Hartford Investment Management Co. Sells 1,170 Shares of Micron Technology, Inc. (NASDAQ:MU)

Hartford Investment Management Co. trimmed its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 1.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 69,780 shares of the semiconductor manufacturer’s stock after selling 1,170 shares during the quarter. Hartford Investment Management Co.’s holdings in Micron Technology were worth $7,237,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Hobbs Group Advisors LLC purchased a new position in shares of Micron Technology during the 2nd quarter valued at about $28,000. DecisionPoint Financial LLC purchased a new stake in shares of Micron Technology in the first quarter worth $25,000. Valued Wealth Advisors LLC raised its position in shares of Micron Technology by 230.7% during the 1st quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock valued at $29,000 after purchasing an additional 173 shares during the period. Richard W. Paul & Associates LLC lifted its stake in shares of Micron Technology by 128.6% during the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 144 shares in the last quarter. Finally, LRI Investments LLC increased its stake in Micron Technology by 57.2% in the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after buying an additional 99 shares in the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total transaction of $552,570.00. Following the sale, the executive vice president now owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on MU shares. Stifel Nicolaus lowered their target price on shares of Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, September 19th. Wedbush reissued an “outperform” rating and set a $140.00 price objective on shares of Micron Technology in a report on Thursday, September 26th. TD Cowen boosted their target price on Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Citigroup cut their price target on Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Finally, Piper Sandler upped their price objective on Micron Technology from $130.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $142.85.

Micron Technology Trading Down 1.4 %

Shares of NASDAQ:MU traded down $1.46 during trading on Wednesday, reaching $106.36. 1,268,262 shares of the company were exchanged, compared to its average volume of 22,104,795. The business’s fifty day simple moving average is $99.14 and its 200-day simple moving average is $114.17. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. Micron Technology, Inc. has a 12-month low of $63.88 and a 12-month high of $157.54. The firm has a market capitalization of $117.94 billion, a PE ratio of -75.93 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping the consensus estimate of $0.97 by $0.21. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.65 billion. During the same period last year, the business posted ($1.21) EPS. Micron Technology’s quarterly revenue was up 93.3% on a year-over-year basis. On average, research analysts anticipate that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th will be issued a $0.115 dividend. The ex-dividend date of this dividend is Monday, October 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.43%. Micron Technology’s dividend payout ratio is currently -32.39%.

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.