Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC lowered its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 44.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,027 shares of the semiconductor manufacturer’s stock after selling 12,153 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Micron Technology were worth $1,558,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. TCV Trust & Wealth Management Inc. acquired a new stake in Micron Technology during the third quarter worth approximately $210,000. Clear Harbor Asset Management LLC raised its stake in Micron Technology by 5.4% during the third quarter. Clear Harbor Asset Management LLC now owns 20,311 shares of the semiconductor manufacturer’s stock worth $2,106,000 after purchasing an additional 1,044 shares during the period. Bristlecone Advisors LLC purchased a new position in Micron Technology during the third quarter worth approximately $417,000. Modera Wealth Management LLC raised its stake in Micron Technology by 14.9% during the third quarter. Modera Wealth Management LLC now owns 4,093 shares of the semiconductor manufacturer’s stock worth $425,000 after purchasing an additional 531 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Micron Technology by 321.7% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 318,110 shares of the semiconductor manufacturer’s stock worth $32,991,000 after purchasing an additional 242,666 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Price Performance

Shares of MU stock opened at $107.91 on Friday. The firm has a market cap of $119.66 billion, a P/E ratio of -75.99 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 1-year low of $63.88 and a 1-year high of $157.54. The firm has a fifty day moving average of $99.22 and a two-hundred day moving average of $113.89.

Micron Technology (NASDAQ:MU) last announced 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 company had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.65 billion. During the same period last year, the business earned ($1.21) EPS. The firm’s revenue for the quarter was up 93.3% compared to the same quarter last year. As a group, research analysts anticipate that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend was Monday, October 7th. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on MU shares. BNP Paribas downgraded shares of Micron Technology from an “outperform” rating to an “underperform” rating and cut their price target for the stock from $140.00 to $67.00 in a research note on Thursday, September 12th. TD Cowen increased their price target on shares of Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Susquehanna cut their target price on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a research note on Thursday, September 26th. Citigroup cut their target price on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. Finally, Robert W. Baird cut their target price on shares of Micron Technology from $172.00 to $150.00 and set an “outperform” rating on the stock in a research note on Friday, September 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $142.85.

Insider Activity

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the transaction, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at $15,348,790. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.32% of the company’s stock.

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.