Magnus Financial Group LLC Reduces Position in Micron Technology, Inc. (NASDAQ:MU)

Magnus Financial Group LLC lessened its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 11.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,996 shares of the semiconductor manufacturer’s stock after selling 250 shares during the period. Magnus Financial Group LLC’s holdings in Micron Technology were worth $207,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MU. SWS Partners purchased a new stake in shares of Micron Technology in the third quarter valued at approximately $1,665,000. Swedbank AB boosted its holdings in shares of Micron Technology by 30.4% in the third quarter. Swedbank AB now owns 3,455,819 shares of the semiconductor manufacturer’s stock valued at $358,403,000 after purchasing an additional 806,639 shares during the period. Occidental Asset Management LLC boosted its holdings in shares of Micron Technology by 65.6% in the third quarter. Occidental Asset Management LLC now owns 3,960 shares of the semiconductor manufacturer’s stock valued at $411,000 after purchasing an additional 1,569 shares during the period. Creative Planning boosted its holdings in shares of Micron Technology by 8.1% in the third quarter. Creative Planning now owns 161,774 shares of the semiconductor manufacturer’s stock valued at $16,751,000 after purchasing an additional 12,168 shares during the period. Finally, ORG Wealth Partners LLC purchased a new stake in Micron Technology during the third quarter worth $136,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $15,348,790. The trade was a 0.00 % decrease in their ownership of the stock. The sale 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 corporate insiders.

Micron Technology Stock Performance

NASDAQ MU opened at $109.24 on Thursday. The firm has a market capitalization of $121.13 billion, a P/E ratio of -76.93 and a beta of 1.18. The stock has a 50-day simple moving average of $97.88 and a two-hundred day simple moving average of $114.64. Micron Technology, Inc. has a fifty-two week low of $63.88 and a fifty-two week high of $157.54. 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 (NASDAQ:MU) last issued its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.21. The business had revenue of $7.75 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 93.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.21) EPS. On average, equities analysts forecast that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently announced 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. This represents a $0.46 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date is Monday, October 7th. Micron Technology’s payout ratio is -32.39%.

Wall Street Analysts Forecast Growth

MU has been the subject of a number of analyst reports. Robert W. Baird lowered their target price on Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a report on Friday, September 27th. Wolfe Research upped their target price on Micron Technology from $150.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, June 21st. UBS Group lowered their target price on Micron Technology from $153.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. The Goldman Sachs Group upped their price target on Micron Technology from $138.00 to $158.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Finally, Citigroup decreased their price objective on Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.85.

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.