Merit Financial Group LLC Sells 4,147 Shares of Micron Technology, Inc. (NASDAQ:MU)

Merit Financial Group LLC trimmed its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 47.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,530 shares of the semiconductor manufacturer’s stock after selling 4,147 shares during the quarter. Merit Financial Group LLC’s holdings in Micron Technology were worth $387,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Sandy Spring Bank grew its holdings in Micron Technology by 11.1% during the 4th quarter. Sandy Spring Bank now owns 1,305 shares of the semiconductor manufacturer’s stock worth $111,000 after acquiring an additional 130 shares during the last quarter. HMS Capital Management LLC lifted its position in shares of Micron Technology by 0.7% during the fourth quarter. HMS Capital Management LLC now owns 19,842 shares of the semiconductor manufacturer’s stock worth $1,693,000 after purchasing an additional 138 shares in the last quarter. Huntington National Bank grew its stake in shares of Micron Technology by 6.0% during the third quarter. Huntington National Bank now owns 2,652 shares of the semiconductor manufacturer’s stock valued at $180,000 after purchasing an additional 149 shares during the last quarter. Allworth Financial LP increased its holdings in shares of Micron Technology by 3.0% in the fourth quarter. Allworth Financial LP now owns 5,125 shares of the semiconductor manufacturer’s stock valued at $437,000 after purchasing an additional 150 shares in the last quarter. Finally, Homestead Advisers Corp raised its position in Micron Technology by 12.5% in the 3rd quarter. Homestead Advisers Corp now owns 1,372 shares of the semiconductor manufacturer’s stock worth $93,000 after purchasing an additional 152 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 45,000 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $100.00, for a total value of $4,500,000.00. Following the completion of the sale, the chief executive officer now owns 773,557 shares of the company’s stock, valued at approximately $77,355,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Scott J. Deboer sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $110.31, for a total transaction of $4,412,400.00. Following the completion of the sale, the executive vice president now owns 158,617 shares of the company’s stock, valued at approximately $17,497,041.27. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sanjay Mehrotra sold 45,000 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $100.00, for a total transaction of $4,500,000.00. Following the sale, the chief executive officer now directly owns 773,557 shares of the company’s stock, valued at approximately $77,355,700. The disclosure for this sale can be found here. Insiders sold 316,890 shares of company stock valued at $35,485,387 in the last quarter. Company insiders own 0.32% of the company’s stock.

Micron Technology Stock Performance

Shares of MU opened at $119.21 on Wednesday. The firm has a 50-day moving average of $110.11 and a 200-day moving average of $90.70. Micron Technology, Inc. has a one year low of $59.55 and a one year high of $130.54. The company has a market cap of $131.61 billion, a PE ratio of -34.55 and a beta of 1.27. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.69. The company had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. Micron Technology’s quarterly revenue was up 57.7% compared to the same quarter last year. During the same quarter last year, the company posted ($2.03) EPS. As a group, equities analysts forecast that Micron Technology, Inc. will post 0.24 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend was Thursday, March 28th. Micron Technology’s dividend payout ratio is currently -13.33%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. UBS Group boosted their price target on shares of Micron Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Morgan Stanley increased their price target on Micron Technology from $78.00 to $98.00 and gave the company an “underweight” rating in a research note on Thursday, March 21st. Fox Advisors raised Micron Technology from an “equal weight” rating to an “overweight” rating in a research note on Thursday, March 21st. Needham & Company LLC increased their target price on Micron Technology from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Finally, Wedbush boosted their target price on Micron Technology from $103.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat, Micron Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.60.

About Micron Technology

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.