Micron Technology, Inc. (NASDAQ:MU) Holdings Decreased by CWA Asset Management Group LLC

CWA Asset Management Group LLC lowered its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 6.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,681 shares of the semiconductor manufacturer’s stock after selling 3,331 shares during the quarter. CWA Asset Management Group LLC’s holdings in Micron Technology were worth $3,882,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sunbeam Capital Management LLC acquired a new position in Micron Technology during the 4th quarter valued at approximately $26,000. Opal Wealth Advisors LLC acquired a new position in Micron Technology during the 1st quarter worth $33,000. Midwest Capital Advisors LLC acquired a new position in Micron Technology during the 4th quarter worth $33,000. Roxbury Financial LLC boosted its position in Micron Technology by 306.1% during the 1st quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer’s stock worth $37,000 after acquiring an additional 300 shares during the period. Finally, Curio Wealth LLC acquired a new position in Micron Technology during the 4th quarter worth $34,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Activity at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 3,562 shares of the company’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $110.46, for a total value of $393,458.52. Following the completion of the transaction, the chief executive officer now owns 391,113 shares of the company’s stock, valued at $43,202,341.98. This represents a 0.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP April S. Arnzen sold 15,000 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 164,769 shares of the company’s stock, valued at approximately $15,847,482.42. This trade represents a 8.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,904 shares of company stock worth $4,665,124 in the last 90 days. 0.30% of the stock is owned by company insiders.

Micron Technology Stock Performance

MU opened at $120.34 on Wednesday. The company has a market cap of $134.49 billion, a PE ratio of 28.86 and a beta of 1.28. The stock has a 50-day moving average of $90.13 and a 200-day moving average of $92.87. 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 1.99 and a current ratio of 3.13.

Micron Technology (NASDAQ:MU) last released its quarterly 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 company had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a return on equity of 10.87% and a net margin of 14.92%. The firm’s revenue was up 38.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.42 EPS. As a group, equities research analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.46 annualized dividend and a yield of 0.38%. Micron Technology’s payout ratio is 11.03%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Rosenblatt Securities reduced their price target on Micron Technology from $250.00 to $200.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Wall Street Zen upgraded Micron Technology from a “hold” rating to a “buy” rating in a report on Saturday. Robert W. Baird upped their price objective on Micron Technology from $130.00 to $163.00 and gave the company an “outperform” rating in a report on Friday, March 21st. Wedbush restated an “underperform” rating on shares of Micron Technology in a report on Monday, April 28th. Finally, Morgan Stanley cut their price objective on Micron Technology from $112.00 to $98.00 and set an “equal weight” rating for the company in a report on Wednesday, May 7th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Micron Technology has a consensus rating of “Moderate Buy” and an average price target of $129.00.

About Micron Technology

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.