Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Farther Finance Advisors LLC

Farther Finance Advisors LLC reduced its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 57.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,423 shares of the semiconductor manufacturer's stock after selling 8,788 shares during the period. Farther Finance Advisors LLC's holdings in Micron Technology were worth $666,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in MU. Highline Wealth Partners LLC purchased a new stake in Micron Technology during the third quarter valued at approximately $26,000. Hobbs Group Advisors LLC purchased a new stake in Micron Technology during the 2nd quarter valued at $28,000. Davis Capital Management bought a new stake in Micron Technology in the third quarter worth $30,000. Richard W. Paul & Associates LLC boosted its stake in Micron Technology by 128.6% during the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer's stock worth $34,000 after buying an additional 144 shares during the period. Finally, DT Investment Partners LLC increased its position in Micron Technology by 261.1% during the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer's stock valued at $34,000 after acquiring an additional 235 shares during the last quarter. Institutional investors own 80.84% of the company's stock.

Analyst Upgrades and Downgrades

MU has been the subject of a number of recent analyst reports. Morgan Stanley lifted their price target on shares of Micron Technology from $100.00 to $114.00 and gave the stock an "equal weight" rating in a research note on Thursday, September 26th. China Renaissance initiated coverage on Micron Technology in a research report on Monday, October 28th. They issued a "buy" rating and a $148.00 price objective on the stock. Bank of America lifted their target price on Micron Technology from $110.00 to $125.00 and gave the stock a "buy" rating in a research report on Thursday, September 26th. Needham & Company LLC restated a "buy" rating and issued a $140.00 price target on shares of Micron Technology in a report on Thursday, September 26th. Finally, Robert W. Baird decreased their price objective on shares of Micron Technology from $172.00 to $150.00 and set an "outperform" rating for the company in a report on Friday, September 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have assigned a buy rating to the company. Based on data from MarketBeat.com, Micron Technology has an average rating of "Moderate Buy" and an average price target of $143.04.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the firm's stock in a transaction dated 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 directly owns 135,830 shares of the company's stock, valued at $15,348,790. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.32% of the stock is currently owned by insiders.

Micron Technology Stock Performance

MU stock traded up $6.34 during midday trading on Wednesday, reaching $111.83. The stock had a trading volume of 20,267,437 shares, compared to its average volume of 21,833,826. The firm has a fifty day simple moving average of $99.49 and a two-hundred day simple moving average of $113.09. Micron Technology, Inc. has a 52-week low of $71.71 and a 52-week high of $157.54. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. The stock has a market cap of $123.99 billion, a PE ratio of 164.46 and a beta of 1.18.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.21. The firm had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The company's revenue for the quarter was up 93.3% compared to the same quarter last year. During the same period last year, the business posted ($1.21) earnings per share. As a group, equities research analysts anticipate that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were issued a dividend of $0.115 per share. The ex-dividend date was Monday, October 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.41%. Micron Technology's dividend payout ratio (DPR) is presently 67.65%.

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.