Micron Technology, Inc. $MU Shares Sold by Perigon Wealth Management LLC

Perigon Wealth Management LLC trimmed its holdings in Micron Technology, Inc. (NASDAQ:MU) by 14.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 36,454 shares of the semiconductor manufacturer’s stock after selling 6,270 shares during the period. Perigon Wealth Management LLC’s holdings in Micron Technology were worth $4,493,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Micron Technology by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 101,906,368 shares of the semiconductor manufacturer’s stock worth $8,854,644,000 after purchasing an additional 2,049,163 shares during the period. Goldman Sachs Group Inc. lifted its position in Micron Technology by 23.8% in the first quarter. Goldman Sachs Group Inc. now owns 10,616,488 shares of the semiconductor manufacturer’s stock valued at $922,467,000 after buying an additional 2,038,641 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Micron Technology by 0.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 6,938,848 shares of the semiconductor manufacturer’s stock worth $602,917,000 after buying an additional 58,285 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Micron Technology by 26.3% during the first quarter. Dimensional Fund Advisors LP now owns 6,800,052 shares of the semiconductor manufacturer’s stock valued at $590,807,000 after acquiring an additional 1,416,174 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Micron Technology by 0.4% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,366,631 shares of the semiconductor manufacturer’s stock valued at $379,417,000 after acquiring an additional 17,970 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Down 3.0%

MU stock opened at $156.83 on Friday. The stock has a market cap of $175.51 billion, a P/E ratio of 20.66 and a beta of 1.47. The company has a current ratio of 2.52, a quick ratio of 1.89 and a debt-to-equity ratio of 0.26. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $170.45. The company’s 50 day moving average is $127.44 and its two-hundred day moving average is $107.55.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.34. Micron Technology had a net margin of 22.84% and a return on equity of 17.21%. The business had revenue of $9.30 billion during the quarter, compared to analysts’ expectations of $8.83 billion. During the same quarter in the prior year, the business posted $0.62 EPS. Research analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Shareholders of record on Friday, October 3rd will be issued a dividend of $0.115 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $0.46 annualized dividend and a dividend yield of 0.3%. Micron Technology’s dividend payout ratio (DPR) is presently 8.29%.

Analyst Ratings Changes

Several research firms recently weighed in on MU. Susquehanna lifted their target price on shares of Micron Technology from $160.00 to $200.00 and gave the company a “positive” rating in a report on Wednesday, September 17th. Wall Street Zen cut Micron Technology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 13th. The Goldman Sachs Group increased their target price on Micron Technology from $130.00 to $145.00 and gave the stock a “neutral” rating in a research note on Wednesday. Robert W. Baird raised their target price on Micron Technology from $163.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, June 27th. Finally, Piper Sandler lifted their target price on Micron Technology from $165.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $184.77.

Insider Transactions at Micron Technology

In related news, CFO Mark J. Murphy sold 34,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $109.32, for a total transaction of $3,716,880.00. Following the transaction, the chief financial officer owned 264,036 shares in the company, valued at $28,864,415.52. This trade represents a 11.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Manish H. Bhatia sold 80,000 shares of Micron Technology stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $123.16, for a total value of $9,852,800.00. Following the transaction, the executive vice president directly owned 275,067 shares in the company, valued at approximately $33,877,251.72. This trade represents a 22.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 156,308 shares of company stock worth $19,804,967 over the last three months. 0.30% of the stock is currently owned by company 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.