Geller Advisors LLC Trims Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Geller Advisors LLC lowered its stake in Micron Technology, Inc. (NASDAQ:MU) by 19.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,236 shares of the semiconductor manufacturer’s stock after selling 797 shares during the quarter. Geller Advisors LLC’s holdings in Micron Technology were worth $273,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of MU. Trivant Custom Portfolio Group LLC raised its holdings in shares of Micron Technology by 20.0% in the fourth quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer’s stock valued at $50,000 after buying an additional 100 shares during the last quarter. Xcel Wealth Management LLC increased its holdings in shares of Micron Technology by 1.8% in the fourth quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer’s stock valued at $518,000 after purchasing an additional 108 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its holdings in Micron Technology by 3.8% during the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer’s stock worth $250,000 after buying an additional 108 shares in the last quarter. Twin Capital Management Inc. raised its position in shares of Micron Technology by 0.5% during the fourth quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer’s stock worth $1,688,000 after acquiring an additional 108 shares during the last quarter. Finally, Lebenthal Global Advisors LLC lifted its stake in shares of Micron Technology by 1.5% during the fourth quarter. Lebenthal Global Advisors LLC now owns 7,474 shares of the semiconductor manufacturer’s stock valued at $629,000 after acquiring an additional 114 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MU. JPMorgan Chase & Co. decreased their price target on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Friday, March 21st. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Micron Technology in a research report on Monday, April 28th. Citigroup lowered their target price on Micron Technology from $120.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, April 11th. KGI Securities raised shares of Micron Technology to a “strong-buy” rating in a research note on Friday, February 21st. Finally, Royal Bank of Canada set a $125.00 price objective on shares of Micron Technology in a report on Wednesday, March 19th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $126.48.

Micron Technology Stock Up 0.8 %

Shares of NASDAQ:MU opened at $85.86 on Friday. The company has a fifty day moving average of $82.62 and a 200-day moving average of $93.07. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $157.54. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The company has a market capitalization of $95.95 billion, a PE ratio of 24.74 and a beta of 1.21.

Micron Technology (NASDAQ:MU) last announced its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.13. The business had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. Micron Technology’s revenue for the quarter was up 38.2% compared to the same quarter last year. During the same period last year, the company earned $0.42 EPS. On average, equities analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.115 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.46 annualized dividend and a yield of 0.54%. Micron Technology’s payout ratio is 11.03%.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the firm’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the completion of the sale, the executive vice president now directly owns 164,769 shares in the company, valued at approximately $15,847,482.42. This trade represents a 8.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the transaction, the director now directly owns 27,358 shares in the company, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,808 shares of company stock valued at $1,858,424. 0.30% of the stock is currently owned by insiders.

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.