Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its stake in Micron Technology, Inc. (NASDAQ:MU) by 1.3% in the first quarter, Holdings Channel.com reports. The firm owned 839,400 shares of the semiconductor manufacturer’s stock after selling 11,106 shares during the quarter. Victory Capital Management Inc.’s holdings in Micron Technology were worth $72,935,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in MU. Sunbeam Capital Management LLC bought a new stake in Micron Technology during the fourth quarter worth approximately $26,000. Opal Wealth Advisors LLC bought a new position in shares of Micron Technology in the first quarter worth about $33,000. Hurley Capital LLC bought a new stake in shares of Micron Technology during the fourth quarter worth approximately $37,000. Roxbury Financial LLC boosted its holdings in shares of 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 buying an additional 300 shares during the period. Finally, Harbor Investment Advisory LLC lifted its position in shares of Micron Technology by 240.0% in the first quarter. Harbor Investment Advisory LLC now owns 425 shares of the semiconductor manufacturer’s stock worth $37,000 after purchasing an additional 300 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MU has been the topic of several research analyst reports. TD Cowen upped their price objective on shares of Micron Technology from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, June 26th. Wells Fargo & Company upped their target price on Micron Technology from $150.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday, June 26th. The Goldman Sachs Group assumed coverage on Micron Technology in a report on Thursday, July 10th. They issued a “neutral” rating and a $130.00 target price for the company. Wall Street Zen upgraded Micron Technology from a “hold” rating to a “buy” rating in a report on Saturday, June 14th. Finally, China Renaissance cut Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 target price on the stock. in a research report on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $146.44.

Micron Technology Stock Performance

MU opened at $113.26 on Friday. The stock has a market cap of $126.75 billion, a price-to-earnings ratio of 20.41 and a beta of 1.35. The company has a quick ratio of 1.89, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $129.85. The business has a 50 day moving average of $110.82 and a 200-day moving average of $96.72.

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

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th will be given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date is Monday, July 7th. Micron Technology’s dividend payout ratio is currently 8.29%.

Insider Transactions at Micron Technology

In other Micron Technology news, Director Steven J. Gomo sold 7,000 shares of Micron Technology stock in a transaction 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 completion of the transaction, the director directly owned 22,762 shares of the company’s stock, valued at approximately $2,848,664.30. This trade represents a 23.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $121.28, for a total value of $291,557.12. Following the sale, the director directly owned 22,550 shares in the company, valued at $2,734,864. The trade was a 9.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 254,446 shares of company stock valued at $31,154,717 in the last quarter. Insiders own 0.30% of the company’s stock.

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.