Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Fortitude Advisory Group L.L.C.

Fortitude Advisory Group L.L.C. trimmed its position in Micron Technology, Inc. (NASDAQ:MU) by 29.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 2,949 shares of the semiconductor manufacturer’s stock after selling 1,250 shares during the quarter. Fortitude Advisory Group L.L.C.’s holdings in Micron Technology were worth $252,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. OFI Invest Asset Management purchased a new position in shares of Micron Technology in the third quarter worth $27,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Micron Technology in the third quarter worth $28,000. VisionPoint Advisory Group LLC raised its holdings in shares of Micron Technology by 68.3% in the third quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock worth $33,000 after buying an additional 198 shares during the last quarter. Cape Investment Advisory Inc. raised its holdings 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 buying an additional 200 shares during the last quarter. Finally, Clear Street Markets LLC raised its holdings in shares of Micron Technology by 67.5% in the third quarter. Clear Street Markets LLC now owns 623 shares of the semiconductor manufacturer’s stock worth $42,000 after buying an additional 251 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Trading Up 0.9 %

Shares of NASDAQ MU traded up $0.95 during trading on Thursday, hitting $110.65. The company had a trading volume of 4,741,216 shares, compared to its average volume of 20,187,166. Micron Technology, Inc. has a fifty-two week low of $59.55 and a fifty-two week high of $130.54. The stock has a fifty day simple moving average of $107.85 and a two-hundred day simple moving average of $89.19. 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 posted its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.69. The firm had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. Micron Technology’s quarterly revenue was up 57.7% on a year-over-year basis. During the same period in the previous year, the business posted ($2.03) earnings per share. Analysts predict that Micron Technology, Inc. will post 0.24 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were given a dividend of $0.115 per share. The ex-dividend date was Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a yield of 0.42%. Micron Technology’s payout ratio is presently -13.33%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price target 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. Stifel Nicolaus reissued a “buy” rating and set a $140.00 target price on shares of Micron Technology in a report on Friday, April 12th. Fox Advisors raised shares of Micron Technology from an “equal weight” rating to an “overweight” rating in a report on Thursday, March 21st. Robert W. Baird raised their target price on shares of Micron Technology from $78.00 to $115.00 and gave the stock a “neutral” rating in a report on Tuesday, March 19th. Finally, StockNews.com raised shares of Micron Technology from a “sell” rating to a “hold” rating in a report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have issued 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 $122.20.

Insider Buying and Selling

In related news, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $111.93, for a total transaction of $783,510.00. Following the transaction, the chief executive officer now directly owns 719,049 shares in the company, valued at $80,483,154.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $111.93, for a total value of $783,510.00. Following the transaction, the chief executive officer now directly owns 719,049 shares in the company, valued at approximately $80,483,154.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total transaction of $583,377.00. Following the completion of the transaction, the executive vice president now owns 148,817 shares in the company, valued at $17,753,868.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 261,890 shares of company stock worth $29,129,527. 0.32% of the stock is owned by insiders.

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.