Prospera Financial Services Inc Sells 40,602 Shares of Micron Technology, Inc. (NASDAQ:MU)

Prospera Financial Services Inc reduced its position in Micron Technology, Inc. (NASDAQ:MU) by 53.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,187 shares of the semiconductor manufacturer’s stock after selling 40,602 shares during the quarter. Prospera Financial Services Inc’s holdings in Micron Technology were worth $3,650,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of MU. Atria Investments Inc lifted its position in Micron Technology by 0.3% during the first quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock valued at $3,269,000 after purchasing an additional 93 shares during the last quarter. Aspect Partners LLC raised its stake in shares of Micron Technology by 39.8% during the second quarter. Aspect Partners LLC now owns 330 shares of the semiconductor manufacturer’s stock worth $43,000 after acquiring an additional 94 shares in the last quarter. Ameritas Advisory Services LLC raised its stake in shares of Micron Technology by 1.3% during the second quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer’s stock worth $1,003,000 after acquiring an additional 98 shares in the last quarter. LRI Investments LLC raised its stake in shares of Micron Technology by 57.2% during the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after acquiring an additional 99 shares in the last quarter. Finally, E&G Advisors LP raised its stake in shares of Micron Technology by 5.2% during the second quarter. E&G Advisors LP now owns 2,015 shares of the semiconductor manufacturer’s stock worth $265,000 after acquiring an additional 100 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the sale, the executive vice president now owns 135,830 shares of the company’s stock, valued at $15,348,790. This represents a 3.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.32% of the stock is owned by insiders.

Micron Technology Stock Performance

Shares of Micron Technology stock opened at $98.37 on Thursday. The stock has a market cap of $109.07 billion, a price-to-earnings ratio of 144.66 and a beta of 1.18. The firm’s 50-day moving average is $101.93 and its 200 day moving average is $112.42. Micron Technology, Inc. has a 1 year low of $72.93 and a 1 year high of $157.54. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68.

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

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend was Monday, October 7th. Micron Technology’s dividend payout ratio (DPR) is 67.65%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Bank of America lifted their target price on shares of Micron Technology from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. TD Cowen lifted their target price on shares of Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $150.00 target price on shares of Micron Technology in a research note on Tuesday, October 1st. Morgan Stanley lifted their target price on shares of Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 26th. Finally, UBS Group decreased their target price on shares of Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have issued 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.

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.