Avantax Advisory Services Inc. Reduces Position in Micron Technology, Inc. (NASDAQ:MU)

Avantax Advisory Services Inc. trimmed its position in shares of Micron Technology, Inc. (NASDAQ:MUFree Report) by 3.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 23,830 shares of the semiconductor manufacturer’s stock after selling 896 shares during the period. Avantax Advisory Services Inc.’s holdings in Micron Technology were worth $1,621,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. OFI Invest Asset Management bought a new stake in Micron Technology in the third quarter worth $27,000. Coppell Advisory Solutions LLC bought a new stake in Micron Technology in the second quarter worth $32,000. Fortis Capital Advisors LLC bought a new stake in Micron Technology in the fourth quarter worth $25,000. Cape Investment Advisory Inc. boosted its holdings in Micron Technology by 51.0% in the third quarter. Cape Investment Advisory Inc. now owns 592 shares of the semiconductor manufacturer’s stock worth $40,000 after purchasing an additional 200 shares in the last quarter. Finally, 1832 Asset Management L.P. bought a new stake in Micron Technology in the second quarter worth $38,000. 79.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Sanjay Mehrotra sold 22,000 shares of Micron Technology stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $76.94, for a total value of $1,692,680.00. Following the completion of the sale, the chief executive officer now directly owns 748,759 shares in the company, valued at $57,609,517.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Micron Technology news, CEO Sanjay Mehrotra sold 22,000 shares of the business’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $76.94, for a total value of $1,692,680.00. Following the completion of the transaction, the chief executive officer now directly owns 748,759 shares in the company, valued at $57,609,517.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Scott J. Deboer sold 28,228 shares of the business’s stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $87.24, for a total transaction of $2,462,610.72. Following the completion of the transaction, the executive vice president now owns 203,342 shares of the company’s stock, valued at $17,739,556.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 292,228 shares of company stock valued at $24,084,651. 0.32% of the stock is currently owned by company insiders.

Micron Technology Stock Performance

Shares of MU opened at $85.17 on Thursday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.14 and a current ratio of 3.53. The company’s fifty day moving average is $83.08 and its 200 day moving average is $74.33. Micron Technology, Inc. has a fifty-two week low of $52.76 and a fifty-two week high of $90.04.

Micron Technology (NASDAQ:MUGet Free Report) last posted its quarterly earnings data on Wednesday, December 20th. The semiconductor manufacturer reported ($0.95) EPS for the quarter, topping the consensus estimate of ($1.01) by $0.06. The company had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.58 billion. Micron Technology had a negative net margin of 42.47% and a negative return on equity of 14.44%. Micron Technology’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.15) earnings per share. On average, analysts forecast that Micron Technology, Inc. will post -0.99 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 18th. Stockholders of record on Tuesday, January 2nd were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date was Friday, December 29th. Micron Technology’s dividend payout ratio is currently -7.32%.

Analysts Set New Price Targets

A number of research analysts have recently commented on MU shares. JPMorgan Chase & Co. upped their price objective on shares of Micron Technology from $90.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, December 21st. UBS Group increased their price target on shares of Micron Technology from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, December 21st. Citigroup increased their price target on shares of Micron Technology from $88.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, December 21st. KeyCorp restated an “overweight” rating on shares of Micron Technology in a report on Wednesday, January 31st. Finally, Mizuho raised their price objective on shares of Micron Technology from $86.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, December 21st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to MarketBeat, Micron Technology currently has a consensus rating of “Moderate Buy” and an average price target of $94.95.

View Our Latest Analysis on Micron Technology

Micron Technology Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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