Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Massmutual Trust Co. FSB ADV

Massmutual Trust Co. FSB ADV cut its holdings in Micron Technology, Inc. (NASDAQ:MU) by 7.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,109 shares of the semiconductor manufacturer’s stock after selling 262 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Micron Technology were worth $322,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. DecisionPoint Financial LLC acquired a new stake in shares of Micron Technology during the first quarter worth $25,000. Hobbs Group Advisors LLC purchased a new position in Micron Technology in the 2nd quarter worth about $28,000. Valued Wealth Advisors LLC raised its holdings in Micron Technology by 230.7% during the 1st quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $29,000 after buying an additional 173 shares during the period. Davis Capital Management purchased a new stake in Micron Technology during the third quarter valued at about $30,000. Finally, Richard W. Paul & Associates LLC boosted its holdings in shares of Micron Technology by 128.6% in the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 144 shares during the period. 80.84% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related 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 transaction, the executive vice president now owns 135,830 shares in the company, valued at $15,348,790. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on MU shares. Morgan Stanley raised their target price on Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. Piper Sandler raised their price objective on Micron Technology from $130.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Bank of America upped their target price on Micron Technology from $110.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Stifel Nicolaus decreased their price target on shares of Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, September 19th. Finally, Robert W. Baird dropped their price objective on shares of Micron Technology from $172.00 to $150.00 and set an “outperform” rating on the stock in a research note on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $143.23.

Micron Technology Price Performance

NASDAQ:MU opened at $102.25 on Friday. The company has a market capitalization of $113.38 billion, a price-to-earnings ratio of -72.01, a PEG ratio of 0.20 and a beta of 1.18. The company has a 50-day moving average of $96.66 and a 200-day moving average of $115.10. Micron Technology, Inc. has a 52 week low of $63.88 and a 52 week high of $157.54. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 3.41.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping the consensus estimate of $0.97 by $0.21. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The business had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.65 billion. During the same quarter last year, the company earned ($1.21) EPS. Micron Technology’s revenue was up 93.3% on a year-over-year basis. As a group, equities research analysts anticipate that Micron Technology, Inc. will post 0.61 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th will be given a $0.115 dividend. The ex-dividend date is Monday, October 7th. This represents a $0.46 annualized dividend and a yield of 0.45%. Micron Technology’s payout ratio is -32.39%.

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.