U.S. Capital Wealth Advisors LLC Sells 2,286 Shares of Micron Technology, Inc. (NASDAQ:MU)

U.S. Capital Wealth Advisors LLC reduced its stake in Micron Technology, Inc. (NASDAQ:MU) by 21.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,392 shares of the semiconductor manufacturer’s stock after selling 2,286 shares during the period. U.S. Capital Wealth Advisors LLC’s holdings in Micron Technology were worth $1,104,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in MU. Allworth Financial LP lifted its holdings in Micron Technology by 3.0% during the fourth quarter. Allworth Financial LP now owns 5,125 shares of the semiconductor manufacturer’s stock worth $437,000 after acquiring an additional 150 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Micron Technology by 15.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 255,840 shares of the semiconductor manufacturer’s stock worth $21,833,000 after acquiring an additional 33,493 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in Micron Technology during the fourth quarter worth about $81,000. Sequoia Financial Advisors LLC lifted its holdings in Micron Technology by 81.3% during the fourth quarter. Sequoia Financial Advisors LLC now owns 43,753 shares of the semiconductor manufacturer’s stock worth $3,734,000 after acquiring an additional 19,621 shares in the last quarter. Finally, Sandy Spring Bank lifted its holdings in Micron Technology by 11.1% during the fourth quarter. Sandy Spring Bank now owns 1,305 shares of the semiconductor manufacturer’s stock worth $111,000 after acquiring an additional 130 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Price Performance

Shares of MU stock traded up $1.01 during trading on Friday, hitting $93.08. The company had a trading volume of 21,627,209 shares, compared to its average volume of 21,416,703. 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 firm has a market capitalization of $103.21 billion, a P/E ratio of -65.55 and a beta of 1.18. The stock’s 50-day moving average price is $124.66 and its 200 day moving average price is $112.69. Micron Technology, Inc. has a one year low of $61.75 and a one year high of $157.54.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, beating the consensus estimate 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 business had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.67 billion. During the same period in the previous year, the business earned ($1.57) earnings per share. The company’s revenue was up 81.5% on a year-over-year basis. Equities analysts expect that Micron Technology, Inc. will post 0.58 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th were issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, July 8th. This represents a $0.46 annualized dividend and a dividend yield of 0.49%. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

Wall Street Analyst Weigh In

Several analysts have issued reports on MU shares. Robert W. Baird lifted their price target on Micron Technology from $150.00 to $172.00 and gave the company an “outperform” rating in a research note on Monday, June 24th. Wedbush reissued an “outperform” rating and issued a $170.00 price target on shares of Micron Technology in a research note on Thursday, June 27th. Morgan Stanley lifted their price target on Micron Technology from $130.00 to $140.00 and gave the company an “equal weight” rating in a research note on Monday, June 24th. Barclays lifted their price target on Micron Technology from $120.00 to $145.00 and gave the company an “overweight” rating in a research note on Monday, May 13th. Finally, Mizuho lifted their target price on Micron Technology from $150.00 to $155.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Two investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $157.92.

Insider Transactions at Micron Technology

In other news, EVP Sumit Sadana sold 12,000 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $123.01, for a total transaction of $1,476,120.00. Following the completion of the transaction, the executive vice president now directly owns 218,048 shares in the company, valued at $26,822,084.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction 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 completion of the sale, the executive vice president now directly owns 142,321 shares in the company, valued at $19,335,731.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sumit Sadana sold 12,000 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $123.01, for a total value of $1,476,120.00. Following the completion of the sale, the executive vice president now owns 218,048 shares of the company’s stock, valued at $26,822,084.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 101,174 shares of company stock worth $13,716,343. Corporate insiders own 0.32% 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.