Micron Technology, Inc. (NASDAQ:MU) Stock Holdings Lessened by Delta Capital Management LLC

Delta Capital Management LLC lowered its stake in Micron Technology, Inc. (NASDAQ:MU) by 0.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,225 shares of the semiconductor manufacturer’s stock after selling 350 shares during the quarter. Micron Technology makes up 1.5% of Delta Capital Management LLC’s investment portfolio, making the stock its 12th largest holding. Delta Capital Management LLC’s holdings in Micron Technology were worth $4,068,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also made changes to their positions in MU. Syon Capital LLC boosted its position in Micron Technology by 44.8% during the fourth quarter. Syon Capital LLC now owns 10,655 shares of the semiconductor manufacturer’s stock valued at $909,000 after purchasing an additional 3,295 shares during the last quarter. Scarborough Advisors LLC acquired a new stake in Micron Technology during the fourth quarter valued at approximately $43,000. SageView Advisory Group LLC bought a new stake in Micron Technology in the fourth quarter valued at $587,000. Sivia Capital Partners LLC bought a new stake in shares of Micron Technology in the 4th quarter worth about $208,000. Finally, Napatree Capital LLC bought a new stake in Micron Technology during the fourth quarter worth about $684,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Piper Sandler raised their target price on Micron Technology from $130.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Wells Fargo & Company dropped their target price on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a research report on Wednesday, September 18th. UBS Group cut their price target on shares of Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Bank of America lifted their target price on Micron Technology from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, KeyCorp cut their price target on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $142.85.

Micron Technology Stock Performance

MU opened at $106.92 on Monday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. The business has a fifty day simple moving average of $96.76 and a 200 day simple moving average of $114.85. Micron Technology, Inc. has a 1 year low of $63.88 and a 1 year high of $157.54. The company has a market capitalization of $118.56 billion, a PE ratio of -75.30 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, beating the consensus estimate of $0.97 by $0.21. The business had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. Micron Technology’s revenue was up 93.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.21) earnings per share. Research analysts expect that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th will be given a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.43%. Micron Technology’s payout ratio is -32.39%.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $15,348,790. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.32% of the stock is currently owned by insiders.

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.