Keystone Financial Group Sells 243 Shares of Micron Technology, Inc. (NASDAQ:MU)

Keystone Financial Group trimmed its holdings in Micron Technology, Inc. (NASDAQ:MU) by 6.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,345 shares of the semiconductor manufacturer’s stock after selling 243 shares during the period. Keystone Financial Group’s holdings in Micron Technology were worth $285,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Micron Technology during the 3rd quarter valued at $28,000. VisionPoint Advisory Group LLC raised its stake in 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 purchasing an additional 198 shares during the last quarter. Cape Investment Advisory Inc. raised its stake in Micron Technology by 51.0% during the 3rd quarter. Cape Investment Advisory Inc. now owns 592 shares of the semiconductor manufacturer’s stock valued at $40,000 after purchasing an additional 200 shares during the last quarter. Clear Street Markets LLC raised its stake in Micron Technology by 67.5% during the 3rd quarter. Clear Street Markets LLC now owns 623 shares of the semiconductor manufacturer’s stock valued at $42,000 after purchasing an additional 251 shares during the last quarter. Finally, Operose Advisors LLC bought a new stake in Micron Technology in the 3rd quarter valued at $53,000. 80.84% of the stock is owned by institutional investors.

Insider Activity at Micron Technology

In related news, CEO Sanjay Mehrotra sold 45,000 shares of the firm’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $130.00, for a total value of $5,850,000.00. Following the completion of the transaction, the chief executive officer now directly owns 728,557 shares of the company’s stock, valued at $94,712,410. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Micron Technology news, CEO Sanjay Mehrotra sold 45,000 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $130.00, for a total transaction of $5,850,000.00. Following the completion of the sale, the chief executive officer now owns 728,557 shares of the company’s stock, valued at approximately $94,712,410. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total value of $583,377.00. Following the sale, the executive vice president now directly owns 148,817 shares of the company’s stock, valued at approximately $17,753,868.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 410,446 shares of company stock valued at $47,304,703. 0.32% of the stock is owned by corporate insiders.

Micron Technology Stock Down 0.4 %

MU stock traded down $0.51 during mid-day trading on Wednesday, hitting $126.99. 4,401,538 shares of the company were exchanged, compared to its average volume of 19,467,850. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74. The firm has a market cap of $140.62 billion, a P/E ratio of -36.88 and a beta of 1.27. The firm’s 50 day simple moving average is $115.99 and its 200 day simple moving average is $94.69. Micron Technology, Inc. has a 1-year low of $60.50 and a 1-year high of $131.02.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.69. The company had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The business’s quarterly revenue was up 57.7% on a year-over-year basis. During the same period last year, the business earned ($2.03) EPS. On average, sell-side analysts predict that Micron Technology, Inc. will post 0.24 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were paid a $0.115 dividend. The ex-dividend date was Thursday, March 28th. This represents a $0.46 annualized dividend and a dividend yield of 0.36%. Micron Technology’s dividend payout ratio is presently -13.33%.

Wall Street Analysts Forecast Growth

MU has been the topic of several analyst reports. Fox Advisors raised shares of Micron Technology from an “equal weight” rating to an “overweight” rating in a report on Thursday, March 21st. Piper Sandler boosted their price target on shares of Micron Technology from $95.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. TD Cowen boosted their price target on shares of Micron Technology from $120.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, March 21st. JPMorgan Chase & Co. upped their target price 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. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $140.00 target price on shares of Micron Technology in a report on Friday, April 12th. Two analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $126.92.

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.