Farther Finance Advisors LLC Sells 8,788 Shares of Micron Technology, Inc. (NASDAQ:MU)

Farther Finance Advisors LLC reduced its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 57.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 6,423 shares of the semiconductor manufacturer’s stock after selling 8,788 shares during the period. Farther Finance Advisors LLC’s holdings in Micron Technology were worth $666,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. UG Investment Advisers Ltd. lifted its stake in Micron Technology by 24.5% in the third quarter. UG Investment Advisers Ltd. now owns 486,315 shares of the semiconductor manufacturer’s stock worth $50,436,000 after purchasing an additional 95,643 shares during the last quarter. Americana Partners LLC lifted its stake in Micron Technology by 152.0% in the third quarter. Americana Partners LLC now owns 7,670 shares of the semiconductor manufacturer’s stock worth $795,000 after purchasing an additional 4,626 shares during the last quarter. Lebenthal Global Advisors LLC lifted its stake in Micron Technology by 142.4% in the third quarter. Lebenthal Global Advisors LLC now owns 7,360 shares of the semiconductor manufacturer’s stock worth $763,000 after purchasing an additional 4,324 shares during the last quarter. Hills Bank & Trust Co bought a new stake in Micron Technology in the third quarter worth $108,000. Finally, Deroy & Devereaux Private Investment Counsel Inc. lifted its stake in Micron Technology by 61.0% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 241,147 shares of the semiconductor manufacturer’s stock worth $25,009,000 after purchasing an additional 91,392 shares during the last quarter. 80.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on MU. Rosenblatt Securities boosted their price target on shares of Micron Technology from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. TD Cowen boosted their price objective on shares of Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Stifel Nicolaus decreased their price objective on shares of Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, September 19th. Needham & Company LLC restated a “buy” rating and issued a $140.00 price objective on shares of Micron Technology in a research report on Thursday, September 26th. Finally, BNP Paribas cut shares of Micron Technology from an “outperform” rating to an “underperform” rating and decreased their price objective for the company from $140.00 to $67.00 in a research report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Micron Technology currently has an average rating of “Moderate Buy” and a consensus price target of $143.04.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.32% of the company’s stock.

Micron Technology Price Performance

Shares of MU opened at $105.49 on Wednesday. The stock has a market cap of $116.96 billion, a PE ratio of 155.13 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. Micron Technology, Inc. has a fifty-two week low of $71.71 and a fifty-two week high of $157.54. The firm’s 50-day simple moving average is $99.15 and its two-hundred day simple moving average is $113.10.

Micron Technology (NASDAQ:MU) last issued its 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. The firm had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The business’s revenue was up 93.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.21) earnings per share. Analysts anticipate that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were paid a $0.115 dividend. The ex-dividend date was Monday, October 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.44%. Micron Technology’s dividend payout ratio is presently 67.65%.

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.