Sigma Planning Corp Sells 1,324 Shares of Micron Technology, Inc. (NASDAQ:MU)

Sigma Planning Corp trimmed its position in Micron Technology, Inc. (NASDAQ:MU) by 6.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,680 shares of the semiconductor manufacturer’s stock after selling 1,324 shares during the period. Sigma Planning Corp’s holdings in Micron Technology were worth $1,656,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MU. Van ECK Associates Corp grew its stake in shares of Micron Technology by 30.6% in the 3rd quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock worth $1,109,769,000 after acquiring an additional 2,477,985 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Micron Technology by 21.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock worth $1,174,643,000 after acquiring an additional 2,022,180 shares in the last quarter. State Street Corp grew its position in Micron Technology by 3.1% in the 3rd quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock worth $5,001,592,000 after purchasing an additional 1,434,568 shares in the last quarter. Worldquant Millennium Advisors LLC grew its position in Micron Technology by 254.4% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 1,859,416 shares of the semiconductor manufacturer’s stock worth $192,840,000 after purchasing an additional 1,334,690 shares in the last quarter. Finally, Bridgewater Associates LP bought a new stake in Micron Technology in the 3rd quarter worth about $102,018,000. 80.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MU shares. Mizuho reduced their target price on Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. Robert W. Baird reduced their price objective on Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a research note on Thursday, December 19th. China Renaissance began coverage on Micron Technology in a research note on Monday, October 28th. They issued a “buy” rating and a $148.00 price objective for the company. Stifel Nicolaus reduced their price objective on Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Finally, Barclays reduced their price target on shares of Micron Technology from $145.00 to $110.00 and set an “overweight” rating for the company in a research report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $134.96.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the transaction, the executive vice president now directly owns 181,223 shares in the company, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.30% of the stock is owned by insiders.

Micron Technology Stock Performance

Micron Technology stock opened at $98.78 on Monday. Micron Technology, Inc. has a 1-year low of $83.54 and a 1-year high of $157.54. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $110.06 billion, a PE ratio of 28.47 and a beta of 1.18. The firm’s 50 day simple moving average is $96.28 and its 200 day simple moving average is $98.91.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating the consensus estimate of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. During the same period last year, the firm earned ($0.95) EPS. The business’s quarterly revenue was up 84.3% compared to the same quarter last year. As a group, analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.47%. The ex-dividend date was Monday, December 30th. Micron Technology’s payout ratio is 13.26%.

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.