Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Intellectus Partners LLC

Intellectus Partners LLC reduced its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 9.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,854 shares of the semiconductor manufacturer’s stock after selling 6,347 shares during the period. Micron Technology makes up approximately 1.6% of Intellectus Partners LLC’s portfolio, making the stock its 8th largest position. Intellectus Partners LLC’s holdings in Micron Technology were worth $6,104,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Balboa Wealth Partners lifted its holdings in shares of Micron Technology by 22.4% in the third quarter. Balboa Wealth Partners now owns 15,063 shares of the semiconductor manufacturer’s stock valued at $1,562,000 after purchasing an additional 2,761 shares in the last quarter. OneDigital Investment Advisors LLC increased its position in Micron Technology by 12.8% during the third quarter. OneDigital Investment Advisors LLC now owns 22,979 shares of the semiconductor manufacturer’s stock worth $2,383,000 after purchasing an additional 2,600 shares during the last quarter. Sycomore Asset Management increased its holdings in shares of Micron Technology by 147.1% during the 3rd quarter. Sycomore Asset Management now owns 135,667 shares of the semiconductor manufacturer’s stock worth $14,907,000 after buying an additional 80,758 shares during the last quarter. ING Groep NV raised its holdings in shares of Micron Technology by 14.1% in the 3rd quarter. ING Groep NV now owns 1,026,809 shares of the semiconductor manufacturer’s stock worth $106,490,000 after purchasing an additional 126,678 shares during the period. Finally, Lifeworks Advisors LLC lifted its position in Micron Technology by 13.9% during the third quarter. Lifeworks Advisors LLC now owns 2,206 shares of the semiconductor manufacturer’s stock valued at $229,000 after buying an additional 269 shares in the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the 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 $15,348,790. This represents a 3.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.32% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on MU shares. Wells Fargo & Company lowered their target price on Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a research note on Wednesday, September 18th. Rosenblatt Securities increased their price objective on shares of Micron Technology from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Citigroup decreased their target price on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. 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. Finally, Morgan Stanley raised their price objective on shares of Micron Technology from $100.00 to $114.00 and gave the company an “equal weight” rating in a research report on Thursday, September 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $143.04.

Micron Technology Price Performance

Shares of NASDAQ MU opened at $99.18 on Friday. Micron Technology, Inc. has a 1-year low of $72.93 and a 1-year high of $157.54. 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 fifty day simple moving average of $100.93 and a two-hundred day simple moving average of $112.94. The firm has a market cap of $109.96 billion, a price-to-earnings ratio of 145.86 and a beta of 1.18.

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

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend was Monday, October 7th. Micron Technology’s dividend payout ratio (DPR) is currently 67.65%.

Micron Technology Company 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.