Micron Technology, Inc. (NASDAQ:MU) Stock Holdings Trimmed by Sunbelt Securities Inc.

Sunbelt Securities Inc. lowered its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 28.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 968 shares of the semiconductor manufacturer’s stock after selling 377 shares during the quarter. Sunbelt Securities Inc.’s holdings in Micron Technology were worth $127,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Hobbs Group Advisors LLC bought a new stake in shares of Micron Technology during the 2nd quarter valued at about $28,000. DecisionPoint Financial LLC acquired a new position in Micron Technology in the first quarter valued at approximately $25,000. Valued Wealth Advisors LLC grew its holdings in shares of Micron Technology by 230.7% during the first 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 last quarter. Richard W. Paul & Associates LLC raised its position in shares of Micron Technology by 128.6% during the 2nd 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 period. Finally, LRI Investments LLC lifted its holdings in shares of Micron Technology by 57.2% in the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after purchasing an additional 99 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

Insider Transactions at Micron Technology

In other Micron Technology 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 owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.32% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. increased their target price on Micron Technology from $130.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. UBS Group cut their price objective on shares of Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Stifel Nicolaus decreased their target price on shares of Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, September 19th. Robert W. Baird cut their price target on Micron Technology from $172.00 to $150.00 and set an “outperform” rating on the stock in a report on Friday, September 27th. Finally, Wells Fargo & Company decreased their price objective on Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $143.23.

Micron Technology Stock Performance

Micron Technology stock opened at $101.82 on Friday. Micron Technology, Inc. has a fifty-two week low of $63.88 and a fifty-two week high of $157.54. The firm’s 50 day simple moving average is $96.80 and its 200-day simple moving average is $114.90. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16. The company has a market cap of $112.90 billion, a P/E ratio of -71.70, a price-to-earnings-growth ratio of 0.20 and a beta of 1.17.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 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 analysts’ expectations of $7.65 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. Micron Technology’s revenue 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. As a group, equities research analysts predict that Micron Technology, Inc. will post 0.61 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th will be issued a $0.115 dividend. The ex-dividend date is Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.45%. Micron Technology’s dividend payout ratio is -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.