Beacon Investment Advisory Services Inc. Sells 1,060 Shares of Micron Technology, Inc. (NASDAQ:MU)

Beacon Investment Advisory Services Inc. lessened its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 18.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,700 shares of the semiconductor manufacturer’s stock after selling 1,060 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Micron Technology were worth $487,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in MU. Highline Wealth Partners LLC bought a new position in Micron Technology in the third quarter worth $26,000. Hobbs Group Advisors LLC bought a new position in Micron Technology in the second quarter worth $28,000. Davis Capital Management bought a new position in Micron Technology in the third quarter worth $30,000. True Wealth Design LLC raised its holdings in Micron Technology by 1,096.3% in the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after purchasing an additional 296 shares in the last quarter. Finally, Richard W. Paul & Associates LLC raised its holdings in Micron Technology by 128.6% in the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 144 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on MU shares. Raymond James increased their target price on Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Rosenblatt Securities increased their target price on Micron Technology from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Wells Fargo & Company cut their target price on Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 18th. TD Cowen increased their target price on Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $140.00 target price on shares of Micron Technology in a research note on Thursday, September 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $143.04.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred 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 sale, the executive vice president now owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. This trade represents a 3.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.32% of the company’s stock.

Micron Technology Stock Up 0.6 %

MU stock opened at $98.55 on Tuesday. Micron Technology, Inc. has a fifty-two week low of $72.93 and a fifty-two week high of $157.54. The business’s 50-day moving average is $103.60 and its two-hundred day moving average is $111.32. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. The company has a market cap of $109.79 billion, a price-to-earnings ratio of 144.93 and a beta of 1.18.

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

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend was Monday, October 7th. Micron Technology’s dividend payout ratio (DPR) is currently 67.65%.

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.