Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Mosaic Family Wealth Partners LLC

Mosaic Family Wealth Partners LLC lowered its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 6.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,029 shares of the semiconductor manufacturer’s stock after selling 850 shares during the quarter. Mosaic Family Wealth Partners LLC’s holdings in Micron Technology were worth $1,418,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Norges Bank acquired a new position in Micron Technology in the 4th quarter worth approximately $769,372,000. Price T Rowe Associates Inc. MD increased its holdings in Micron Technology by 22.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock worth $2,150,743,000 after buying an additional 3,315,988 shares during the period. California Public Employees Retirement System increased its holdings in Micron Technology by 125.0% in the 4th quarter. California Public Employees Retirement System now owns 4,541,662 shares of the semiconductor manufacturer’s stock worth $387,585,000 after buying an additional 2,523,267 shares during the period. Capital International Investors increased its holdings in Micron Technology by 15.1% in the 1st quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock worth $2,157,800,000 after buying an additional 2,397,885 shares during the period. Finally, 1832 Asset Management L.P. increased its holdings in Micron Technology by 301,500.0% in the 1st quarter. 1832 Asset Management L.P. now owns 1,809,600 shares of the semiconductor manufacturer’s stock worth $213,334,000 after buying an additional 1,809,000 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Down 8.7 %

Shares of MU traded down $8.81 during midday trading on Friday, hitting $92.70. The company had a trading volume of 36,039,440 shares, compared to its average volume of 23,484,150. The company’s 50-day simple moving average is $128.53 and its 200-day simple moving average is $112.73. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 3.41. The firm has a market capitalization of $102.79 billion, a P/E ratio of -65.28 and a beta of 1.18. Micron Technology, Inc. has a 1 year low of $61.75 and a 1 year high of $157.54.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.14. The business had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $6.67 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The business’s quarterly revenue was up 81.5% compared to the same quarter last year. During the same quarter last year, the business posted ($1.57) EPS. As a group, sell-side analysts expect that Micron Technology, Inc. will post 0.58 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Monday, July 8th. Micron Technology’s payout ratio is presently -32.39%.

Insider Activity

In related news, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $120.32, for a total transaction of $842,240.00. Following the completion of the sale, the chief executive officer now owns 719,049 shares in the company, valued at $86,515,975.68. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $120.32, for a total transaction of $842,240.00. Following the completion of the sale, the chief executive officer now owns 719,049 shares in the company, valued at $86,515,975.68. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $135.86, for a total value of $664,355.40. Following the sale, the executive vice president now owns 142,321 shares of the company’s stock, valued at approximately $19,335,731.06. The disclosure for this sale can be found here. In the last quarter, insiders sold 174,730 shares of company stock worth $22,485,299. 0.32% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on MU shares. JPMorgan Chase & Co. increased their price target on shares of Micron Technology from $130.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Cantor Fitzgerald raised their price objective on shares of Micron Technology from $150.00 to $180.00 and gave the stock an “overweight” rating in a research note on Monday, June 17th. TD Cowen raised their price objective on shares of Micron Technology from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. UBS Group dropped their price objective on shares of Micron Technology from $155.00 to $153.00 and set a “buy” rating on the stock in a research note on Thursday, June 27th. Finally, Mizuho raised their price objective on shares of Micron Technology from $150.00 to $155.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Two investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Micron Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.72.

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.