1834 Investment Advisors Co. Cuts Holdings in Micron Technology, Inc. (NASDAQ:MU)

1834 Investment Advisors Co. decreased its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 24.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,273 shares of the semiconductor manufacturer’s stock after selling 1,052 shares during the quarter. 1834 Investment Advisors Co.’s holdings in Micron Technology were worth $339,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Catalina Capital Group LLC increased its holdings in Micron Technology by 5.5% during the 3rd quarter. Catalina Capital Group LLC now owns 3,514 shares of the semiconductor manufacturer’s stock worth $364,000 after purchasing an additional 183 shares during the period. Beacon Financial Advisory LLC increased its holdings in shares of Micron Technology by 6.4% in the 3rd quarter. Beacon Financial Advisory LLC now owns 3,093 shares of the semiconductor manufacturer’s stock valued at $321,000 after acquiring an additional 186 shares during the last quarter. Crestwood Advisors Group LLC increased its holdings in shares of Micron Technology by 38.5% in the 3rd quarter. Crestwood Advisors Group LLC now owns 2,283 shares of the semiconductor manufacturer’s stock valued at $237,000 after acquiring an additional 635 shares during the last quarter. River Road Asset Management LLC increased its holdings in shares of Micron Technology by 9.1% in the 3rd quarter. River Road Asset Management LLC now owns 163,272 shares of the semiconductor manufacturer’s stock valued at $16,933,000 after acquiring an additional 13,573 shares during the last quarter. Finally, United Advisor Group LLC purchased a new position in shares of Micron Technology in the 3rd quarter valued at about $753,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction on Thursday, September 26th. The stock was 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 owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.32% of the stock is currently owned by company insiders.

Micron Technology Stock Performance

NASDAQ MU opened at $111.83 on Thursday. Micron Technology, Inc. has a 1-year low of $71.71 and a 1-year high of $157.54. The company has a market capitalization of $123.99 billion, a P/E ratio of 164.46 and a beta of 1.18. The business has a 50 day moving average price of $99.49 and a 200 day moving average price of $113.09. 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 (NASDAQ:MU) last released its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.21. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The firm had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.65 billion. During the same period last year, the business posted ($1.21) EPS. Micron Technology’s quarterly revenue was up 93.3% on a year-over-year basis. Sell-side analysts expect that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend was Monday, October 7th. Micron Technology’s payout ratio is 67.65%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Bank of America increased their price objective on Micron Technology from $110.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Rosenblatt Securities increased their price objective on Micron Technology from $225.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Cantor Fitzgerald reissued an “overweight” rating and issued a $150.00 target price on shares of Micron Technology in a research report on Tuesday, October 1st. Robert W. Baird decreased their target price on Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a research report on Friday, September 27th. Finally, Citigroup decreased their target price on Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat, Micron Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.04.

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.