Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Jessup Wealth Management Inc

Jessup Wealth Management Inc lessened its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 67.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,950 shares of the semiconductor manufacturer's stock after selling 40,945 shares during the quarter. Micron Technology makes up 0.7% of Jessup Wealth Management Inc's investment portfolio, making the stock its 26th largest holding. Jessup Wealth Management Inc's holdings in Micron Technology were worth $1,679,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of MU. Swedbank AB grew its stake in Micron Technology by 30.4% during the 3rd quarter. Swedbank AB now owns 3,455,819 shares of the semiconductor manufacturer's stock worth $358,403,000 after purchasing an additional 806,639 shares in the last quarter. OLD National Bancorp IN grew its stake in Micron Technology by 26.7% during the 3rd quarter. OLD National Bancorp IN now owns 4,721 shares of the semiconductor manufacturer's stock worth $490,000 after purchasing an additional 995 shares in the last quarter. Whittier Trust Co. grew its stake in Micron Technology by 22.4% during the 3rd quarter. Whittier Trust Co. now owns 1,481 shares of the semiconductor manufacturer's stock worth $154,000 after purchasing an additional 271 shares in the last quarter. Raleigh Capital Management Inc. grew its stake in Micron Technology by 107.8% during the 3rd quarter. Raleigh Capital Management Inc. now owns 1,168 shares of the semiconductor manufacturer's stock worth $121,000 after purchasing an additional 606 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its stake in Micron Technology by 2.7% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 35,999 shares of the semiconductor manufacturer's stock worth $3,734,000 after purchasing an additional 960 shares in the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MU has been the subject of several analyst reports. Robert W. Baird lowered their price objective on Micron Technology from $150.00 to $130.00 and set an "outperform" rating for the company in a research report on Thursday, December 19th. Rosenblatt Securities reaffirmed a "buy" rating and set a $250.00 price objective on shares of Micron Technology in a research report on Wednesday, December 18th. Sanford C. Bernstein lowered their price objective on Micron Technology from $140.00 to $120.00 and set an "outperform" rating for the company in a research report on Wednesday, December 18th. Wells Fargo & Company decreased their target price on Micron Technology from $175.00 to $140.00 and set an "overweight" rating for the company in a research report on Thursday, December 19th. Finally, Morgan Stanley decreased their target price on Micron Technology from $98.00 to $91.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $134.96.

Micron Technology Stock Performance

Shares of MU stock traded down $4.37 during trading hours on Friday, reaching $98.81. 12,116,568 shares of the company's stock were exchanged, compared to its average volume of 22,704,137. The company has a market cap of $110.09 billion, a P/E ratio of 28.44 and a beta of 1.18. The company's 50 day moving average is $96.35 and its two-hundred day moving average is $98.70. Micron Technology, Inc. has a 1 year low of $83.54 and a 1 year high of $157.54. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.60 by $0.19. The business had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company's revenue for the quarter was up 84.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.95) EPS. Equities research analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Monday, December 30th. Micron Technology's dividend payout ratio is currently 13.26%.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the sale, the executive vice president now owns 181,223 shares in the company, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.30% of the company's stock.

About Micron Technology

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.