Micron Technology, Inc. (NASDAQ:MU) Position Cut by Farther Finance Advisors LLC

Farther Finance Advisors LLC reduced its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 11.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,405 shares of the semiconductor manufacturer’s stock after selling 1,542 shares during the quarter. Farther Finance Advisors LLC’s holdings in Micron Technology were worth $1,100,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Micron Technology by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer’s stock worth $8,403,982,000 after purchasing an additional 888,087 shares during the last quarter. FMR LLC grew its holdings in shares of Micron Technology by 34.6% during the fourth quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer’s stock worth $4,012,114,000 after purchasing an additional 12,249,341 shares during the last quarter. Capital World Investors grew its holdings in shares of Micron Technology by 63.7% during the fourth quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer’s stock worth $3,458,673,000 after purchasing an additional 15,993,036 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Micron Technology by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 24,449,827 shares of the semiconductor manufacturer’s stock valued at $2,052,973,000 after acquiring an additional 726,282 shares during the period. Finally, Norges Bank acquired a new position in Micron Technology in the fourth quarter valued at about $1,470,875,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value of $1,442,700.00. Following the completion of the sale, the executive vice president now owns 164,769 shares in the company, valued at approximately $15,847,482.42. This trade represents a 8.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $80.00, for a total value of $192,320.00. Following the completion of the sale, the director now owns 24,954 shares of the company’s stock, valued at approximately $1,996,320. This trade represents a 8.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,904 shares of company stock worth $4,665,124 in the last ninety days. 0.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

MU has been the topic of a number of research analyst reports. UBS Group raised their price target on Micron Technology from $92.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, June 5th. Wall Street Zen cut Micron Technology from a “buy” rating to a “hold” rating in a report on Saturday, May 24th. Rosenblatt Securities dropped their price objective on Micron Technology from $250.00 to $200.00 and set a “buy” rating for the company in a report on Friday, March 21st. Wells Fargo & Company reiterated an “equal weight” rating on shares of Micron Technology in a research note on Monday, April 28th. Finally, Wedbush reaffirmed an “underperform” rating on shares of Micron Technology in a research note on Monday, April 28th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $129.00.

Micron Technology Stock Up 0.1%

Shares of NASDAQ:MU opened at $116.18 on Friday. The business’s 50 day moving average is $87.20 and its 200 day moving average is $92.51. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $157.54. The stock has a market cap of $129.84 billion, a price-to-earnings ratio of 33.48 and a beta of 1.28.

Micron Technology (NASDAQ:MU) last issued its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same period in the previous year, the company posted $0.42 earnings per share. The business’s revenue was up 38.2% on a year-over-year basis. On average, sell-side analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.115 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a yield of 0.40%. Micron Technology’s dividend payout ratio is currently 11.03%.

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.