Raymond James Trust N.A. Reduces Position in Micron Technology, Inc. (NASDAQ:MU)

Raymond James Trust N.A. trimmed its position in Micron Technology, Inc. (NASDAQ:MU) by 12.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,692 shares of the semiconductor manufacturer’s stock after selling 3,192 shares during the quarter. Raymond James Trust N.A.’s holdings in Micron Technology were worth $2,353,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its position in Micron Technology by 1.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,721,126 shares of the semiconductor manufacturer’s stock valued at $697,048,000 after purchasing an additional 65,591 shares during the last quarter. Banco Santander S.A. increased its stake in shares of Micron Technology by 39.1% during the third quarter. Banco Santander S.A. now owns 164,378 shares of the semiconductor manufacturer’s stock valued at $17,048,000 after buying an additional 46,203 shares during the period. DE Burlo Group Inc. raised its holdings in shares of Micron Technology by 143.4% during the third quarter. DE Burlo Group Inc. now owns 335,825 shares of the semiconductor manufacturer’s stock valued at $34,828,000 after acquiring an additional 197,835 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Micron Technology by 3.8% in the third quarter. Pacer Advisors Inc. now owns 136,536 shares of the semiconductor manufacturer’s stock worth $14,160,000 after acquiring an additional 4,968 shares during the period. Finally, Tradewinds LLC. boosted its holdings in Micron Technology by 22.8% in the third quarter. Tradewinds LLC. now owns 21,201 shares of the semiconductor manufacturer’s stock valued at $2,199,000 after acquiring an additional 3,937 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the sale, the executive vice president now owns 135,830 shares in the company, valued at approximately $15,348,790. This represents a 3.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.32% of the stock is owned by insiders.

Micron Technology Price Performance

MU opened at $102.64 on Friday. The stock has a market capitalization of $113.80 billion, a P/E ratio of 150.94 and a beta of 1.18. The company’s 50-day simple moving average is $102.46 and its two-hundred day simple moving average is $112.18. Micron Technology, Inc. has a 52-week low of $72.93 and a 52-week high of $157.54. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.21. The company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. Micron Technology’s revenue was up 93.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.21) earnings per share. As a group, analysts predict that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were paid a $0.115 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.45%. Micron Technology’s dividend payout ratio (DPR) is 67.65%.

Wall Street Analyst Weigh In

MU has been the subject of several research analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $140.00 target price on shares of Micron Technology in a research report on Thursday, September 26th. Citigroup lowered their price objective on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Stifel Nicolaus decreased their target price on Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, September 19th. Cantor Fitzgerald restated an “overweight” rating and set a $150.00 price target on shares of Micron Technology in a research report on Tuesday, October 1st. Finally, UBS Group decreased their price objective on Micron Technology from $153.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $143.04.

Micron Technology 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.