Capital Investment Advisors LLC Trims Stock Position in Micron Technology, Inc. $MU

Key Points

• Capital Investment Advisors LLC reduced its stake in Micron Technology, Inc. by 22.1% during the second quarter, ending with 5,788 shares valued at approximately $713,000.
• In contrast, several institutional investors, including Mission Wealth Management and TB Alternative Assets, significantly increased their stakes in Micron Technology, demonstrating interest despite the advisor's sell-off.
• The company's recent quarterly dividend of $0.115 per share reflects an annualized yield of 0.3%, highlighting its commitment to returning value to shareholders.

Capital Investment Advisors LLC cut its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 22.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,788 shares of the semiconductor manufacturer's stock after selling 1,641 shares during the period. Capital Investment Advisors LLC's holdings in Micron Technology were worth $713,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Mission Wealth Management LP raised its stake in shares of Micron Technology by 195.2% in the 1st quarter. Mission Wealth Management LP now owns 15,650 shares of the semiconductor manufacturer's stock valued at $1,360,000 after acquiring an additional 10,348 shares during the period. TB Alternative Assets Ltd. raised its stake in shares of Micron Technology by 331.3% in the 1st quarter. TB Alternative Assets Ltd. now owns 79,788 shares of the semiconductor manufacturer's stock valued at $6,933,000 after acquiring an additional 61,288 shares during the period. Stock Yards Bank & Trust Co. purchased a new stake in shares of Micron Technology in the 1st quarter valued at approximately $228,000. Clarius Group LLC raised its stake in shares of Micron Technology by 57.9% in the 1st quarter. Clarius Group LLC now owns 14,238 shares of the semiconductor manufacturer's stock valued at $1,237,000 after acquiring an additional 5,220 shares during the period. Finally, Kera Capital Partners Inc. purchased a new stake in shares of Micron Technology in the 2nd quarter valued at approximately $211,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Micron Technology news, CFO Mark J. Murphy sold 34,000 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $109.32, for a total value of $3,716,880.00. Following the sale, the chief financial officer directly owned 264,036 shares of the company's stock, valued at approximately $28,864,415.52. This represents a 11.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $164.04, for a total transaction of $2,460,600.00. Following the completion of the sale, the executive vice president directly owned 131,580 shares in the company, valued at approximately $21,584,383.20. This represents a 10.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 94,456 shares of company stock worth $12,985,545. Corporate insiders own 0.30% of the company's stock.

Micron Technology Trading Up 0.9%

Shares of NASDAQ:MU opened at $183.75 on Friday. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $186.18. The company's 50 day moving average is $133.36 and its two-hundred day moving average is $110.11. The company has a current ratio of 2.52, a quick ratio of 1.79 and a debt-to-equity ratio of 0.26. The company has a market cap of $205.64 billion, a PE ratio of 24.21, a P/E/G ratio of 0.40 and a beta of 1.56.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Shareholders of record on Friday, October 3rd will be given a $0.115 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.3%. Micron Technology's dividend payout ratio is currently 6.06%.

Analyst Upgrades and Downgrades

MU has been the topic of a number of research analyst reports. Barclays boosted their price target on shares of Micron Technology from $140.00 to $175.00 and gave the company an "overweight" rating in a research note on Friday, September 19th. Wedbush upped their target price on shares of Micron Technology from $200.00 to $220.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 24th. Cantor Fitzgerald upped their target price on shares of Micron Technology from $185.00 to $200.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 24th. Zacks Research raised shares of Micron Technology from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 19th. Finally, Stifel Nicolaus upped their target price on shares of Micron Technology from $173.00 to $195.00 and gave the stock a "buy" rating in a research note on Monday, September 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $184.77.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.