Moss Adams Wealth Advisors LLC Sells 399 Shares of Micron Technology, Inc. (NASDAQ:MU)

Moss Adams Wealth Advisors LLC decreased its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 15.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,163 shares of the semiconductor manufacturer’s stock after selling 399 shares during the quarter. Moss Adams Wealth Advisors LLC’s holdings in Micron Technology were worth $224,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of MU. Clearbridge Investments LLC raised its holdings in Micron Technology by 1.1% in the first quarter. Clearbridge Investments LLC now owns 1,931,811 shares of the semiconductor manufacturer’s stock worth $227,741,000 after purchasing an additional 20,741 shares during the period. Chapin Davis Inc. acquired a new stake in Micron Technology during the 2nd quarter worth $4,056,000. Handelsbanken Fonder AB lifted its holdings in Micron Technology by 2.4% during the third quarter. Handelsbanken Fonder AB now owns 434,596 shares of the semiconductor manufacturer’s stock worth $45,072,000 after acquiring an additional 9,992 shares in the last quarter. Norden Group LLC grew its stake in Micron Technology by 1,916.7% in the first quarter. Norden Group LLC now owns 50,134 shares of the semiconductor manufacturer’s stock valued at $5,910,000 after acquiring an additional 47,648 shares during the period. Finally, Westwood Holdings Group Inc. bought a new stake in shares of Micron Technology in the first quarter worth about $8,558,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Morgan Stanley boosted their price objective on Micron Technology from $100.00 to $114.00 and gave the company an “equal weight” rating in a research report on Thursday, September 26th. Needham & Company LLC reiterated a “buy” rating and issued a $140.00 price target on shares of Micron Technology in a report on Thursday, September 26th. Robert W. Baird dropped their price objective on shares of Micron Technology from $172.00 to $150.00 and set an “outperform” rating on the stock in a report on Friday, September 27th. The Goldman Sachs Group upped their target price on shares of Micron Technology from $138.00 to $158.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Finally, Raymond James lifted their price target on Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $142.85.

Insider Activity at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the transaction, the executive vice president now owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.32% of the stock is owned by insiders.

Micron Technology Stock Performance

Shares of NASDAQ MU opened at $111.15 on Friday. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $123.25 billion, a P/E ratio of -78.27 and a beta of 1.18. Micron Technology, Inc. has a 12 month low of $63.88 and a 12 month high of $157.54. The stock has a 50 day moving average of $98.64 and a 200-day moving average of $114.48.

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

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Monday, October 7th will be given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date is Monday, October 7th. Micron Technology’s payout ratio is currently -32.39%.

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.