Micron Technology, Inc. (NASDAQ:MU) Shares Sold by WESPAC Advisors LLC

WESPAC Advisors LLC lowered its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 37.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,223 shares of the semiconductor manufacturer’s stock after selling 1,357 shares during the quarter. WESPAC Advisors LLC’s holdings in Micron Technology were worth $231,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Chartwell Investment Partners LLC increased its stake in shares of Micron Technology by 26.4% during the 3rd quarter. Chartwell Investment Partners LLC now owns 195,115 shares of the semiconductor manufacturer’s stock valued at $20,236,000 after acquiring an additional 40,802 shares during the last quarter. Global X Japan Co. Ltd. increased its position in Micron Technology by 23.1% during the 3rd quarter. Global X Japan Co. Ltd. now owns 51,832 shares of the semiconductor manufacturer’s stock worth $5,375,000 after purchasing an additional 9,735 shares in the last quarter. River Road Asset Management LLC raised its holdings in Micron Technology by 9.1% in the third quarter. River Road Asset Management LLC now owns 163,272 shares of the semiconductor manufacturer’s stock valued at $16,933,000 after buying an additional 13,573 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Micron Technology by 1.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,721,126 shares of the semiconductor manufacturer’s stock valued at $697,048,000 after buying an additional 65,591 shares during the period. Finally, RWQ Financial Management Services Inc. purchased a new position in Micron Technology in the third quarter valued at approximately $1,270,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Performance

Micron Technology stock opened at $102.64 on Friday. The company has a market cap of $113.80 billion, a PE ratio of 150.94 and a beta of 1.18. The company has a fifty day moving average price of $102.46 and a two-hundred day moving average price of $112.18. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. Micron Technology, Inc. has a 12 month low of $72.93 and a 12 month high of $157.54.

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

Micron Technology Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms recently commented on MU. Susquehanna cut their price target on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a report on Thursday, September 26th. KeyCorp cut their price target on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 8th. Wells Fargo & Company cut their price target on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, September 18th. Morgan Stanley raised their price target on shares of Micron Technology from $100.00 to $114.00 and gave the company an “equal weight” rating in a report on Thursday, September 26th. Finally, BNP Paribas lowered shares of Micron Technology from an “outperform” rating to an “underperform” rating and cut their price target for the company from $140.00 to $67.00 in a report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat, Micron Technology currently has a consensus rating of “Moderate Buy” and an average price target of $143.04.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the sale, the executive vice president now directly owns 135,830 shares in the company, valued at approximately $15,348,790. This trade represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.32% of the stock is currently owned by corporate insiders.

Micron Technology Company 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.