Circle Wealth Management LLC Sells 2,234 Shares of Micron Technology, Inc. (NASDAQ:MU)

Circle Wealth Management LLC lowered its holdings in Micron Technology, Inc. (NASDAQ:MU) by 16.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 11,027 shares of the semiconductor manufacturer’s stock after selling 2,234 shares during the quarter. Circle Wealth Management LLC’s holdings in Micron Technology were worth $1,144,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Lazard Freres Gestion S.A.S. grew its stake in Micron Technology by 241.7% in the third quarter. Lazard Freres Gestion S.A.S. now owns 41,000 shares of the semiconductor manufacturer’s stock worth $4,252,000 after purchasing an additional 29,000 shares during the period. Chartwell Investment Partners LLC grew its stake in shares of Micron Technology by 26.4% in the 3rd quarter. Chartwell Investment Partners LLC now owns 195,115 shares of the semiconductor manufacturer’s stock worth $20,236,000 after buying an additional 40,802 shares during the last quarter. Global X Japan Co. Ltd. boosted its holdings in Micron Technology by 23.1% in the third quarter. Global X Japan Co. Ltd. now owns 51,832 shares of the semiconductor manufacturer’s stock worth $5,375,000 after acquiring an additional 9,735 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Micron Technology by 1.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,721,126 shares of the semiconductor manufacturer’s stock valued at $697,048,000 after buying an additional 65,591 shares during the last quarter. Finally, River Road Asset Management LLC increased its position in shares of Micron Technology by 9.1% during the third 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 in the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MU has been the topic of several recent analyst reports. Wedbush reiterated an “outperform” rating and set a $140.00 target price on shares of Micron Technology in a research note on Thursday, September 26th. Bank of America boosted their target price on shares of Micron Technology from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Morgan Stanley lifted their price target on shares of Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 26th. Citigroup decreased their target price on Micron Technology from $175.00 to $150.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. Finally, Raymond James upped their price target on Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $143.04.

Micron Technology Price Performance

MU opened at $97.95 on Friday. The business has a fifty day moving average of $103.60 and a 200 day moving average of $111.53. The stock has a market cap of $108.60 billion, a P/E ratio of 144.04 and a beta of 1.18. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a 52-week low of $72.93 and a 52-week high of $157.54.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates 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%. The firm’s revenue for the quarter was up 93.3% on a year-over-year basis. During the same quarter last year, the business posted ($1.21) EPS. As a group, sell-side analysts anticipate that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were issued a $0.115 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.47%. Micron Technology’s payout ratio is currently 67.65%.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the transaction, the executive vice president now directly owns 135,830 shares in the company, valued at approximately $15,348,790. This trade represents a 3.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.32% of the stock is owned by company insiders.

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.