Circle Wealth Management LLC Trims Position in Micron Technology, Inc. (NASDAQ:MU)

Circle Wealth Management LLC lowered its holdings in Micron Technology, Inc. (NASDAQ:MU) by 16.8% during the third quarter, Holdings Channel reports. The fund owned 11,027 shares of the semiconductor manufacturer’s stock after selling 2,234 shares during the quarter. Circle Wealth Management LLC’s holdings in Micron Technology were worth $1,144,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Van ECK Associates Corp raised its position in shares of Micron Technology by 30.6% in the third quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock worth $1,109,769,000 after acquiring an additional 2,477,985 shares during the period. Swedbank AB increased its stake in shares of Micron Technology by 473.8% in the 2nd quarter. Swedbank AB now owns 2,649,180 shares of the semiconductor manufacturer’s stock valued at $348,447,000 after purchasing an additional 2,187,460 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Micron Technology by 21.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock worth $1,174,643,000 after purchasing an additional 2,022,180 shares during the period. International Assets Investment Management LLC boosted its position in Micron Technology by 1,233.7% during the third quarter. International Assets Investment Management LLC now owns 1,430,619 shares of the semiconductor manufacturer’s stock worth $145,470,000 after purchasing an additional 1,323,352 shares in the last quarter. Finally, Caxton Associates LP grew its holdings in Micron Technology by 2,500.0% in the second quarter. Caxton Associates LP now owns 1,300,000 shares of the semiconductor manufacturer’s stock valued at $170,989,000 after purchasing an additional 1,250,000 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Price Performance

MU stock opened at $97.95 on Friday. The business’s fifty day moving average price is $103.60 and its 200 day moving average price is $111.53. Micron Technology, Inc. has a 12-month low of $72.93 and a 12-month high of $157.54. The company has a market capitalization of $108.60 billion, a PE ratio of 144.04 and a beta of 1.18. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, beating the consensus estimate of $0.97 by $0.21. The business had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The business’s revenue for the quarter was up 93.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.21) earnings per share. On average, sell-side analysts anticipate that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were issued a $0.115 dividend. The ex-dividend date was Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.47%. Micron Technology’s dividend payout ratio (DPR) is presently 67.65%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on MU shares. Bank of America upped 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, September 26th. Morgan Stanley upped their price objective on shares of Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. Raymond James boosted their target price on shares of Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Wedbush reiterated an “outperform” rating and issued a $140.00 price objective on shares of Micron Technology in a report on Thursday, September 26th. Finally, Needham & Company LLC reissued a “buy” rating and set a $140.00 target price on shares of Micron Technology in a report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have assigned a buy rating to the company. Based on data from MarketBeat.com, Micron Technology has a consensus rating of “Moderate Buy” and a consensus target price of $143.04.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the transaction, the executive vice president now owns 135,830 shares in the company, valued at approximately $15,348,790. This represents a 3.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.32% of the stock is currently owned by 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.