Sanctuary Advisors LLC Sells 7,541 Shares of Micron Technology, Inc. (NASDAQ:MU)

Sanctuary Advisors LLC lessened its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 14.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 45,031 shares of the semiconductor manufacturer's stock after selling 7,541 shares during the quarter. Sanctuary Advisors LLC's holdings in Micron Technology were worth $4,165,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in MU. Highline Wealth Partners LLC bought a new position in Micron Technology during the 3rd quarter worth about $26,000. Stone House Investment Management LLC increased its holdings in Micron Technology by 602.2% during the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer's stock worth $34,000 after purchasing an additional 277 shares in the last quarter. True Wealth Design LLC grew its holdings in shares of Micron Technology by 1,096.3% in the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer's stock valued at $33,000 after acquiring an additional 296 shares in the last quarter. DT Investment Partners LLC grew its holdings in shares of Micron Technology by 261.1% in the 3rd 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 in the last quarter. Finally, Beacon Capital Management LLC grew its holdings in shares of Micron Technology by 114.9% in the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock valued at $31,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on MU shares. Sanford C. Bernstein decreased their price objective on Micron Technology from $140.00 to $120.00 and set an "outperform" rating for the company in a report on Wednesday, December 18th. UBS Group decreased their price objective on Micron Technology from $135.00 to $125.00 and set a "buy" rating for the company in a report on Thursday, December 19th. Stifel Nicolaus decreased their price objective on Micron Technology from $135.00 to $130.00 and set a "buy" rating for the company in a report on Thursday, December 19th. Robert W. Baird decreased their price objective on Micron Technology from $150.00 to $130.00 and set an "outperform" rating for the company in a report on Thursday, December 19th. Finally, Mizuho decreased their price objective on Micron Technology from $135.00 to $115.00 and set an "outperform" rating for the company in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $134.96.

Micron Technology Stock Performance

MU stock traded down $4.40 during mid-day trading on Friday, hitting $98.78. 18,633,227 shares of the company were exchanged, compared to its average volume of 22,918,740. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 1-year low of $83.54 and a 1-year high of $157.54. The business has a 50 day simple moving average of $96.35 and a 200-day simple moving average of $98.70. The stock has a market capitalization of $110.06 billion, a PE ratio of 28.47 and a beta of 1.18.

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

Micron Technology Announces Dividend

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

Insider Activity

In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the transaction, the executive vice president now directly owns 181,223 shares of the company's stock, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.30% of the stock is owned by company 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.