Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Good Life Advisors LLC

Good Life Advisors LLC trimmed its position in Micron Technology, Inc. (NASDAQ:MU) by 7.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 8,134 shares of the semiconductor manufacturer’s stock after selling 667 shares during the period. Good Life Advisors LLC’s holdings in Micron Technology were worth $694,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fortis Capital Advisors LLC purchased a new stake in shares of Micron Technology during the 4th quarter worth $25,000. OFI Invest Asset Management purchased a new stake in shares of Micron Technology in the 3rd quarter worth about $27,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Micron Technology in the 3rd quarter worth about $28,000. Coppell Advisory Solutions LLC purchased a new stake in shares of Micron Technology in the 2nd quarter worth about $32,000. Finally, VisionPoint Advisory Group LLC raised its stake in Micron Technology by 68.3% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock valued at $33,000 after purchasing an additional 198 shares during the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Stock Performance

Shares of NASDAQ MU traded down $1.25 during midday trading on Thursday, reaching $117.89. 19,009,290 shares of the company traded hands, compared to its average volume of 18,932,242. Micron Technology, Inc. has a 52 week low of $56.01 and a 52 week high of $122.46. The stock has a 50-day moving average price of $90.63 and a 200 day moving average price of $80.38. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. The company has a market cap of $130.55 billion, a price-to-earnings ratio of -34.31 and a beta of 1.24.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.69. The business had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The company’s revenue was up 57.7% on a year-over-year basis. During the same period in the previous year, the business earned ($2.03) earnings per share. Sell-side analysts anticipate that Micron Technology, Inc. will post 0.01 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 16th. Investors of record on Monday, April 1st will be paid a $0.115 dividend. The ex-dividend date is Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a yield of 0.39%. Micron Technology’s dividend payout ratio is currently -13.33%.

Analysts Set New Price Targets

MU has been the subject of a number of research analyst reports. Fox Advisors raised shares of Micron Technology from an “equal weight” rating to an “overweight” rating in a research note on Thursday, March 21st. Deutsche Bank Aktiengesellschaft raised their price target on shares of Micron Technology from $85.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, December 21st. Citigroup raised their price target on shares of Micron Technology from $95.00 to $150.00 and gave the company a “buy” rating in a report on Friday, March 15th. Wedbush increased their price objective on shares of Micron Technology from $103.00 to $130.00 and gave the company an “outperform” rating in a research report on Thursday, March 21st. Finally, Piper Sandler increased their price objective on shares of Micron Technology from $95.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $118.69.

Insider Buying and Selling

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $82.13, for a total transaction of $574,910.00. Following the transaction, the chief executive officer now owns 651,759 shares of the company’s stock, valued at approximately $53,528,966.67. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders have sold 264,000 shares of company stock valued at $26,368,640. 0.32% of the stock is owned by corporate 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.