Caprock Group LLC Lowers Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Caprock Group LLC decreased its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 0.6% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 35,653 shares of the semiconductor manufacturer’s stock after selling 205 shares during the quarter. Caprock Group LLC’s holdings in Micron Technology were worth $3,698,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in MU. Atria Investments Inc boosted its position in shares of Micron Technology by 0.3% during the 1st quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock valued at $3,269,000 after acquiring an additional 93 shares during the last quarter. Aspect Partners LLC lifted its holdings in shares of Micron Technology by 39.8% in the 2nd quarter. Aspect Partners LLC now owns 330 shares of the semiconductor manufacturer’s stock worth $43,000 after acquiring an additional 94 shares during the last quarter. Ameritas Advisory Services LLC boosted its stake in shares of Micron Technology by 1.3% during the 2nd quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer’s stock worth $1,003,000 after purchasing an additional 98 shares during the period. LRI Investments LLC grew its holdings in Micron Technology by 57.2% during the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock valued at $36,000 after purchasing an additional 99 shares during the last quarter. Finally, E&G Advisors LP raised its position in Micron Technology by 5.2% in the 2nd quarter. E&G Advisors LP now owns 2,015 shares of the semiconductor manufacturer’s stock worth $265,000 after purchasing an additional 100 shares during the period. Institutional investors own 80.84% of the company’s stock.

Micron Technology Trading Up 0.2 %

NASDAQ MU opened at $97.73 on Wednesday. Micron Technology, Inc. has a 52 week low of $72.93 and a 52 week high of $157.54. The company has a 50 day moving average price of $101.77 and a 200 day moving average price of $112.52. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. The firm has a market cap of $108.36 billion, a PE ratio of 143.72 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last issued 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 business had revenue of $7.75 billion for 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%. The business’s quarterly revenue was up 93.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.21) earnings per share. As a group, sell-side analysts forecast that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.47%. Micron Technology’s dividend payout ratio (DPR) is currently 67.65%.

Insider Activity

In related news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the transaction, the executive vice president now owns 135,830 shares in the company, valued at approximately $15,348,790. This represents a 3.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Raymond James boosted their target price on Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. KeyCorp cut their price objective on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 8th. Morgan Stanley lifted their target price on Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. Cantor Fitzgerald restated an “overweight” rating and issued a $150.00 price target on shares of Micron Technology in a report on Tuesday, October 1st. Finally, Robert W. Baird decreased their price objective on shares of Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a report on Friday, September 27th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $143.04.

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.