ORG Partners LLC Sells 651 Shares of Micron Technology, Inc. (NASDAQ:MU)

ORG Partners LLC lowered its stake in Micron Technology, Inc. (NASDAQ:MU) by 29.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,549 shares of the semiconductor manufacturer’s stock after selling 651 shares during the period. ORG Partners LLC’s holdings in Micron Technology were worth $161,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Clearbridge Investments LLC boosted its stake in shares of Micron Technology by 1.1% in the 1st quarter. Clearbridge Investments LLC now owns 1,931,811 shares of the semiconductor manufacturer’s stock valued at $227,741,000 after purchasing an additional 20,741 shares during the last quarter. Chapin Davis Inc. acquired a new position in Micron Technology in the second quarter valued at approximately $4,056,000. Handelsbanken Fonder AB boosted its stake in Micron Technology by 2.4% in the third quarter. Handelsbanken Fonder AB now owns 434,596 shares of the semiconductor manufacturer’s stock valued at $45,072,000 after acquiring an additional 9,992 shares during the last quarter. Norden Group LLC grew its holdings in Micron Technology by 1,916.7% during the 1st quarter. Norden Group LLC now owns 50,134 shares of the semiconductor manufacturer’s stock worth $5,910,000 after acquiring an additional 47,648 shares during the period. Finally, Gulf International Bank UK Ltd raised its position in shares of Micron Technology by 6.3% during the 1st quarter. Gulf International Bank UK Ltd now owns 99,839 shares of the semiconductor manufacturer’s stock valued at $11,770,000 after acquiring an additional 5,958 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on MU shares. Needham & Company LLC restated a “buy” rating and issued a $140.00 price target on shares of Micron Technology in a research report on Thursday, September 26th. Piper Sandler raised their target price on Micron Technology from $130.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Stifel Nicolaus lowered their price target on Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, September 19th. Wedbush reiterated an “outperform” rating and issued a $140.00 price target on shares of Micron Technology in a research report on Thursday, September 26th. Finally, Rosenblatt Securities boosted their price objective on shares of Micron Technology from $225.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat, Micron Technology has an average rating of “Moderate Buy” and an average target price of $142.85.

Micron Technology Stock Down 3.7 %

NASDAQ:MU opened at $104.32 on Wednesday. Micron Technology, Inc. has a twelve month low of $63.88 and a twelve month high of $157.54. The firm has a market capitalization of $115.67 billion, a price-to-earnings ratio of -73.46 and a beta of 1.18. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. The stock’s 50 day moving average price is $97.43 and its two-hundred day moving average price is $114.68.

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

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Monday, October 7th will be issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend is Monday, October 7th. Micron Technology’s payout ratio is currently -32.39%.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the sale, the executive vice president now owns 135,830 shares in the company, valued at approximately $15,348,790. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.32% 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.