Legacy Capital Group California Inc. Cuts Stake in Micron Technology, Inc. (NASDAQ:MU)

Legacy Capital Group California Inc. cut its stake in Micron Technology, Inc. (NASDAQ:MU) by 4.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,036 shares of the semiconductor manufacturer’s stock after selling 128 shares during the quarter. Legacy Capital Group California Inc.’s holdings in Micron Technology were worth $315,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MU. Atria Investments Inc boosted its position in Micron Technology by 0.3% during the first quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock worth $3,269,000 after acquiring an additional 93 shares during the last quarter. Aspect Partners LLC boosted its holdings in shares of Micron Technology by 39.8% during the 2nd quarter. Aspect Partners LLC now owns 330 shares of the semiconductor manufacturer’s stock worth $43,000 after purchasing an additional 94 shares during the last quarter. Ameritas Advisory Services LLC grew its position in shares of Micron Technology by 1.3% in the second quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer’s stock valued at $1,003,000 after purchasing an additional 98 shares in the last quarter. LRI Investments LLC increased its holdings in shares of Micron Technology by 57.2% in the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock valued at $36,000 after purchasing an additional 99 shares during the last quarter. Finally, Retirement Group LLC lifted its position in Micron Technology by 37.3% during the first quarter. Retirement Group LLC now owns 368 shares of the semiconductor manufacturer’s stock worth $43,000 after buying an additional 100 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on MU shares. Susquehanna cut their target price on Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a research note on Thursday, September 26th. Wells Fargo & Company cut their price objective on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a research report on Wednesday, September 18th. Wedbush reissued an “outperform” rating and issued a $140.00 price target on shares of Micron Technology in a research note on Thursday, September 26th. Raymond James raised their price target on shares of Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $150.00 price objective 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 assigned a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat, Micron Technology has an average rating of “Moderate Buy” and an average target price of $142.85.

Micron Technology Stock Up 1.0 %

Shares of NASDAQ:MU opened at $107.91 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 moving average price is $99.23 and its 200 day moving average price is $114.05. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. The stock has a market cap of $119.66 billion, a price-to-earnings ratio of -75.99 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.21. The business had revenue of $7.75 billion for 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 company’s revenue was up 93.3% on a year-over-year basis. During the same period last year, the business earned ($1.21) EPS. As a group, equities research analysts predict that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders 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 dividend yield of 0.43%. Micron Technology’s payout ratio is currently -32.39%.

Insider Transactions at Micron Technology

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

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.