Raymond James Trust N.A. Sells 4,121 Shares of Micron Technology, Inc. (NASDAQ:MU)

Raymond James Trust N.A. lowered its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 13.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,884 shares of the semiconductor manufacturer’s stock after selling 4,121 shares during the period. Raymond James Trust N.A.’s holdings in Micron Technology were worth $3,405,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Tidemark LLC purchased a new stake in shares of Micron Technology in the fourth quarter worth $25,000. DecisionPoint Financial LLC bought a new stake in Micron Technology during the first quarter worth about $25,000. Pingora Partners LLC purchased a new position in shares of Micron Technology in the 4th quarter worth about $26,000. Hobbs Group Advisors LLC bought a new position in shares of Micron Technology during the 2nd quarter valued at about $28,000. Finally, Frank Rimerman Advisors LLC bought a new stake in Micron Technology in the 4th quarter worth approximately $29,000. Institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Down 1.6 %

Shares of Micron Technology stock traded down $1.65 during trading on Monday, hitting $101.20. The company’s stock had a trading volume of 2,888,174 shares, compared to its average volume of 21,225,580. Micron Technology, Inc. has a 52 week low of $63.83 and a 52 week high of $157.54. The company has a market capitalization of $112.21 billion, a PE ratio of -72.43 and a beta of 1.18. The company has a fifty day simple moving average of $118.55 and a two-hundred day simple moving average of $114.25. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 3.41.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, topping 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 business had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $6.67 billion. During the same quarter in the prior year, the company earned ($1.57) earnings per share. The business’s revenue was up 81.5% compared to the same quarter last year. Equities research analysts predict that Micron Technology, Inc. will post 0.58 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend was Monday, July 8th. Micron Technology’s payout ratio is -32.39%.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 4,890 shares of the company’s 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 transaction, the executive vice president now owns 142,321 shares in the company, valued at approximately $19,335,731.06. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $126.14, for a total transaction of $882,980.00. Following the sale, the chief executive officer now directly owns 719,049 shares in the company, valued at approximately $90,700,840.86. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction 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 directly owns 142,321 shares of the company’s stock, valued at approximately $19,335,731.06. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,174 shares of company stock valued at $8,635,073. 0.32% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

MU has been the subject of a number of recent research reports. Susquehanna lowered their price objective on shares of Micron Technology from $185.00 to $175.00 and set a “positive” rating for the company in a report on Thursday. Rosenblatt Securities reissued a “buy” rating and issued a $225.00 target price on shares of Micron Technology in a research note on Tuesday, June 25th. JPMorgan Chase & Co. raised their price target on Micron Technology from $130.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Wolfe Research raised their target price on shares of Micron Technology from $150.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, June 21st. Finally, Bank of America upped their price target on shares of Micron Technology from $144.00 to $170.00 and gave the company a “buy” rating in a report on Monday, June 17th. Two analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $157.12.

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.