Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Ameliora Wealth Management Ltd.

Ameliora Wealth Management Ltd. decreased its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 50.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,426 shares of the semiconductor manufacturer’s stock after selling 1,426 shares during the period. Ameliora Wealth Management Ltd.’s holdings in Micron Technology were worth $90,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. 25 LLC acquired a new stake in shares of Micron Technology in the first quarter worth $25,000. Barrett & Company Inc. acquired a new stake in shares of Micron Technology in the first quarter worth $25,000. Fortis Capital Advisors LLC acquired a new stake in shares of Micron Technology in the fourth quarter worth $25,000. Elequin Securities LLC acquired a new stake in Micron Technology during the 4th quarter valued at $30,000. Finally, Cascade Investment Advisors Inc. acquired a new stake in Micron Technology during the 1st quarter valued at $30,000. Institutional investors and hedge funds own 79.25% of the company’s stock.

Insiders Place Their Bets

In other Micron Technology news, EVP Sumit Sadana sold 42,667 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $70.05, for a total value of $2,988,823.35. Following the sale, the executive vice president now directly owns 208,987 shares in the company, valued at approximately $14,639,539.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Micron Technology news, EVP Sumit Sadana sold 42,667 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $70.05, for a total value of $2,988,823.35. Following the sale, the executive vice president now directly owns 208,987 shares in the company, valued at approximately $14,639,539.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Scott R. Allen sold 13,687 shares of the firm’s stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $60.80, for a total transaction of $832,169.60. Following the transaction, the chief accounting officer now directly owns 32,094 shares of the company’s stock, valued at $1,951,315.20. The disclosure for this sale can be found here. Insiders have sold 226,810 shares of company stock worth $15,577,970 in the last ninety days. Insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

MU has been the subject of a number of recent analyst reports. Wedbush raised their price target on shares of Micron Technology from $65.00 to $80.00 in a report on Monday, June 26th. Piper Sandler upgraded shares of Micron Technology from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $45.00 to $70.00 in a research note on Thursday, June 29th. Evercore ISI increased their price objective on shares of Micron Technology from $75.00 to $80.00 in a research note on Monday, June 26th. 22nd Century Group reiterated a “maintains” rating on shares of Micron Technology in a research note on Thursday, June 29th. Finally, Bank of America increased their price objective on shares of Micron Technology from $68.00 to $76.00 in a research note on Thursday, June 29th. Two equities research 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. Based on data from MarketBeat.com, Micron Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.86.

Micron Technology Stock Down 2.7 %

Shares of MU traded down $1.91 during mid-day trading on Friday, hitting $69.88. 16,416,127 shares of the company’s stock were exchanged, compared to its average volume of 15,706,011. The firm has a fifty day moving average of $66.96 and a two-hundred day moving average of $64.09. Micron Technology, Inc. has a twelve month low of $48.43 and a twelve month high of $74.77. The stock has a market cap of $76.54 billion, a price-to-earnings ratio of -26.07 and a beta of 1.36. The company has a quick ratio of 2.64, a current ratio of 4.26 and a debt-to-equity ratio of 0.29.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, June 28th. The semiconductor manufacturer reported ($1.43) EPS for the quarter, topping the consensus estimate of ($1.61) by $0.18. Micron Technology had a negative net margin of 16.02% and a negative return on equity of 5.40%. The company had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same quarter in the prior year, the business posted $2.50 EPS. Micron Technology’s quarterly revenue was down 56.6% on a year-over-year basis. On average, sell-side analysts forecast that Micron Technology, Inc. will post -5.07 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 25th. Investors of record on Monday, July 10th were paid a $0.115 dividend. The ex-dividend date of this dividend was Friday, July 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.66%. Micron Technology’s payout ratio is presently -17.16%.

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.