Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Arete Wealth Advisors LLC

Arete Wealth Advisors LLC decreased its holdings in Micron Technology, Inc. (NASDAQ:MU) by 19.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,024 shares of the semiconductor manufacturer’s stock after selling 4,379 shares during the quarter. Arete Wealth Advisors LLC’s holdings in Micron Technology were worth $1,868,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MU. Hobbs Group Advisors LLC acquired a new stake in shares of Micron Technology during the second quarter worth $28,000. Highline Wealth Partners LLC acquired a new stake in Micron Technology during the 3rd quarter worth about $26,000. Richard W. Paul & Associates LLC lifted its position in Micron Technology by 128.6% during the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 144 shares during the period. LRI Investments LLC lifted its position in Micron Technology by 57.2% during the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after acquiring an additional 99 shares during the period. Finally, Davis Capital Management acquired a new stake in shares of Micron Technology during the third quarter worth about $30,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. China Renaissance initiated coverage on shares of Micron Technology in a research note on Monday, October 28th. They set a “buy” rating and a $148.00 price objective for the company. Rosenblatt Securities boosted their target price on shares of Micron Technology from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Raymond James boosted their price objective on Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Susquehanna decreased their price objective on Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a report on Thursday, September 26th. Finally, UBS Group decreased their price target 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 research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have given a buy rating to the stock. According to MarketBeat.com, Micron Technology presently has an average rating of “Moderate Buy” and a consensus price target of $143.04.

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the transaction, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.30% of the stock is owned by corporate insiders.

Micron Technology Stock Down 4.6 %

NASDAQ:MU opened at $98.10 on Wednesday. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. The stock’s fifty day moving average is $103.64 and its two-hundred day moving average is $110.23. Micron Technology, Inc. has a 52 week low of $76.96 and a 52 week high of $157.54. The stock has a market capitalization of $109.29 billion, a price-to-earnings ratio of 144.27 and a beta of 1.16.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.21. The business had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The business’s quarterly 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. Research analysts anticipate that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date was Monday, October 7th. Micron Technology’s dividend payout ratio is currently 67.65%.

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.