Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Waddell & Associates LLC

Waddell & Associates LLC cut its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 5.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,261 shares of the semiconductor manufacturer’s stock after selling 123 shares during the quarter. Waddell & Associates LLC’s holdings in Micron Technology were worth $297,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. increased its stake in shares of Micron Technology by 26.5% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 2,757 shares of the semiconductor manufacturer’s stock worth $235,000 after purchasing an additional 577 shares in the last quarter. Spire Wealth Management lifted its position in shares of Micron Technology by 9.6% in the fourth quarter. Spire Wealth Management now owns 2,034 shares of the semiconductor manufacturer’s stock valued at $178,000 after acquiring an additional 179 shares in the last quarter. Lincoln National Corp boosted its stake in shares of Micron Technology by 13.3% during the fourth quarter. Lincoln National Corp now owns 8,059 shares of the semiconductor manufacturer’s stock valued at $688,000 after acquiring an additional 948 shares during the last quarter. Wealthspire Advisors LLC purchased a new stake in Micron Technology during the 4th quarter worth about $256,000. Finally, Principal Securities Inc. acquired a new position in Micron Technology in the 4th quarter valued at about $1,009,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MU has been the subject of a number of recent research reports. Morgan Stanley lifted their price target on shares of Micron Technology from $130.00 to $140.00 and gave the stock an “equal weight” rating in a report on Monday, June 24th. Barclays boosted their price target on Micron Technology from $120.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, May 13th. Citigroup raised their price objective on Micron Technology from $150.00 to $175.00 and gave the stock a “buy” rating in a report on Monday, June 24th. UBS Group reduced their target price on Micron Technology from $155.00 to $153.00 and set a “buy” rating on the stock in a research report on Thursday, June 27th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $225.00 price target on shares of Micron Technology in a research note on Tuesday, June 25th. Two investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $157.12.

Insider Transactions at Micron Technology

In other news, CEO Sanjay Mehrotra sold 34,284 shares of the company’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $152.28, for a total value of $5,220,767.52. Following the sale, the chief executive officer now owns 719,049 shares in the company, valued at approximately $109,496,781.72. 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 34,284 shares of Micron Technology stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $152.28, for a total value of $5,220,767.52. Following the completion of the transaction, the chief executive officer now owns 719,049 shares of the company’s stock, valued at $109,496,781.72. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $135.86, for a total transaction of $664,355.40. Following the sale, the executive vice president now directly owns 142,321 shares in the company, valued at $19,335,731.06. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,174 shares of company stock valued at $6,827,113. 0.32% of the stock is currently owned by corporate insiders.

Micron Technology Stock Down 3.4 %

NASDAQ:MU traded down $3.01 during trading hours on Friday, hitting $86.38. The stock had a trading volume of 23,388,281 shares, compared to its average volume of 21,325,547. The company has a market cap of $95.78 billion, a PE ratio of -60.83 and a beta of 1.17. The business has a 50 day simple moving average of $108.72 and a two-hundred day simple moving average of $114.80. Micron Technology, Inc. has a 1-year low of $63.83 and a 1-year high of $157.54. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.14. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The company had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.67 billion. During the same period last year, the firm earned ($1.57) earnings per share. The company’s revenue was up 81.5% on a year-over-year basis. Analysts predict that Micron Technology, Inc. will post 0.58 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th were paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.53%. The ex-dividend date was Monday, July 8th. Micron Technology’s dividend payout ratio (DPR) is currently -32.39%.

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.