Mosaic Family Wealth Partners LLC Sells 850 Shares of Micron Technology, Inc. (NASDAQ:MU)

Mosaic Family Wealth Partners LLC trimmed its position in Micron Technology, Inc. (NASDAQ:MU) by 6.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,029 shares of the semiconductor manufacturer’s stock after selling 850 shares during the quarter. Mosaic Family Wealth Partners LLC’s holdings in Micron Technology were worth $1,418,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Parsons Capital Management Inc. RI acquired a new position in Micron Technology in the 4th quarter valued at about $205,000. Physician Wealth Advisors Inc. acquired a new position in shares of Micron Technology during the 4th quarter worth approximately $202,000. Beacon Financial Advisory LLC acquired a new position in shares of Micron Technology during the 4th quarter worth approximately $216,000. StrategIQ Financial Group LLC acquired a new position in shares of Micron Technology during the 4th quarter worth approximately $204,000. Finally, Trust Point Inc. acquired a new position in shares of Micron Technology during the 4th quarter worth approximately $331,000. 80.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Raymond James increased their price target on shares of Micron Technology from $130.00 to $160.00 and gave the stock an “outperform” rating in a research report on Friday, June 21st. Stifel Nicolaus increased their price target on shares of Micron Technology from $140.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. Needham & Company LLC increased their price target on shares of Micron Technology from $120.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Wolfe Research increased their price target on shares of Micron Technology from $150.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, June 21st. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $225.00 price target on shares of Micron Technology in a research report on Tuesday, June 25th. Two investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat, Micron Technology currently has a consensus rating of “Moderate Buy” and an average target price of $158.72.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $135.86, for a total value of $664,355.40. Following the sale, the executive vice president now owns 142,321 shares of the company’s stock, valued at $19,335,731.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Sumit Sadana sold 13,239 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $118.77, for a total value of $1,572,396.03. Following the sale, the executive vice president now owns 260,857 shares of the company’s stock, valued at $30,981,985.89. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the business’s 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 directly owns 142,321 shares in the company, valued at approximately $19,335,731.06. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 174,730 shares of company stock valued at $22,485,299. Company insiders own 0.32% of the company’s stock.

Micron Technology Stock Down 8.7 %

Shares of NASDAQ MU traded down $8.81 during mid-day trading on Friday, reaching $92.70. 36,039,440 shares of the company’s stock traded hands, compared to its average volume of 23,484,150. The stock has a market cap of $102.79 billion, a P/E ratio of -65.28 and a beta of 1.18. The business has a 50-day simple moving average of $128.53 and a 200 day simple moving average of $112.73. Micron Technology, Inc. has a 1-year low of $61.75 and a 1-year high of $157.54. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (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 analysts’ expectations of $6.67 billion. During the same period last year, the company earned ($1.57) earnings per share. The business’s revenue was up 81.5% on a year-over-year basis. On average, analysts expect that Micron Technology, Inc. will post 0.58 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th were given a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend was Monday, July 8th. Micron Technology’s dividend payout ratio is -32.39%.

About Micron Technology

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.