D.A. Davidson & CO. Sells 130 Shares of Micron Technology, Inc. (NASDAQ:MU)

D.A. Davidson & CO. lowered its holdings in Micron Technology, Inc. (NASDAQ:MU) by 0.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 39,070 shares of the semiconductor manufacturer’s stock after selling 130 shares during the quarter. D.A. Davidson & CO.’s holdings in Micron Technology were worth $3,334,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of MU. Balentine LLC boosted its position in shares of Micron Technology by 11.4% during the 4th quarter. Balentine LLC now owns 14,418 shares of the semiconductor manufacturer’s stock worth $1,230,000 after acquiring an additional 1,476 shares in the last quarter. Coldstream Capital Management Inc. boosted its position in shares of Micron Technology by 4.2% during the 4th quarter. Coldstream Capital Management Inc. now owns 11,702 shares of the semiconductor manufacturer’s stock worth $999,000 after acquiring an additional 476 shares in the last quarter. Gladstone Institutional Advisory LLC acquired a new stake in shares of Micron Technology during the 4th quarter worth approximately $241,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Micron Technology during the 4th quarter worth approximately $5,629,000. Finally, Firetrail Investments PTY Ltd. acquired a new stake in shares of Micron Technology during the 4th quarter worth approximately $8,581,000. Institutional investors own 80.84% of the company’s stock.

Insider Activity

In other news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $94.26, for a total transaction of $659,820.00. Following the completion of the transaction, the chief executive officer now directly owns 788,557 shares in the company, valued at $74,329,382.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Sumit Sadana sold 13,239 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $118.77, for a total transaction of $1,572,396.03. Following the transaction, the executive vice president now directly owns 260,857 shares in the company, valued at $30,981,985.89. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $94.26, for a total transaction of $659,820.00. Following the transaction, the chief executive officer now owns 788,557 shares in the company, valued at $74,329,382.82. The disclosure for this sale can be found here. Insiders sold 417,446 shares of company stock worth $48,198,323 over the last three months. 0.32% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

MU has been the topic of several analyst reports. Robert W. Baird upgraded shares of Micron Technology from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $115.00 to $150.00 in a research report on Monday, May 6th. JPMorgan Chase & Co. raised their target price on shares of Micron Technology from $105.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. Wedbush raised their target price on shares of Micron Technology from $103.00 to $130.00 and gave the company an “outperform” rating in a research report on Thursday, March 21st. Barclays raised their target price on shares of Micron Technology from $120.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. Finally, Citigroup restated a “buy” rating and issued a $150.00 target price on shares of Micron Technology in a research report on Thursday, April 4th. Two analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, Micron Technology currently has a consensus rating of “Moderate Buy” and an average price target of $126.92.

Micron Technology Trading Down 0.0 %

NASDAQ:MU opened at $126.27 on Friday. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $139.83 billion, a price-to-earnings ratio of -36.60 and a beta of 1.27. The firm has a fifty day simple moving average of $117.33 and a two-hundred day simple moving average of $95.13. Micron Technology, Inc. has a 12 month low of $60.50 and a 12 month high of $131.95.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.69. The business had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The business’s quarterly revenue was up 57.7% on a year-over-year basis. During the same period last year, the company posted ($2.03) earnings per share. Analysts expect that Micron Technology, Inc. will post 0.29 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date of this dividend was Thursday, March 28th. Micron Technology’s dividend payout ratio is currently -13.33%.

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.