Kestra Advisory Services LLC Sells 1,587 Shares of Micron Technology, Inc. (NASDAQ:MU)

Kestra Advisory Services LLC lessened its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 1.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 136,295 shares of the semiconductor manufacturer’s stock after selling 1,587 shares during the quarter. Kestra Advisory Services LLC’s holdings in Micron Technology were worth $16,068,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Tidemark LLC bought a new position in shares of Micron Technology in the fourth quarter valued at approximately $25,000. DecisionPoint Financial LLC acquired a new position in Micron Technology in the first quarter worth $25,000. Pingora Partners LLC bought a new stake in shares of Micron Technology during the fourth quarter worth $26,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Micron Technology in the fourth quarter valued at $29,000. Finally, Valued Wealth Advisors LLC lifted its position in Micron Technology by 230.7% during the 1st quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $29,000 after buying an additional 173 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Manish H. Bhatia sold 53,317 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $119.18, for a total value of $6,354,320.06. Following the sale, the executive vice president now directly owns 319,119 shares of the company’s stock, valued at approximately $38,032,602.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Manish H. Bhatia sold 53,317 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $119.18, for a total value of $6,354,320.06. Following the sale, the executive vice president now owns 319,119 shares in the company, valued at approximately $38,032,602.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $114.87, for a total transaction of $804,090.00. Following the transaction, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at $82,597,158.63. The disclosure for this sale can be found here. In the last 90 days, insiders sold 236,730 shares of company stock valued at $29,435,039. 0.32% of the stock is owned by insiders.

Micron Technology Stock Up 1.8 %

Shares of Micron Technology stock traded up $1.96 during trading on Friday, reaching $109.41. The stock had a trading volume of 18,547,885 shares, compared to its average volume of 22,686,388. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $121.32 billion, a price-to-earnings ratio of -77.05 and a beta of 1.18. The stock has a fifty day moving average price of $131.01 and a two-hundred day moving average price of $112.04. Micron Technology, Inc. has a 52 week low of $61.75 and a 52 week high of $157.54.

Micron Technology (NASDAQ:MU) last released its quarterly 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 return on equity of 4.01% and a negative net margin of 7.20%. The firm had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.67 billion. During the same quarter in the prior year, the firm posted ($1.57) EPS. The business’s revenue was up 81.5% on a year-over-year basis. Sell-side analysts predict 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 issued a dividend of $0.115 per share. The ex-dividend date was Monday, July 8th. This represents a $0.46 annualized dividend and a yield of 0.42%. Micron Technology’s payout ratio is presently -32.39%.

Wall Street Analyst Weigh In

MU has been the subject of a number of research analyst reports. Raymond James boosted their target price on shares of Micron Technology from $130.00 to $160.00 and gave the stock an “outperform” rating in a research note on Friday, June 21st. The Goldman Sachs Group increased their price objective on Micron Technology from $138.00 to $158.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Stifel Nicolaus upped their price target on Micron Technology from $140.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Piper Sandler lifted their price objective on Micron Technology from $130.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Finally, Robert W. Baird upped their target price on shares of Micron Technology from $150.00 to $172.00 and gave the company an “outperform” rating in a research report on Monday, June 24th. Two research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, Micron Technology presently has a consensus rating of “Moderate Buy” and an average target price of $158.72.

Micron Technology 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.