Micron Technology, Inc. (NASDAQ:MU) Shares Sold by 1834 Investment Advisors Co.

1834 Investment Advisors Co. lowered its position in Micron Technology, Inc. (NASDAQ:MU) by 24.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,273 shares of the semiconductor manufacturer’s stock after selling 1,052 shares during the quarter. 1834 Investment Advisors Co.’s holdings in Micron Technology were worth $339,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MU. Norden Group LLC boosted its holdings in Micron Technology by 43.4% in the first quarter. Norden Group LLC now owns 3,564 shares of the semiconductor manufacturer’s stock valued at $420,000 after acquiring an additional 1,078 shares during the last quarter. Csenge Advisory Group acquired a new position in shares of Micron Technology during the first quarter worth about $243,000. Manchester Capital Management LLC lifted its stake in shares of Micron Technology by 5.2% during the first quarter. Manchester Capital Management LLC now owns 2,119 shares of the semiconductor manufacturer’s stock worth $250,000 after purchasing an additional 104 shares in the last quarter. Empirical Finance LLC lifted its stake in shares of Micron Technology by 3.5% during the first quarter. Empirical Finance LLC now owns 39,659 shares of the semiconductor manufacturer’s stock worth $4,675,000 after purchasing an additional 1,338 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its stake in shares of Micron Technology by 4.1% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 60,458 shares of the semiconductor manufacturer’s stock worth $7,127,000 after purchasing an additional 2,383 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

MU has been the topic of a number of recent research reports. BNP Paribas cut Micron Technology from an “outperform” rating to an “underperform” rating and reduced their price objective for the stock from $140.00 to $67.00 in a research note on Thursday, September 12th. Cantor Fitzgerald restated an “overweight” rating and set a $150.00 price objective on shares of Micron Technology in a research note on Tuesday, October 1st. Wedbush restated an “outperform” rating and set a $140.00 price objective on shares of Micron Technology in a research note on Thursday, September 26th. Morgan Stanley lifted their target price on Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 target price on shares of Micron Technology in a research report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $143.04.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the sale, the executive vice president now directly owns 135,830 shares in the company, valued at $15,348,790. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.32% of the stock is currently owned by insiders.

Micron Technology Stock Performance

Shares of NASDAQ MU opened at $111.83 on Thursday. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. The stock has a 50 day simple moving average of $99.49 and a 200-day simple moving average of $113.09. The company has a market cap of $123.99 billion, a PE ratio of 164.46 and a beta of 1.18. Micron Technology, Inc. has a 12-month low of $71.71 and a 12-month high of $157.54.

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

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were given 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 0.41%. Micron Technology’s dividend payout ratio (DPR) is 67.65%.

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.