Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Pinnacle Wealth Planning Services Inc.

Pinnacle Wealth Planning Services Inc. decreased its holdings in Micron Technology, Inc. (NASDAQ:MU) by 5.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,066 shares of the semiconductor manufacturer’s stock after selling 191 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in Micron Technology were worth $361,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Cornerstone Wealth Management LLC acquired a new stake in Micron Technology during the fourth quarter valued at approximately $259,000. Dynamic Advisor Solutions LLC grew its holdings in shares of Micron Technology by 20.3% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 10,198 shares of the semiconductor manufacturer’s stock valued at $851,000 after purchasing an additional 1,720 shares during the last quarter. CIC Wealth LLC bought a new position in shares of Micron Technology during the fourth quarter valued at approximately $261,000. Fortitude Family Office LLC bought a new position in shares of Micron Technology during the fourth quarter valued at approximately $493,000. Finally, SkyOak Wealth LLC bought a new position in shares of Micron Technology during the fourth quarter valued at approximately $208,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Activity

In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $135.86, for a total value of $664,355.40. Following the completion of the sale, the executive vice president now owns 142,321 shares in the company, valued at $19,335,731.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $135.86, for a total value of $664,355.40. Following the completion of the sale, the executive vice president now owns 142,321 shares in the company, valued at $19,335,731.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sanjay Mehrotra sold 34,284 shares of the stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $152.28, for a total value of $5,220,767.52. Following the completion of the sale, the chief executive officer now owns 719,049 shares of the company’s stock, valued at approximately $109,496,781.72. The disclosure for this sale can be found here. In the last 90 days, insiders sold 243,730 shares of company stock worth $30,218,549. Insiders own 0.32% of the company’s stock.

Micron Technology Price Performance

Shares of NASDAQ:MU traded down $3.19 on Friday, reaching $114.26. 18,038,924 shares of the company traded hands, compared to its average volume of 29,122,340. Micron Technology, Inc. has a fifty-two week low of $61.75 and a fifty-two week high of $157.54. The company’s 50 day moving average is $132.45 and its 200-day moving average is $111.06. The stock has a market capitalization of $126.70 billion, a PE ratio of -80.46 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.14. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The company had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.67 billion. During the same quarter in the prior year, the firm earned ($1.57) EPS. The company’s quarterly revenue was up 81.5% compared to the same quarter last year. As a group, analysts anticipate that Micron Technology, Inc. will post 0.58 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th will be given a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, July 8th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.40%. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Susquehanna upped their target price on Micron Technology from $143.00 to $185.00 and gave the company a “positive” rating in a report on Monday, June 17th. JPMorgan Chase & Co. upped their target price on Micron Technology from $130.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. Wedbush reaffirmed an “outperform” rating and set a $170.00 target price on shares of Micron Technology in a report on Thursday, June 27th. KeyCorp upped their target price on Micron Technology from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Finally, Wells Fargo & Company increased their price objective on Micron Technology from $135.00 to $190.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. Two equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat.com, Micron Technology currently has an average rating of “Moderate Buy” and an average price target of $158.72.

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.