Micron Technology, Inc. (NASDAQ:MU) Stock Position Reduced by Aviso Wealth Management

Aviso Wealth Management lessened its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 3.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 8,931 shares of the semiconductor manufacturer’s stock after selling 348 shares during the quarter. Aviso Wealth Management’s holdings in Micron Technology were worth $926,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of MU. TIAA Trust National Association acquired a new stake in Micron Technology in the 1st quarter valued at approximately $327,000. Acadian Asset Management LLC increased its position in Micron Technology by 487.7% in the 1st quarter. Acadian Asset Management LLC now owns 132,882 shares of the semiconductor manufacturer’s stock valued at $15,660,000 after acquiring an additional 110,271 shares during the period. O Shaughnessy Asset Management LLC increased its position in Micron Technology by 3.2% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 98,524 shares of the semiconductor manufacturer’s stock valued at $11,615,000 after acquiring an additional 3,016 shares during the period. Clearbridge Investments LLC increased its position in Micron Technology by 1.1% in the 1st quarter. Clearbridge Investments LLC now owns 1,931,811 shares of the semiconductor manufacturer’s stock valued at $227,741,000 after acquiring an additional 20,741 shares during the period. Finally, Capitolis Liquid Global Markets LLC increased its position in Micron Technology by 46.0% in the 1st quarter. Capitolis Liquid Global Markets LLC now owns 1,269,000 shares of the semiconductor manufacturer’s stock valued at $149,602,000 after acquiring an additional 400,000 shares during the period. Institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Down 2.9 %

Shares of MU opened at $96.34 on Monday. The company has a market capitalization of $106.82 billion, a P/E ratio of 141.68 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. Micron Technology, Inc. has a one year low of $72.93 and a one year high of $157.54. The business’s 50 day simple moving average is $101.33 and its 200-day simple moving average is $112.74.

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

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.48%. The ex-dividend date was Monday, October 7th. Micron Technology’s payout ratio is 67.65%.

Insider Buying and Selling at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were 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 $15,348,790. This represents a 3.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Morgan Stanley lifted their price target on Micron Technology from $100.00 to $114.00 and gave the company an “equal weight” rating in a research report on Thursday, September 26th. TD Cowen raised their price objective on Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Cantor Fitzgerald reissued an “overweight” rating and set a $150.00 price objective on shares of Micron Technology in a research note on Tuesday, October 1st. Needham & Company LLC reissued a “buy” rating and set a $140.00 price objective on shares of Micron Technology in a research note on Thursday, September 26th. Finally, Wedbush reissued an “outperform” rating and set a $140.00 price objective on shares of Micron Technology in a research note on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $143.04.

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.