Axxcess Wealth Management LLC Sells 1,248 Shares of Micron Technology, Inc. (NASDAQ:MU)

Axxcess Wealth Management LLC cut its holdings in Micron Technology, Inc. (NASDAQ:MU) by 14.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 7,519 shares of the semiconductor manufacturer’s stock after selling 1,248 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Micron Technology were worth $633,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Tocqueville Asset Management L.P. boosted its stake in Micron Technology by 87.1% in the 4th quarter. Tocqueville Asset Management L.P. now owns 118,054 shares of the semiconductor manufacturer’s stock worth $9,935,000 after purchasing an additional 54,949 shares during the period. Curio Wealth LLC acquired a new position in shares of Micron Technology during the fourth quarter worth about $34,000. Signaturefd LLC grew its holdings in shares of Micron Technology by 3.6% during the fourth quarter. Signaturefd LLC now owns 22,357 shares of the semiconductor manufacturer’s stock worth $1,882,000 after buying an additional 778 shares in the last quarter. Parallel Advisors LLC raised its position in Micron Technology by 3.8% in the 4th quarter. Parallel Advisors LLC now owns 17,793 shares of the semiconductor manufacturer’s stock valued at $1,498,000 after buying an additional 647 shares during the last quarter. Finally, Cibc World Markets Corp lifted its stake in Micron Technology by 14.2% in the 4th quarter. Cibc World Markets Corp now owns 199,629 shares of the semiconductor manufacturer’s stock valued at $16,801,000 after acquiring an additional 24,786 shares in the last quarter. 80.84% of the stock is owned by institutional investors.

Micron Technology Trading Down 8.0 %

Shares of MU stock opened at $94.72 on Friday. Micron Technology, Inc. has a 12-month low of $83.54 and a 12-month high of $157.54. The firm has a 50 day moving average price of $96.82 and a two-hundred day moving average price of $98.21. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $105.53 billion, a PE ratio of 27.30 and a beta of 1.23.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business had revenue of $8.05 billion during the quarter, compared to analysts’ expectations of $7.93 billion. During the same period last year, the firm posted $0.42 EPS. The firm’s revenue for the quarter was up 38.2% compared to the same quarter last year. As a group, analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.49%. The ex-dividend date is Monday, March 31st. Micron Technology’s dividend payout ratio (DPR) is 13.26%.

Insider Buying and Selling at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the sale, the director now directly owns 27,358 shares in the company, valued at approximately $2,542,378.94. This represents a 8.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on MU shares. Wedbush reaffirmed an “outperform” rating and set a $125.00 price target on shares of Micron Technology in a research note on Monday, March 17th. Morgan Stanley lifted their price target on shares of Micron Technology from $91.00 to $112.00 and gave the company an “equal weight” rating in a research note on Friday. Bank of America downgraded shares of Micron Technology from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $125.00 to $110.00 in a research note on Thursday, December 19th. UBS Group raised their price objective on Micron Technology from $125.00 to $130.00 and gave the company a “buy” rating in a report on Monday, March 17th. Finally, Stifel Nicolaus dropped their target price on Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $132.63.

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.