Kestra Advisory Services LLC Sells 1,587 Shares of Micron Technology, Inc. (NASDAQ:MU)

Kestra Advisory Services LLC cut its position in Micron Technology, Inc. (NASDAQ:MU) by 1.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 136,295 shares of the semiconductor manufacturer’s stock after selling 1,587 shares during the quarter. Kestra Advisory Services LLC’s holdings in Micron Technology were worth $16,068,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Tidemark LLC purchased a new stake in shares of Micron Technology during the 4th quarter valued at approximately $25,000. DecisionPoint Financial LLC purchased a new stake in shares of Micron Technology during the first quarter worth $25,000. Pingora Partners LLC bought a new position in shares of Micron Technology in the fourth quarter worth $26,000. Frank Rimerman Advisors LLC purchased a new position in shares of Micron Technology in the fourth quarter valued at $29,000. Finally, Valued Wealth Advisors LLC raised its stake in shares of Micron Technology by 230.7% during the 1st quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock valued at $29,000 after purchasing an additional 173 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Analyst Upgrades and Downgrades

MU has been the subject of several analyst reports. Mizuho raised their target price on Micron Technology from $150.00 to $155.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Raymond James boosted their price objective on shares of Micron Technology from $130.00 to $160.00 and gave the company an “outperform” rating in a research note on Friday, June 21st. Morgan Stanley increased their target price on shares of Micron Technology from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Monday, June 24th. Citigroup boosted their price target on shares of Micron Technology from $150.00 to $175.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $225.00 price objective on shares of Micron Technology in a research report on Tuesday, June 25th. Two equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $158.72.

Micron Technology Trading Up 1.8 %

NASDAQ MU traded up $1.96 during trading on Friday, hitting $109.41. 18,547,885 shares of the company’s stock traded hands, compared to its average volume of 22,686,388. The stock has a fifty day moving average of $131.01 and a two-hundred day moving average of $112.04. 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, Inc. has a 12-month low of $61.75 and a 12-month high of $157.54. The firm has a market cap of $121.32 billion, a P/E ratio of -77.05 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $6.67 billion. During the same quarter in the previous year, the business earned ($1.57) earnings per share. The company’s quarterly revenue was up 81.5% on a year-over-year basis. As a group, sell-side analysts expect that Micron Technology, Inc. will post 0.58 EPS for the current year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date was Monday, July 8th. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

Insider Buying and Selling

In other Micron Technology news, EVP Scott J. Deboer sold 40,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $110.31, for a total value of $4,412,400.00. Following the transaction, the executive vice president now owns 158,617 shares in the company, valued at $17,497,041.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $114.87, for a total value of $804,090.00. Following the completion of the sale, the chief executive officer now owns 719,049 shares of the company’s stock, valued at $82,597,158.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Scott J. Deboer sold 40,000 shares of Micron Technology stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $110.31, for a total transaction of $4,412,400.00. Following the completion of the sale, the executive vice president now owns 158,617 shares in the company, valued at approximately $17,497,041.27. The disclosure for this sale can be found here. Insiders have sold a total of 236,730 shares of company stock valued at $29,435,039 over the last three months. 0.32% of the stock is owned by company insiders.

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.