Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Cerity Partners LLC

Cerity Partners LLC reduced its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 4.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 89,917 shares of the semiconductor manufacturer's stock after selling 4,598 shares during the quarter. Cerity Partners LLC's holdings in Micron Technology were worth $8,328,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of MU. Beacon Capital Management LLC increased its position in shares of Micron Technology by 114.9% during the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock worth $31,000 after acquiring an additional 200 shares during the period. Midwest Capital Advisors LLC purchased a new position in shares of Micron Technology in the 4th quarter valued at about $33,000. Activest Wealth Management grew its position in shares of Micron Technology by 583.3% during the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer's stock worth $34,000 after buying an additional 350 shares in the last quarter. Comprehensive Financial Planning Inc. PA purchased a new stake in shares of Micron Technology during the fourth quarter worth approximately $34,000. Finally, Curio Wealth LLC acquired a new stake in Micron Technology in the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 80.84% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on MU shares. UBS Group lifted their price target on Micron Technology from $125.00 to $130.00 and gave the stock a "buy" rating in a research report on Monday, March 17th. Barclays raised their price objective on shares of Micron Technology from $110.00 to $115.00 and gave the stock an "overweight" rating in a research report on Friday, March 21st. Robert W. Baird upped their target price on shares of Micron Technology from $130.00 to $163.00 and gave the company an "outperform" rating in a report on Friday, March 21st. Piper Sandler lowered their price target on Micron Technology from $150.00 to $120.00 and set an "overweight" rating on the stock in a report on Thursday, December 19th. Finally, JPMorgan Chase & Co. reduced their price objective on Micron Technology from $145.00 to $135.00 and set an "overweight" rating for the company in a research note on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $129.36.

Micron Technology Price Performance

Shares of Micron Technology stock traded down $1.16 on Wednesday, hitting $69.88. The company's stock had a trading volume of 7,954,263 shares, compared to its average volume of 23,225,506. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The firm has a fifty day moving average price of $89.74 and a 200-day moving average price of $96.57. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $157.54. The company has a market capitalization of $78.10 billion, a P/E ratio of 20.08 and a beta of 1.18.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.13. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $7.93 billion. During the same quarter in the prior year, the firm earned $0.42 earnings per share. The company's revenue for the quarter was up 38.2% compared to the same quarter last year. On average, equities 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 announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.115 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a yield of 0.66%. Micron Technology's dividend payout ratio (DPR) is 11.03%.

Insiders Place Their Bets

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the transaction, the director now owns 27,358 shares of the company's stock, valued at $2,542,378.94. This represents a 8.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP April S. Arnzen sold 15,000 shares of the business's stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the completion of the sale, the executive vice president now owns 164,769 shares of the company's stock, valued at approximately $15,847,482.42. The trade was a 8.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

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.