Congress Wealth Management LLC DE Decreases Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Congress Wealth Management LLC DE lowered its position in Micron Technology, Inc. (NASDAQ:MUGet Rating) by 0.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,182 shares of the semiconductor manufacturer’s stock after selling 174 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Micron Technology were worth $1,336,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Neuberger Berman Group LLC grew its holdings in shares of Micron Technology by 293.5% in the first quarter. Neuberger Berman Group LLC now owns 1,854,494 shares of the semiconductor manufacturer’s stock worth $144,464,000 after purchasing an additional 1,383,268 shares during the last quarter. Dupont Capital Management Corp grew its holdings in shares of Micron Technology by 118.1% in the second quarter. Dupont Capital Management Corp now owns 21,775 shares of the semiconductor manufacturer’s stock worth $1,204,000 after purchasing an additional 11,789 shares during the last quarter. Cetera Advisors LLC grew its holdings in shares of Micron Technology by 9.3% in the first quarter. Cetera Advisors LLC now owns 40,237 shares of the semiconductor manufacturer’s stock worth $3,134,000 after purchasing an additional 3,433 shares during the last quarter. First Hawaiian Bank grew its holdings in shares of Micron Technology by 26.7% in the second quarter. First Hawaiian Bank now owns 7,517 shares of the semiconductor manufacturer’s stock worth $416,000 after purchasing an additional 1,584 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of Micron Technology by 9.5% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 26,879 shares of the semiconductor manufacturer’s stock worth $1,486,000 after purchasing an additional 2,323 shares during the last quarter. Hedge funds and other institutional investors own 79.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MU. Susquehanna dropped their target price on shares of Micron Technology from $68.00 to $60.00 and set a “positive” rating on the stock in a report on Monday, September 26th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Micron Technology from $68.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, September 30th. Evercore ISI dropped their target price on shares of Micron Technology from $85.00 to $70.00 and set an “outperform” rating on the stock in a report on Monday, September 26th. Wedbush dropped their target price on shares of Micron Technology from $85.00 to $65.00 and set an “outperform” rating on the stock in a report on Monday, September 26th. Finally, Needham & Company LLC increased their target price on shares of Micron Technology from $60.00 to $67.00 and gave the stock a “buy” rating in a report on Wednesday, November 16th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat, Micron Technology has an average rating of “Moderate Buy” and a consensus target price of $69.97.

Micron Technology Stock Up 0.5 %

Shares of Micron Technology stock opened at $58.93 on Thursday. The business’s fifty day moving average price is $54.39 and its two-hundred day moving average price is $59.36. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.89 and a quick ratio of 2.01. The company has a market capitalization of $64.07 billion, a P/E ratio of 7.62 and a beta of 1.27. Micron Technology, Inc. has a 1-year low of $48.45 and a 1-year high of $98.45.

Micron Technology (NASDAQ:MUGet Rating) last announced its earnings results on Thursday, September 29th. The semiconductor manufacturer reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.04. Micron Technology had a return on equity of 18.75% and a net margin of 28.24%. The firm had revenue of $6.64 billion for the quarter, compared to the consensus estimate of $6.78 billion. During the same quarter in the previous year, the business earned $2.37 EPS. The firm’s revenue for the quarter was down 19.7% on a year-over-year basis. As a group, research analysts forecast that Micron Technology, Inc. will post -0.39 EPS for the current year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 26th. Shareholders of record on Tuesday, October 11th were issued a $0.115 dividend. The ex-dividend date of this dividend was Friday, October 7th. This represents a $0.46 annualized dividend and a yield of 0.78%. Micron Technology’s dividend payout ratio (DPR) is 5.95%.

Micron Technology Company Profile

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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 comprises DRAM products, which are dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; NAND products that are non-volatile and re-writeable semiconductor storage devices; and NOR memory products, which are non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.

See Also

Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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