Lindbrook Capital LLC Decreases Stake in Micron Technology, Inc. (NASDAQ:MU)

Lindbrook Capital LLC cut its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 7.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,126 shares of the semiconductor manufacturer’s stock after selling 315 shares during the period. Lindbrook Capital LLC’s holdings in Micron Technology were worth $428,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MU. PFG Advisors bought a new position in shares of Micron Technology during the 1st quarter valued at $282,000. KCM Investment Advisors LLC purchased a new position in Micron Technology in the first quarter worth about $252,000. Atomi Financial Group Inc. grew its stake in shares of Micron Technology by 17.8% during the 1st quarter. Atomi Financial Group Inc. now owns 6,093 shares of the semiconductor manufacturer’s stock valued at $718,000 after purchasing an additional 920 shares during the period. Keudell Morrison Wealth Management purchased a new stake in shares of Micron Technology during the 1st quarter valued at about $227,000. Finally, Stonebrook Private Inc. bought a new position in shares of Micron Technology in the 1st quarter worth approximately $260,000. 80.84% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction 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 sale, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at approximately $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 can be accessed through this link. Insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Stifel Nicolaus decreased their price target on shares of Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, September 19th. Susquehanna lowered their target price on Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a research report on Thursday, September 26th. KeyCorp reduced their price target on Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, October 8th. TD Cowen lifted their price objective on Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, UBS Group decreased their target price on shares of Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $143.04.

Micron Technology Price Performance

NASDAQ:MU opened at $111.90 on Friday. The firm has a market capitalization of $124.07 billion, a price-to-earnings ratio of 164.56 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. The business has a 50 day simple moving average of $100.16 and a 200-day simple moving average of $113.12. Micron Technology, Inc. has a 1 year low of $72.93 and a 1 year high of $157.54.

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

Micron Technology Announces Dividend

The firm also recently announced 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. The ex-dividend date was Monday, October 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.41%. Micron Technology’s dividend payout ratio (DPR) is presently 67.65%.

Micron Technology 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.