Waddell & Associates LLC Sells 123 Shares of Micron Technology, Inc. (NASDAQ:MU)

Waddell & Associates LLC trimmed its position in Micron Technology, Inc. (NASDAQ:MU) by 5.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,261 shares of the semiconductor manufacturer’s stock after selling 123 shares during the period. Waddell & Associates LLC’s holdings in Micron Technology were worth $297,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Tidemark LLC purchased a new stake in Micron Technology during the 4th quarter worth approximately $25,000. DecisionPoint Financial LLC purchased a new stake in shares of Micron Technology during the first quarter valued at $25,000. Pingora Partners LLC acquired a new position in shares of Micron Technology in the 4th quarter valued at $26,000. Hobbs Group Advisors LLC purchased a new position in Micron Technology in the 2nd quarter worth $28,000. Finally, Frank Rimerman Advisors LLC purchased a new position in Micron Technology in the 4th quarter worth $29,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $135.86, for a total transaction of $664,355.40. Following the transaction, the executive vice president now owns 142,321 shares of the company’s stock, valued at $19,335,731.06. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Micron Technology news, CEO Sanjay Mehrotra sold 34,284 shares of the stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $152.28, for a total transaction of $5,220,767.52. Following the completion of the sale, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at approximately $109,496,781.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $135.86, for a total value of $664,355.40. Following the sale, the executive vice president now owns 142,321 shares of the company’s stock, valued at approximately $19,335,731.06. The disclosure for this sale can be found here. Insiders sold a total of 46,174 shares of company stock valued at $6,827,113 over the last ninety days. Insiders own 0.32% of the company’s stock.

Micron Technology Stock Down 3.4 %

Shares of NASDAQ:MU traded down $3.01 during trading on Friday, hitting $86.38. The company’s stock had a trading volume of 23,388,281 shares, compared to its average volume of 21,325,547. Micron Technology, Inc. has a fifty-two week low of $63.83 and a fifty-two week high of $157.54. The business has a 50 day moving average price of $108.72 and a two-hundred day moving average price of $114.80. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 3.41. The company has a market capitalization of $95.78 billion, a PE ratio of -60.83 and a beta of 1.17.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.14. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The firm had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.67 billion. During the same period in the prior year, the firm earned ($1.57) earnings per share. The business’s quarterly revenue was up 81.5% compared to the same quarter last year. As a group, research analysts expect that Micron Technology, Inc. will post 0.58 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 23rd. Investors of record on Monday, July 8th were given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date was Monday, July 8th. Micron Technology’s dividend payout ratio (DPR) is -32.39%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Needham & Company LLC decreased their price objective on shares of Micron Technology from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, August 26th. Bank of America upped their price target on shares of Micron Technology from $144.00 to $170.00 and gave the company a “buy” rating in a report on Monday, June 17th. Mizuho boosted their price objective on Micron Technology from $150.00 to $155.00 and gave the company a “buy” rating in a report on Friday, May 31st. Robert W. Baird raised their target price on Micron Technology from $150.00 to $172.00 and gave the stock an “outperform” rating in a report on Monday, June 24th. Finally, Citigroup boosted their price target on Micron Technology from $150.00 to $175.00 and gave the company a “buy” rating in a report on Monday, June 24th. Two research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.12.

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.