Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Proficio Capital Partners LLC

Proficio Capital Partners LLC cut its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 36.8% in the 3rd quarter, Holdings Channel reports. The fund owned 2,322 shares of the semiconductor manufacturer’s stock after selling 1,351 shares during the period. Proficio Capital Partners LLC’s holdings in Micron Technology were worth $241,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hobbs Group Advisors LLC bought a new stake in shares of Micron Technology in the 2nd quarter worth about $28,000. Highline Wealth Partners LLC acquired a new position in Micron Technology in the third quarter worth about $26,000. Richard W. Paul & Associates LLC raised its stake in Micron Technology by 128.6% during the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 144 shares in the last quarter. LRI Investments LLC raised its stake in Micron Technology by 57.2% during the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock valued at $36,000 after buying an additional 99 shares in the last quarter. Finally, Davis Capital Management bought a new position in Micron Technology during the 3rd quarter worth approximately $30,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $111.90 on Monday. The company has a market capitalization of $124.07 billion, a PE ratio of 164.56 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. The stock has a fifty day moving average of $100.16 and a 200-day moving average of $113.12. Micron Technology, Inc. has a one year low of $72.93 and a one year high of $157.54.

Micron Technology (NASDAQ:MU) last announced its 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 during the quarter, compared to the consensus estimate of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. Micron Technology’s revenue was up 93.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($1.21) earnings per share. As a group, equities analysts anticipate that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were given 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 0.41%. Micron Technology’s dividend payout ratio (DPR) is presently 67.65%.

Analysts Set New Price Targets

MU has been the topic of several research reports. Wedbush reissued an “outperform” rating and set a $140.00 price target on shares of Micron Technology in a research report on Thursday, September 26th. Morgan Stanley raised 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 report on Thursday, September 26th. China Renaissance initiated coverage on shares of Micron Technology in a research report on Monday, October 28th. They set a “buy” rating and a $148.00 price objective for the company. BNP Paribas lowered Micron Technology from an “outperform” rating to an “underperform” rating and lowered their target price for the company from $140.00 to $67.00 in a report on Thursday, September 12th. Finally, TD Cowen increased their price target on Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. One 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 company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.04.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 4,890 shares of the 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 completion of the sale, the executive vice president now owns 135,830 shares in the company, valued at $15,348,790. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.32% of the company’s stock.

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.