1834 Investment Advisors Co. Sells 488 Shares of Micron Technology, Inc. (NASDAQ:MU)

1834 Investment Advisors Co. lowered its holdings in Micron Technology, Inc. (NASDAQ:MU) by 10.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,325 shares of the semiconductor manufacturer’s stock after selling 488 shares during the quarter. 1834 Investment Advisors Co.’s holdings in Micron Technology were worth $569,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of MU. Citizens Financial Group Inc. RI bought a new stake in Micron Technology during the fourth quarter valued at about $225,000. Red Wave Investments LLC purchased a new position in shares of Micron Technology in the 4th quarter worth approximately $226,000. Mather Group LLC. raised its stake in shares of Micron Technology by 6.3% during the 4th quarter. Mather Group LLC. now owns 7,757 shares of the semiconductor manufacturer’s stock worth $662,000 after acquiring an additional 462 shares in the last quarter. EWA LLC bought a new position in shares of Micron Technology during the 4th quarter worth approximately $206,000. Finally, Intrust Bank NA boosted its stake in Micron Technology by 3.3% in the fourth quarter. Intrust Bank NA now owns 21,382 shares of the semiconductor manufacturer’s stock valued at $1,825,000 after acquiring an additional 686 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Buying and Selling at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $135.86, for a total value of $664,355.40. Following the transaction, the executive vice president now directly owns 142,321 shares of the company’s stock, valued at approximately $19,335,731.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related 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 transaction, the executive vice president now directly owns 142,321 shares of the company’s stock, valued at approximately $19,335,731.06. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $126.14, for a total transaction of $882,980.00. Following the sale, the chief executive officer now directly owns 719,049 shares in the company, valued at approximately $90,700,840.86. The disclosure for this sale can be found here. Insiders have sold a total of 53,174 shares of company stock valued at $7,710,093 over the last ninety days. Corporate insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

MU has been the topic of a number of research analyst reports. KeyCorp dropped their price target on Micron Technology from $165.00 to $145.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Mizuho upped their price target on shares of Micron Technology from $150.00 to $155.00 and gave the company a “buy” rating in a research note on Friday, May 31st. UBS Group lowered their price objective on shares of Micron Technology from $155.00 to $153.00 and set a “buy” rating for the company in a research note on Thursday, June 27th. TD Cowen boosted their price objective on shares of Micron Technology from $150.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Finally, JPMorgan Chase & Co. raised their target price on Micron Technology from $130.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Two analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, Micron Technology presently has a consensus rating of “Moderate Buy” and an average price target of $157.12.

Micron Technology Price Performance

Shares of NASDAQ:MU traded up $1.28 during trading on Thursday, reaching $96.14. 5,909,460 shares of the company’s stock traded hands, compared to its average volume of 21,268,592. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a fifty-two week low of $63.83 and a fifty-two week high of $157.54. The company has a 50-day simple moving average of $116.46 and a 200-day simple moving average of $114.44. The firm has a market cap of $106.60 billion, a PE ratio of -66.80 and a beta of 1.18.

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

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date was Monday, July 8th. Micron Technology’s dividend payout ratio is presently -32.39%.

About Micron Technology

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.