Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Cim Investment Management Inc.

Cim Investment Management Inc. lowered its stake in Micron Technology, Inc. (NASDAQ:MU) by 0.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 23,337 shares of the semiconductor manufacturer’s stock after selling 122 shares during the quarter. Micron Technology accounts for about 0.9% of Cim Investment Management Inc.’s portfolio, making the stock its 15th biggest holding. Cim Investment Management Inc.’s holdings in Micron Technology were worth $3,070,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MU. Steward Partners Investment Advisory LLC lifted its position in shares of Micron Technology by 146.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 33,622 shares of the semiconductor manufacturer’s stock valued at $2,869,000 after acquiring an additional 19,992 shares in the last quarter. TD Asset Management Inc lifted its holdings in Micron Technology by 8.2% in the 4th quarter. TD Asset Management Inc now owns 528,059 shares of the semiconductor manufacturer’s stock valued at $45,065,000 after purchasing an additional 40,126 shares in the last quarter. Focus Financial Network Inc. ADV purchased a new position in Micron Technology in the 4th quarter valued at $362,000. J. W. Coons Advisors LLC acquired a new stake in Micron Technology during the 4th quarter worth $213,000. Finally, Avestar Capital LLC raised its position in shares of Micron Technology by 32.4% in the fourth quarter. Avestar Capital LLC now owns 4,145 shares of the semiconductor manufacturer’s stock valued at $354,000 after buying an additional 1,014 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Price Performance

Micron Technology stock opened at $107.50 on Friday. The stock has a market cap of $119.20 billion, a P/E ratio of -75.70, a price-to-earnings-growth ratio of 0.20 and a beta of 1.17. The company has a fifty day simple moving average of $97.77 and a 200-day simple moving average of $114.60. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a 12-month low of $63.83 and a 12-month high of $157.54.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.21. The firm had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.65 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The firm’s revenue was up 93.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.21) earnings per share. Equities analysts expect that Micron Technology, Inc. will post 0.61 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th will be issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend is Monday, October 7th. Micron Technology’s payout ratio is currently -32.39%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Susquehanna dropped their price target on Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a research report on Thursday. Needham & Company LLC restated a “buy” rating and issued a $140.00 target price on shares of Micron Technology in a report on Thursday. Bank of America raised their target price on Micron Technology from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday. KeyCorp lowered their price target on shares of Micron Technology from $165.00 to $145.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Finally, TD Cowen lifted their target price on shares of Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, Micron Technology currently has a consensus rating of “Moderate Buy” and an average price target of $144.38.

Micron Technology Profile

Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.