Whitener Capital Management Inc. Sells 175 Shares of Micron Technology, Inc. (NASDAQ:MU)

Whitener Capital Management Inc. cut its position in Micron Technology, Inc. (NASDAQ:MU) by 5.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,305 shares of the semiconductor manufacturer’s stock after selling 175 shares during the quarter. Whitener Capital Management Inc.’s holdings in Micron Technology were worth $287,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Sunbeam Capital Management LLC acquired a new position in Micron Technology in the fourth quarter valued at about $26,000. Opal Wealth Advisors LLC acquired a new position in Micron Technology in the first quarter valued at about $33,000. Curio Wealth LLC acquired a new position in Micron Technology in the fourth quarter valued at about $34,000. Hurley Capital LLC acquired a new position in Micron Technology in the fourth quarter valued at about $37,000. Finally, Roxbury Financial LLC raised its stake in Micron Technology by 306.1% in the first quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer’s stock valued at $37,000 after purchasing an additional 300 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on MU shares. The Goldman Sachs Group started coverage on Micron Technology in a research note on Thursday. They issued a “neutral” rating and a $130.00 price target for the company. Citigroup boosted their price target on Micron Technology from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, June 26th. Stifel Nicolaus boosted their price target on Micron Technology from $130.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, June 26th. Wedbush boosted their target price on Micron Technology from $150.00 to $165.00 and gave the stock an “outperform” rating in a research note on Thursday, June 26th. Finally, Piper Sandler boosted their target price on Micron Technology from $120.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, June 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Micron Technology presently has an average rating of “Moderate Buy” and a consensus target price of $146.44.

Insiders Place Their Bets

In other Micron Technology news, Director Steven J. Gomo sold 7,000 shares of the stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $125.15, for a total transaction of $876,050.00. Following the transaction, the director directly owned 22,762 shares in the company, valued at approximately $2,848,664.30. This represents a 23.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $125.12, for a total value of $1,876,800.00. Following the transaction, the executive vice president owned 148,167 shares in the company, valued at $18,538,655.04. The trade was a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 254,446 shares of company stock valued at $31,154,717 over the last three months. Insiders own 0.30% of the company’s stock.

Micron Technology Stock Performance

Micron Technology stock opened at $124.53 on Friday. The business has a 50 day moving average of $108.03 and a 200-day moving average of $95.97. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $135.35. The company has a market capitalization of $139.36 billion, a P/E ratio of 22.44 and a beta of 1.35. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 1.89.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, beating the consensus estimate of $1.57 by $0.34. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%. The business had revenue of $9.30 billion for the quarter, compared to analysts’ expectations of $8.83 billion. During the same period in the prior year, the business posted $0.62 earnings per share. On average, equities research analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors of record on Monday, July 7th will be issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.37%. The ex-dividend date of this dividend is Monday, July 7th. Micron Technology’s payout ratio is presently 8.29%.

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.