Main Management ETF Advisors LLC Sells 1,920 Shares of Micron Technology, Inc. (NASDAQ:MU)

Main Management ETF Advisors LLC lessened its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 8.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,360 shares of the semiconductor manufacturer’s stock after selling 1,920 shares during the period. Main Management ETF Advisors LLC’s holdings in Micron Technology were worth $1,798,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Beacon Capital Management LLC boosted its stake in Micron Technology by 114.9% in the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after buying an additional 200 shares in the last quarter. Midwest Capital Advisors LLC bought a new stake in shares of Micron Technology during the 4th quarter valued at approximately $33,000. Activest Wealth Management increased its position in Micron Technology by 583.3% during the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 350 shares in the last quarter. Comprehensive Financial Planning Inc. PA bought a new position in Micron Technology in the 4th quarter valued at approximately $34,000. Finally, Curio Wealth LLC acquired a new stake in Micron Technology in the fourth quarter valued at approximately $34,000. 80.84% of the stock is owned by institutional investors.

Micron Technology Stock Performance

Shares of Micron Technology stock opened at $96.93 on Wednesday. The company has a 50-day simple moving average of $82.74 and a two-hundred day simple moving average of $92.81. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $157.54. The company has a market capitalization of $108.33 billion, a PE ratio of 27.93 and a beta of 1.21.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.05 billion during the quarter, compared to analysts’ expectations of $7.93 billion. During the same period last year, the business posted $0.42 earnings per share. The firm’s revenue was up 38.2% compared to the same quarter last year. Research analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.47%. The ex-dividend date was Monday, March 31st. Micron Technology’s payout ratio is 11.03%.

Analyst Ratings Changes

A number of brokerages recently issued reports on MU. KGI Securities upgraded shares of Micron Technology to a “strong-buy” rating in a report on Friday, February 21st. Cantor Fitzgerald reiterated an “overweight” rating and set a $130.00 price objective on shares of Micron Technology in a report on Friday, March 21st. JPMorgan Chase & Co. decreased their price objective on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research note on Friday, March 21st. Citigroup dropped their price objective on Micron Technology from $120.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Finally, Wells Fargo & Company restated an “equal weight” rating on shares of Micron Technology in a research report on Monday, April 28th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $126.48.

Insider Activity

In related news, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the sale, the executive vice president now owns 164,769 shares of the company’s stock, valued at approximately $15,847,482.42. This trade represents a 8.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the sale, the director now owns 27,358 shares of the company’s stock, valued at approximately $2,542,378.94. This trade represents a 8.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,808 shares of company stock valued at $1,858,424 in the last ninety days. Insiders own 0.30% of the company’s stock.

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.