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

Symmetry Partners LLC decreased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 9.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,414 shares of the semiconductor manufacturer’s stock after selling 1,205 shares during the quarter. Symmetry Partners LLC’s holdings in Micron Technology were worth $720,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Aspire Private Capital LLC purchased a new position in shares of Micron Technology during the first quarter valued at $12,068,000,000. 25 LLC purchased a new position in Micron Technology in the first quarter valued at about $25,000. Barrett & Company Inc. purchased a new position in Micron Technology in the first quarter valued at about $25,000. Cascade Investment Advisors Inc. purchased a new position in Micron Technology in the first quarter valued at about $30,000. Finally, Trivant Custom Portfolio Group LLC purchased a new position in Micron Technology in the first quarter valued at about $30,000. Hedge funds and other institutional investors own 79.25% of the company’s stock.

Micron Technology Trading Up 1.3 %

Shares of Micron Technology stock opened at $71.79 on Friday. Micron Technology, Inc. has a 12 month low of $48.43 and a 12 month high of $74.77. The company has a quick ratio of 2.64, a current ratio of 4.26 and a debt-to-equity ratio of 0.29. The stock’s fifty day simple moving average is $66.74 and its 200 day simple moving average is $64.04.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, June 28th. The semiconductor manufacturer reported ($1.43) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.61) by $0.18. The firm had revenue of $3.75 billion during the quarter, compared to analysts’ expectations of $3.65 billion. Micron Technology had a negative return on equity of 5.40% and a negative net margin of 16.02%. The company’s revenue was down 56.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.50 EPS. As a group, equities research analysts expect that Micron Technology, Inc. will post -5.07 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 25th. Shareholders of record on Monday, July 10th were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date was Friday, July 7th. Micron Technology’s dividend payout ratio (DPR) is presently -17.16%.

Analyst Upgrades and Downgrades

MU has been the topic of a number of recent research reports. Wedbush boosted their target price on Micron Technology from $65.00 to $80.00 in a research note on Monday, June 26th. Piper Sandler raised Micron Technology from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $45.00 to $70.00 in a research report on Thursday, June 29th. Stifel Nicolaus boosted their price objective on Micron Technology from $55.00 to $65.00 in a research report on Monday, June 26th. KeyCorp upped their price target on Micron Technology from $70.00 to $80.00 in a report on Thursday, June 29th. Finally, Bank of America upped their price target on Micron Technology from $68.00 to $76.00 in a report on Thursday, June 29th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $73.86.

Insiders Place Their Bets

In related news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $71.15, for a total value of $498,050.00. Following the sale, the chief executive officer now owns 582,862 shares of the company’s stock, valued at $41,470,631.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Micron Technology news, SVP Michael W. Bokan sold 17,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $64.58, for a total transaction of $1,097,860.00. Following the transaction, the senior vice president now owns 133,177 shares of the company’s stock, valued at $8,600,570.66. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $71.15, for a total value of $498,050.00. Following the sale, the chief executive officer now owns 582,862 shares of the company’s stock, valued at approximately $41,470,631.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 226,810 shares of company stock worth $15,577,970. Corporate insiders own 0.33% of the company’s stock.

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 comprises DRAM products, which are dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; NAND products that are non-volatile and re-writeable semiconductor storage devices; and NOR memory products, which are non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.