Orion Portfolio Solutions LLC Sells 8,572 Shares of Micron Technology, Inc. (NASDAQ:MU)

Orion Portfolio Solutions LLC reduced its holdings in Micron Technology, Inc. (NASDAQ:MU) by 15.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 47,297 shares of the semiconductor manufacturer’s stock after selling 8,572 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Micron Technology were worth $4,905,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Ameritas Advisory Services LLC increased its stake in Micron Technology by 1.3% during the 2nd quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer’s stock worth $1,003,000 after purchasing an additional 98 shares in the last quarter. Stonebrook Private Inc. boosted its holdings in shares of Micron Technology by 4.2% in the third quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock valued at $255,000 after buying an additional 98 shares during the period. LRI Investments LLC increased its position in shares of Micron Technology by 57.2% during the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after acquiring an additional 99 shares in the last quarter. E&G Advisors LP raised its holdings in shares of Micron Technology by 5.2% during the second quarter. E&G Advisors LP now owns 2,015 shares of the semiconductor manufacturer’s stock worth $265,000 after acquiring an additional 100 shares during the period. Finally, John G Ullman & Associates Inc. lifted its position in Micron Technology by 2.5% in the 3rd quarter. John G Ullman & Associates Inc. now owns 4,063 shares of the semiconductor manufacturer’s stock valued at $421,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Trading Up 0.3 %

Shares of MU stock opened at $101.17 on Monday. Micron Technology, Inc. has a 12-month low of $72.99 and a 12-month high of $157.54. The firm has a 50 day moving average price of $103.66 and a two-hundred day moving average price of $110.39. 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 company has a market capitalization of $112.71 billion, a PE ratio of 148.78 and a beta of 1.16.

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

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were paid a $0.115 dividend. The ex-dividend date was Monday, October 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.45%. Micron Technology’s dividend payout ratio (DPR) is presently 67.65%.

Insider Buying and Selling

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 stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the transaction, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at $15,348,790. The trade was a 3.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.30% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on MU shares. UBS Group cut their price target on Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. Citigroup cut their target price on Micron Technology from $175.00 to $150.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. Wells Fargo & Company decreased their price target on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a research note on Wednesday, September 18th. Cantor Fitzgerald reissued an “overweight” rating and issued a $150.00 price objective on shares of Micron Technology in a research report on Tuesday, October 1st. Finally, Rosenblatt Securities raised their target price on shares of Micron Technology from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $143.04.

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.