Great Valley Advisor Group Inc. Cuts Holdings in Micron Technology, Inc. (NASDAQ:MU)

Great Valley Advisor Group Inc. decreased its stake in Micron Technology, Inc. (NASDAQ:MU) by 68.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,290 shares of the semiconductor manufacturer’s stock after selling 26,135 shares during the period. Great Valley Advisor Group Inc.’s holdings in Micron Technology were worth $1,049,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Micron Technology in the third quarter worth about $28,000. OFI Invest Asset Management bought a new stake in Micron Technology during the 3rd quarter worth approximately $27,000. VisionPoint Advisory Group LLC increased its holdings in Micron Technology by 68.3% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock worth $33,000 after acquiring an additional 198 shares during the period. Cape Investment Advisory Inc. increased its holdings in Micron Technology by 51.0% during the 3rd quarter. Cape Investment Advisory Inc. now owns 592 shares of the semiconductor manufacturer’s stock worth $40,000 after acquiring an additional 200 shares during the period. Finally, Clear Street Markets LLC increased its holdings in Micron Technology by 67.5% during the 3rd quarter. Clear Street Markets LLC now owns 623 shares of the semiconductor manufacturer’s stock worth $42,000 after acquiring an additional 251 shares during the period. Institutional investors own 80.84% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Wedbush increased their price target on shares of Micron Technology from $103.00 to $130.00 and gave the company an “outperform” rating in a research report on Thursday, March 21st. Mizuho increased their price target on shares of Micron Technology from $105.00 to $124.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Morgan Stanley increased their price target on shares of Micron Technology from $78.00 to $98.00 and gave the company an “underweight” rating in a research report on Thursday, March 21st. Cantor Fitzgerald increased their price target on shares of Micron Technology from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Finally, JPMorgan Chase & Co. increased their price target on shares of Micron Technology from $105.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat.com, Micron Technology currently has a consensus rating of “Moderate Buy” and an average target price of $122.20.

Micron Technology Stock Performance

Shares of NASDAQ MU opened at $114.70 on Friday. The firm’s 50-day moving average price is $108.38 and its 200-day moving average price is $89.36. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30. Micron Technology, Inc. has a 52-week low of $59.55 and a 52-week high of $130.54.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.69. The company had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The firm’s revenue was up 57.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($2.03) earnings per share. As a group, equities analysts predict that Micron Technology, Inc. will post 0.24 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend was Thursday, March 28th. Micron Technology’s payout ratio is -13.33%.

Insiders Place Their Bets

In other Micron Technology news, EVP Scott J. Deboer sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $110.31, for a total transaction of $4,412,400.00. Following the sale, the executive vice president now owns 158,617 shares in the company, valued at approximately $17,497,041.27. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Sanjay Mehrotra sold 45,000 shares of Micron Technology stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $130.00, for a total transaction of $5,850,000.00. Following the sale, the chief executive officer now owns 728,557 shares in the company, valued at $94,712,410. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Scott J. Deboer sold 40,000 shares of Micron Technology stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $110.31, for a total transaction of $4,412,400.00. Following the sale, the executive vice president now owns 158,617 shares in the company, valued at approximately $17,497,041.27. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 323,890 shares of company stock worth $36,079,267. Company insiders own 0.32% of the company’s stock.

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.