Quent Capital LLC Reduces Stock Position in Micron Technology, Inc. $MU

Quent Capital LLC lessened its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 6.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,081 shares of the semiconductor manufacturer’s stock after selling 267 shares during the quarter. Quent Capital LLC’s holdings in Micron Technology were worth $503,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Micron Technology by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 101,906,368 shares of the semiconductor manufacturer’s stock valued at $8,854,644,000 after buying an additional 2,049,163 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Micron Technology by 23.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 10,616,488 shares of the semiconductor manufacturer’s stock valued at $922,467,000 after buying an additional 2,038,641 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Micron Technology by 0.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,938,848 shares of the semiconductor manufacturer’s stock valued at $602,917,000 after buying an additional 58,285 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Micron Technology by 26.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,800,052 shares of the semiconductor manufacturer’s stock valued at $590,807,000 after buying an additional 1,416,174 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Micron Technology by 0.4% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,366,631 shares of the semiconductor manufacturer’s stock valued at $379,417,000 after buying an additional 17,970 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Price Performance

Shares of Micron Technology stock opened at $187.83 on Friday. The business has a 50 day simple moving average of $134.89 and a two-hundred day simple moving average of $110.76. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $191.85. The stock has a market capitalization of $210.20 billion, a P/E ratio of 24.75, a PEG ratio of 0.41 and a beta of 1.56. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.52 and a quick ratio of 1.79.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 21st. Shareholders of record on Friday, October 3rd will be issued a dividend of $0.115 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.2%. Micron Technology’s dividend payout ratio is presently 6.06%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MU. Stifel Nicolaus boosted their price objective on Micron Technology from $173.00 to $195.00 and gave the company a “buy” rating in a report on Monday, September 22nd. Citigroup upped their price target on Micron Technology from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Wall Street Zen cut Micron Technology from a “strong-buy” rating to a “buy” rating in a report on Saturday. Morgan Stanley upped their price target on Micron Technology from $135.00 to $160.00 and gave the stock an “equal weight” rating in a report on Monday, September 22nd. Finally, Wolfe Research upped their price target on Micron Technology from $160.00 to $180.00 and gave the stock an “outperform” rating in a report on Wednesday, September 17th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Micron Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $184.77.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $164.04, for a total transaction of $2,460,600.00. Following the completion of the transaction, the executive vice president owned 131,580 shares of the company’s stock, valued at $21,584,383.20. This represents a 10.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark J. Murphy sold 34,000 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $109.32, for a total value of $3,716,880.00. Following the transaction, the chief financial officer directly owned 264,036 shares of the company’s stock, valued at $28,864,415.52. The trade was a 11.41% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 109,456 shares of company stock valued at $15,698,445. 0.30% of the stock is owned by insiders.

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.