Moss Adams Wealth Advisors LLC Sells 399 Shares of Micron Technology, Inc. (NASDAQ:MU)

Moss Adams Wealth Advisors LLC decreased its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 15.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 2,163 shares of the semiconductor manufacturer’s stock after selling 399 shares during the period. Moss Adams Wealth Advisors LLC’s holdings in Micron Technology were worth $224,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Clearbridge Investments LLC lifted its position in Micron Technology by 1.1% during the 1st quarter. Clearbridge Investments LLC now owns 1,931,811 shares of the semiconductor manufacturer’s stock worth $227,741,000 after acquiring an additional 20,741 shares during the last quarter. Chapin Davis Inc. acquired a new position in shares of Micron Technology during the 2nd quarter worth about $4,056,000. Handelsbanken Fonder AB boosted its stake in Micron Technology by 2.4% during the 3rd quarter. Handelsbanken Fonder AB now owns 434,596 shares of the semiconductor manufacturer’s stock valued at $45,072,000 after purchasing an additional 9,992 shares during the period. Norden Group LLC grew its holdings in Micron Technology by 1,916.7% in the 1st quarter. Norden Group LLC now owns 50,134 shares of the semiconductor manufacturer’s stock valued at $5,910,000 after buying an additional 47,648 shares during the last quarter. Finally, Westwood Holdings Group Inc. bought a new position in Micron Technology in the 1st quarter worth approximately $8,558,000. 80.84% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were 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 of the company’s stock, valued at approximately $15,348,790. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.32% of the stock is currently owned by insiders.

Micron Technology Stock Down 0.8 %

Shares of NASDAQ MU opened at $111.15 on Friday. Micron Technology, Inc. has a 12-month low of $63.88 and a 12-month high of $157.54. The firm’s 50-day simple moving average is $98.64 and its 200 day simple moving average is $114.48. 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 company has a market cap of $123.25 billion, a price-to-earnings ratio of -78.27 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, beating 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 business had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.65 billion. During the same period in the prior year, the firm earned ($1.21) earnings per share. Micron Technology’s revenue was up 93.3% compared to the same quarter last year. On average, research analysts expect that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th will be given a dividend of $0.115 per share. The ex-dividend date is Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.41%. Micron Technology’s payout ratio is currently -32.39%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on MU shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $150.00 price objective on shares of Micron Technology in a research report on Tuesday, October 1st. Robert W. Baird decreased their price target on shares of Micron Technology from $172.00 to $150.00 and set an “outperform” rating on the stock in a research report on Friday, September 27th. Wedbush reaffirmed an “outperform” rating and set a $140.00 price objective on shares of Micron Technology in a research report on Thursday, September 26th. The Goldman Sachs Group lifted their target price on Micron Technology from $138.00 to $158.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Finally, KeyCorp cut their price target on Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $142.85.

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.