Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Sigma Planning Corp

Sigma Planning Corp lowered its stake in Micron Technology, Inc. (NASDAQ:MU) by 71.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,367 shares of the semiconductor manufacturer’s stock after selling 11,090 shares during the period. Sigma Planning Corp’s holdings in Micron Technology were worth $373,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Micron Technology in the 3rd quarter valued at approximately $28,000. OFI Invest Asset Management purchased a new position in shares of Micron Technology during the 3rd quarter worth $27,000. VisionPoint Advisory Group LLC lifted 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 worth $33,000 after purchasing an additional 198 shares during the period. Cape Investment Advisory Inc. lifted its stake in shares of 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 purchasing an additional 200 shares during the period. Finally, Clear Street Markets LLC lifted its stake in shares of 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 purchasing an additional 251 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Up 2.9 %

Shares of Micron Technology stock opened at $114.84 on Friday. The business has a 50-day moving average of $105.94 and a 200-day moving average of $88.17. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. The company has a market capitalization of $127.17 billion, a PE ratio of -33.29 and a beta of 1.27. Micron Technology, Inc. has a 1-year low of $59.55 and a 1-year high of $130.54.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. 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) earnings per share. The company’s revenue was up 57.7% on a year-over-year basis. As a group, equities analysts forecast that Micron Technology, Inc. will post 0.24 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders 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 annualized dividend and a dividend yield of 0.40%. Micron Technology’s payout ratio is -13.33%.

Insider Transactions at Micron Technology

In other news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $87.02, for a total transaction of $609,140.00. Following the transaction, the chief executive officer now owns 788,557 shares of the company’s stock, valued at $68,620,230.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total value of $583,377.00. Following the completion of the transaction, the executive vice president now directly owns 148,817 shares in the company, valued at $17,753,868.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $87.02, for a total value of $609,140.00. Following the completion of the transaction, the chief executive officer now owns 788,557 shares of the company’s stock, valued at $68,620,230.14. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 268,890 shares of company stock valued at $29,738,667. Insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

MU has been the topic of a number of recent analyst reports. StockNews.com raised Micron Technology from a “sell” rating to a “hold” rating in a research note on Friday, March 22nd. Wells Fargo & Company increased their price target on Micron Technology from $125.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. Fox Advisors upgraded Micron Technology from an “equal weight” rating to an “overweight” rating in a report on Thursday, March 21st. Needham & Company LLC upped their price objective on Micron Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Finally, Raymond James upped their price objective on Micron Technology from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $122.20.

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.