Pinnacle Wealth Management Advisory Group LLC Lowers Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Pinnacle Wealth Management Advisory Group LLC lowered its stake in Micron Technology, Inc. (NASDAQ:MU) by 32.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,959 shares of the semiconductor manufacturer’s stock after selling 1,452 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in Micron Technology were worth $253,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of MU. OFI Invest Asset Management acquired a new position in Micron Technology in the 3rd quarter valued at $27,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Micron Technology in the 3rd quarter worth about $28,000. VisionPoint Advisory Group LLC increased its stake in shares of Micron Technology by 68.3% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock valued at $33,000 after acquiring an additional 198 shares during the last quarter. Cape Investment Advisory Inc. boosted its position in shares of Micron Technology by 51.0% in the third 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 last quarter. Finally, Clear Street Markets LLC increased its position in Micron Technology by 67.5% during the third quarter. Clear Street Markets LLC now owns 623 shares of the semiconductor manufacturer’s stock worth $42,000 after purchasing an additional 251 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MU. Bank of America raised their target price on Micron Technology from $120.00 to $144.00 and gave the company a “buy” rating in a report on Monday, April 1st. Rosenblatt Securities reiterated a “buy” rating and issued a $140.00 price target on shares of Micron Technology in a report on Monday, March 18th. JPMorgan Chase & Co. lifted their price objective on shares of Micron Technology from $105.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. UBS Group upped their target price on Micron Technology from $95.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Finally, Robert W. Baird raised shares of Micron Technology from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $115.00 to $150.00 in a research note on Monday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $123.60.

Insider Activity at Micron Technology

In related news, EVP Manish H. Bhatia sold 53,317 shares of the firm’s stock in a transaction that occurred on 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 $38,032,602.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Micron Technology news, EVP Manish H. Bhatia sold 53,317 shares of Micron Technology stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $119.18, for a total transaction of $6,354,320.06. Following the transaction, the executive vice president now directly owns 319,119 shares of the company’s stock, valued at $38,032,602.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $82.03, for a total value of $574,210.00. Following the transaction, the chief executive officer now owns 788,557 shares in the company, valued at $64,685,330.71. The disclosure for this sale can be found here. Over the last quarter, insiders sold 370,207 shares of company stock valued at $41,839,707. Company insiders own 0.32% of the company’s stock.

Micron Technology Trading Down 0.8 %

NASDAQ MU traded down $0.90 on Thursday, hitting $118.42. The company’s stock had a trading volume of 5,937,729 shares, compared to its average volume of 19,934,902. The company’s 50-day moving average is $110.11 and its 200 day moving average is $90.70. Micron Technology, Inc. has a 1-year low of $59.79 and a 1-year high of $130.54. The firm has a market cap of $130.74 billion, a PE ratio of -34.46 and a beta of 1.27. 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 (NASDAQ:MU) last released its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, topping the consensus estimate of ($0.27) by $0.69. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The company had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.35 billion. During the same period last year, the firm earned ($2.03) EPS. Micron Technology’s revenue for the quarter was up 57.7% on a year-over-year basis. As a group, analysts predict that Micron Technology, Inc. will post 0.24 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were given a $0.115 dividend. The ex-dividend date was Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.39%. Micron Technology’s dividend payout ratio (DPR) is presently -13.33%.

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.