Lindbrook Capital LLC Decreases Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Lindbrook Capital LLC lowered its position in Micron Technology, Inc. (NASDAQ:MU) by 7.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,126 shares of the semiconductor manufacturer’s stock after selling 315 shares during the period. Lindbrook Capital LLC’s holdings in Micron Technology were worth $428,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Highline Wealth Partners LLC purchased a new stake in shares of Micron Technology during the third quarter valued at $26,000. Hobbs Group Advisors LLC purchased a new stake in Micron Technology during the 2nd quarter valued at about $28,000. Davis Capital Management purchased a new stake in Micron Technology during the 3rd quarter valued at about $30,000. Richard W. Paul & Associates LLC raised its stake in shares of Micron Technology by 128.6% in the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 144 shares during the last quarter. Finally, DT Investment Partners LLC boosted its position in Micron Technology by 261.1% in the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 235 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

Micron Technology Trading Down 1.3 %

Shares of Micron Technology stock opened at $111.90 on Friday. Micron Technology, Inc. has a 1-year low of $72.93 and a 1-year high of $157.54. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. The stock has a market cap of $124.07 billion, a P/E ratio of 164.56 and a beta of 1.18. The stock’s 50 day simple moving average is $100.16 and its 200-day simple moving average is $113.12.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.21. The company had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The firm’s quarterly revenue was up 93.3% on a year-over-year basis. During the same period in the prior year, the business earned ($1.21) EPS. Analysts predict that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were paid a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.46 annualized dividend and a yield of 0.41%. Micron Technology’s dividend payout ratio (DPR) is 67.65%.

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the sale, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

MU has been the subject of several research reports. Susquehanna decreased their price objective on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a research note on Thursday, September 26th. Robert W. Baird lowered their price target on shares of Micron Technology from $172.00 to $150.00 and set an “outperform” rating on the stock in a report on Friday, September 27th. Morgan Stanley lifted their price objective on Micron Technology from $100.00 to $114.00 and gave the company an “equal weight” rating in a research note on Thursday, September 26th. BNP Paribas lowered Micron Technology from an “outperform” rating to an “underperform” rating and dropped their target price for the stock from $140.00 to $67.00 in a report on Thursday, September 12th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $150.00 price target on shares of Micron Technology in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $143.04.

Micron Technology Company 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.