Marcum Wealth LLC Sells 178 Shares of Micron Technology, Inc. (NASDAQ:MU)

Marcum Wealth LLC decreased its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 3.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,878 shares of the semiconductor manufacturer’s stock after selling 178 shares during the quarter. Marcum Wealth LLC’s holdings in Micron Technology were worth $506,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in MU. DecisionPoint Financial LLC bought a new position in Micron Technology in the 1st quarter worth about $25,000. Hobbs Group Advisors LLC purchased a new position in Micron Technology during the second quarter valued at approximately $28,000. Valued Wealth Advisors LLC increased its holdings in Micron Technology by 230.7% during the 1st quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $29,000 after acquiring an additional 173 shares during the period. Davis Capital Management purchased a new stake in Micron Technology in the 3rd quarter worth approximately $30,000. Finally, Richard W. Paul & Associates LLC boosted its holdings in Micron Technology by 128.6% in the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 144 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Performance

Shares of NASDAQ:MU opened at $105.69 on Friday. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. The company has a market cap of $117.19 billion, a price-to-earnings ratio of -74.43, a price-to-earnings-growth ratio of 0.20 and a beta of 1.18. Micron Technology, Inc. has a 12 month low of $63.88 and a 12 month high of $157.54. The company has a 50-day moving average price of $96.40 and a 200-day moving average price of $115.04.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping the consensus estimate of $0.97 by $0.21. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The business had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.65 billion. During the same period in the prior year, the business earned ($1.21) EPS. The company’s revenue for the quarter was up 93.3% on a year-over-year basis. As a group, equities analysts anticipate that Micron Technology, Inc. will post 0.61 EPS for the current year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th will be given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.44%. The ex-dividend date is Monday, October 7th. Micron Technology’s dividend payout ratio is currently -32.39%.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the company’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 in the company, valued at $15,348,790. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.32% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MU. JPMorgan Chase & Co. increased their price objective on Micron Technology from $130.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Needham & Company LLC reiterated a “buy” rating and set a $140.00 price target on shares of Micron Technology in a research report on Thursday, September 26th. Morgan Stanley upped their price objective on shares of Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. Citigroup dropped their target price on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. Finally, Susquehanna decreased their price target on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $142.85.

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.