Micron Technology, Inc. (NASDAQ:MU) Shares Sold by RDA Financial Network

RDA Financial Network trimmed its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 3.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,775 shares of the semiconductor manufacturer’s stock after selling 267 shares during the quarter. RDA Financial Network’s holdings in Micron Technology were worth $676,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in MU. Sunbeam Capital Management LLC acquired a new position in Micron Technology during the fourth quarter worth about $26,000. Beacon Capital Management LLC grew its holdings in shares of Micron Technology by 114.9% in the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after acquiring an additional 200 shares during the period. Midwest Capital Advisors LLC acquired a new stake in shares of Micron Technology in the 4th quarter worth approximately $33,000. Comprehensive Financial Planning Inc. PA acquired a new stake in Micron Technology in the fourth quarter valued at $34,000. Finally, Activest Wealth Management grew its holdings in Micron Technology by 583.3% in the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 350 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Price Performance

Shares of NASDAQ MU opened at $108.56 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $157.54. The business’s fifty day moving average price is $83.97 and its two-hundred day moving average price is $92.13. The firm has a market capitalization of $121.32 billion, a PE ratio of 31.29 and a beta of 1.28.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. The company had revenue of $8.05 billion for 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%. The company’s quarterly revenue was up 38.2% compared to the same quarter last year. During the same period last year, the company earned $0.42 earnings per share. On average, research analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology’s dividend payout ratio is presently 11.03%.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 15,000 shares of the business’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the transaction, the executive vice president now directly owns 164,769 shares in the company, valued at $15,847,482.42. The trade was a 8.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $80.00, for a total value of $192,320.00. Following the sale, the director now owns 24,954 shares of the company’s stock, valued at approximately $1,996,320. This represents a 8.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MU. Mizuho increased their target price on Micron Technology from $124.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday. JPMorgan Chase & Co. decreased their price objective on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Robert W. Baird increased their price objective on Micron Technology from $130.00 to $163.00 and gave the company an “outperform” rating in a research note on Friday, March 21st. UBS Group raised their price target on shares of Micron Technology from $92.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Royal Bank of Canada set a $125.00 price target on shares of Micron Technology in a research note on Wednesday, March 19th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $128.20.

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.