Micron Technology, Inc. (NASDAQ:MU) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. trimmed its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 16.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,522 shares of the semiconductor manufacturer’s stock after selling 4,602 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Micron Technology were worth $2,417,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Highline Wealth Partners LLC acquired a new stake in Micron Technology in the third quarter valued at approximately $26,000. Hobbs Group Advisors LLC purchased a new position in shares of Micron Technology in the second quarter valued at approximately $28,000. Davis Capital Management purchased a new position in shares of Micron Technology in the third quarter valued at approximately $30,000. True Wealth Design LLC lifted its position in shares of Micron Technology by 1,096.3% in the third 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. Finally, Richard W. Paul & Associates LLC lifted its position in shares of Micron Technology by 128.6% in the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 144 shares in the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Stock Up 4.3 %

Shares of NASDAQ MU opened at $102.50 on Monday. The company has a market capitalization of $114.19 billion, a price-to-earnings ratio of 150.74 and a beta of 1.16. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. The business has a 50-day moving average of $103.58 and a two-hundred day moving average of $109.37. Micron Technology, Inc. has a 1 year low of $78.63 and a 1 year high of $157.54.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. The company had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. Micron Technology’s revenue for the quarter was up 93.3% on a year-over-year basis. During the same period in the previous year, the business earned ($1.21) EPS. On average, analysts forecast that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend was Monday, October 7th. Micron Technology’s payout ratio is currently 67.65%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Citigroup decreased their target price on Micron Technology from $175.00 to $150.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Needham & Company LLC reiterated a “buy” rating and set a $140.00 price objective on shares of Micron Technology in a research report on Thursday, September 26th. China Renaissance initiated coverage on Micron Technology in a research note on Monday, October 28th. They set a “buy” rating and a $148.00 target price for the company. Wedbush reissued an “outperform” rating and set a $140.00 target price on shares of Micron Technology in a research note on Thursday, September 26th. Finally, Rosenblatt Securities lifted their price objective on Micron Technology from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $143.04.

Insider Activity

In other news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the sale, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. The trade was a 3.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company 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.