Advisory Services Network LLC Sells 619 Shares of Micron Technology, Inc. (NASDAQ:MU)

Advisory Services Network LLC lessened its stake in Micron Technology, Inc. (NASDAQ:MU) by 1.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 47,921 shares of the semiconductor manufacturer’s stock after selling 619 shares during the period. Advisory Services Network LLC’s holdings in Micron Technology were worth $5,649,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of MU. Revolve Wealth Partners LLC increased its holdings in Micron Technology by 1.5% during the 1st quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer’s stock valued at $776,000 after purchasing an additional 98 shares during the period. Retirement Group LLC increased its holdings in Micron Technology by 37.3% during the 1st quarter. Retirement Group LLC now owns 368 shares of the semiconductor manufacturer’s stock valued at $43,000 after purchasing an additional 100 shares during the period. Manchester Capital Management LLC increased its holdings in Micron Technology by 5.2% during the 1st quarter. Manchester Capital Management LLC now owns 2,119 shares of the semiconductor manufacturer’s stock valued at $250,000 after purchasing an additional 104 shares during the period. Premier Path Wealth Partners LLC increased its holdings in Micron Technology by 3.1% during the 1st quarter. Premier Path Wealth Partners LLC now owns 4,183 shares of the semiconductor manufacturer’s stock valued at $493,000 after purchasing an additional 124 shares during the period. Finally, Sandy Spring Bank increased 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 valued at $111,000 after purchasing an additional 130 shares during the period. Institutional investors own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

MU has been the topic of a number of research analyst reports. Cantor Fitzgerald upped their target price on Micron Technology from $150.00 to $180.00 and gave the stock an “overweight” rating in a report on Monday, June 17th. Wedbush restated an “outperform” rating and issued a $170.00 price target on shares of Micron Technology in a research note on Thursday, June 27th. Piper Sandler upped their price target on Micron Technology from $130.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Wells Fargo & Company upped their price target on Micron Technology from $135.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. Finally, Wolfe Research upped their price target on Micron Technology from $150.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, June 21st. Two research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat, Micron Technology has a consensus rating of “Moderate Buy” and an average price target of $158.72.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $135.86, for a total transaction of $664,355.40. Following the completion of the sale, the executive vice president now owns 142,321 shares of the company’s stock, valued at $19,335,731.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $135.86, for a total value of $664,355.40. Following the completion of the sale, the executive vice president now owns 142,321 shares in the company, valued at $19,335,731.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $120.70, for a total value of $844,900.00. Following the completion of the sale, the chief executive officer now owns 719,049 shares of the company’s stock, valued at approximately $86,789,214.30. The disclosure for this sale can be found here. Insiders sold a total of 250,730 shares of company stock valued at $31,063,449 over the last 90 days. Insiders own 0.32% of the company’s stock.

Micron Technology Trading Up 2.7 %

Shares of NASDAQ:MU traded up $3.54 during trading on Friday, reaching $133.77. The company’s stock had a trading volume of 8,813,438 shares, compared to its average volume of 20,758,822. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a 12 month low of $61.75 and a 12 month high of $157.54. The firm’s 50 day simple moving average is $131.84 and its two-hundred day simple moving average is $109.29. The stock has a market capitalization of $148.33 billion, a PE ratio of -94.42 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.14. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The firm had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.67 billion. During the same quarter last year, the firm earned ($1.57) EPS. The firm’s revenue for the quarter was up 81.5% compared to the same quarter last year. On average, research analysts predict that Micron Technology, Inc. will post 0.58 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th will be paid a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend is Monday, July 8th. Micron Technology’s payout ratio is currently -32.39%.

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.