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

Kingsview Wealth Management LLC lowered its holdings in Micron Technology, Inc. (NASDAQ:MU) by 3.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,655 shares of the semiconductor manufacturer’s stock after selling 136 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Micron Technology were worth $312,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of MU. Northern Trust Corp raised its position in Micron Technology by 0.7% in the third quarter. Northern Trust Corp now owns 10,833,670 shares of the semiconductor manufacturer’s stock valued at $737,015,000 after purchasing an additional 80,345 shares during the period. L2 Asset Management LLC raised its holdings in shares of Micron Technology by 492.3% in the 3rd quarter. L2 Asset Management LLC now owns 26,444 shares of the semiconductor manufacturer’s stock valued at $1,799,000 after buying an additional 21,979 shares during the period. Invesco Ltd. lifted its stake in Micron Technology by 11.8% during the 3rd quarter. Invesco Ltd. now owns 8,807,926 shares of the semiconductor manufacturer’s stock worth $599,203,000 after acquiring an additional 927,302 shares in the last quarter. Merlin Capital Inc purchased a new position in Micron Technology during the 3rd quarter valued at about $407,000. Finally, Savoie Capital LLC acquired a new position in Micron Technology in the 3rd quarter valued at about $4,229,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Micron Technology

In other news, EVP Sumit Sadana sold 13,239 shares of Micron Technology stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $118.77, for a total value of $1,572,396.03. Following the sale, the executive vice president now owns 260,857 shares of the company’s stock, valued at $30,981,985.89. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $91.54, for a total transaction of $640,780.00. Following the sale, the chief executive officer now directly owns 788,557 shares in the company, valued at approximately $72,184,507.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sumit Sadana sold 13,239 shares of the 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 completion of the transaction, the executive vice president now owns 260,857 shares of the company’s stock, valued at approximately $30,981,985.89. The disclosure for this sale can be found here. Insiders sold 410,446 shares of company stock worth $47,304,703 over the last 90 days. 0.32% of the stock is currently owned by insiders.

Micron Technology Stock Down 1.0 %

MU stock opened at $126.28 on Thursday. The company has a market cap of $139.84 billion, a price-to-earnings ratio of -36.60 and a beta of 1.27. The company has a fifty day moving average price of $116.63 and a 200 day moving average price of $94.91. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. Micron Technology, Inc. has a 12 month low of $60.50 and a 12 month high of $131.02.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, beating 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 revenue was up 57.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($2.03) earnings per share. Sell-side analysts expect that Micron Technology, Inc. will post 0.24 earnings per share for the current year.

Micron Technology Announces Dividend

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

Analysts Set New Price Targets

Several research firms have recently commented on MU. Wedbush raised their price objective on shares of Micron Technology from $103.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, March 21st. Robert W. Baird upgraded shares of Micron Technology from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $115.00 to $150.00 in a research note on Monday, May 6th. StockNews.com upgraded Micron Technology from a “sell” rating to a “hold” rating in a research note on Friday, March 22nd. Morgan Stanley raised Micron Technology from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $98.00 to $130.00 in a research note on Monday. Finally, Bank of America upped their price target on Micron Technology from $120.00 to $144.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Two equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $126.92.

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.