CX Institutional Sells 539 Shares of Micron Technology, Inc. (NASDAQ:MU)

CX Institutional decreased its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 7.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 6,795 shares of the semiconductor manufacturer’s stock after selling 539 shares during the quarter. CX Institutional’s holdings in Micron Technology were worth $705,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of the business. ORG Wealth Partners LLC acquired a new stake in shares of Micron Technology in the third quarter valued at approximately $136,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings in Micron Technology by 8.2% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,177 shares of the semiconductor manufacturer’s stock valued at $329,000 after acquiring an additional 242 shares in the last quarter. Oliver Luxxe Assets LLC lifted its position in shares of Micron Technology by 6.4% during the 3rd quarter. Oliver Luxxe Assets LLC now owns 59,584 shares of the semiconductor manufacturer’s stock valued at $6,179,000 after acquiring an additional 3,610 shares during the period. Compagnie Lombard Odier SCmA grew its holdings in shares of Micron Technology by 140.9% during the 3rd quarter. Compagnie Lombard Odier SCmA now owns 11,436 shares of the semiconductor manufacturer’s stock worth $1,186,000 after purchasing an additional 6,688 shares in the last quarter. Finally, Webster Bank N. A. increased its position in shares of Micron Technology by 679.2% in the third quarter. Webster Bank N. A. now owns 826 shares of the semiconductor manufacturer’s stock worth $86,000 after purchasing an additional 720 shares during the period. Institutional investors own 80.84% of the company’s stock.

Wall Street Analysts Forecast Growth

MU has been the topic of a number of analyst reports. Piper Sandler increased their price objective on shares of Micron Technology from $130.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Rosenblatt Securities lifted their price objective on shares of Micron Technology from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. JPMorgan Chase & Co. upped their target price on Micron Technology from $130.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Susquehanna decreased their price target on Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a research note on Thursday, September 26th. Finally, Citigroup dropped their price objective on Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $142.85.

Micron Technology Trading Up 4.7 %

MU opened at $109.24 on Thursday. Micron Technology, Inc. has a twelve month low of $63.88 and a twelve month high of $157.54. The company has a fifty day moving average of $97.88 and a 200-day moving average of $114.64. The stock has a market cap of $121.13 billion, a PE ratio of -76.93 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.

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

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th will be paid a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.42%. The ex-dividend date is Monday, October 7th. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the sale, the executive vice president now directly owns 135,830 shares in the company, valued at approximately $15,348,790. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.32% 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.