Cerity Partners LLC Sells 11,744 Shares of Micron Technology, Inc. (NASDAQ:MU)

Cerity Partners LLC reduced its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 13.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,173 shares of the semiconductor manufacturer's stock after selling 11,744 shares during the quarter. Cerity Partners LLC's holdings in Micron Technology were worth $6,792,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Micron Technology by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer's stock valued at $8,403,982,000 after acquiring an additional 888,087 shares during the period. FMR LLC grew its holdings in shares of Micron Technology by 34.6% during the fourth quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer's stock valued at $4,012,114,000 after buying an additional 12,249,341 shares in the last quarter. Capital World Investors grew its holdings in shares of Micron Technology by 63.7% during the fourth quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer's stock valued at $3,458,673,000 after buying an additional 15,993,036 shares in the last quarter. Geode Capital Management LLC raised its position in Micron Technology by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 24,449,827 shares of the semiconductor manufacturer's stock valued at $2,052,973,000 after buying an additional 726,282 shares during the period. Finally, Norges Bank purchased a new stake in Micron Technology in the 4th quarter worth about $1,470,875,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MU. UBS Group increased their price target on shares of Micron Technology from $120.00 to $155.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th. Raymond James Financial increased their target price on shares of Micron Technology from $120.00 to $150.00 and gave the stock an "outperform" rating in a research report on Thursday, June 26th. Needham & Company LLC lifted their target price on shares of Micron Technology from $120.00 to $150.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. TD Cowen boosted their price target on shares of Micron Technology from $125.00 to $150.00 and gave the company a "buy" rating in a report on Thursday, June 26th. Finally, Barclays lifted their price objective on Micron Technology from $95.00 to $140.00 and gave the company an "overweight" rating in a research report on Thursday, June 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $146.44.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $125.12, for a total value of $1,876,800.00. Following the transaction, the executive vice president directly owned 148,167 shares in the company, valued at approximately $18,538,655.04. This trade represents a 9.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Scott J. Deboer sold 20,000 shares of the business's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $110.00, for a total value of $2,200,000.00. Following the sale, the executive vice president owned 186,353 shares of the company's stock, valued at approximately $20,498,830. The trade was a 9.69% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 254,446 shares of company stock worth $31,154,717. 0.30% of the stock is owned by company insiders.

Micron Technology Stock Performance

Micron Technology stock traded down $3.68 during mid-day trading on Wednesday, reaching $116.43. The company had a trading volume of 30,549,906 shares, compared to its average volume of 23,334,501. The company has a quick ratio of 1.89, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. The firm has a market cap of $130.30 billion, a price-to-earnings ratio of 20.98 and a beta of 1.35. The company has a 50 day moving average of $109.59 and a 200-day moving average of $96.39. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $130.97.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.57 by $0.34. The business had revenue of $9.30 billion for the quarter, compared to analysts' expectations of $8.83 billion. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%. During the same period in the previous year, the business posted $0.62 earnings per share. On average, sell-side analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors of record on Monday, July 7th will be issued a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, July 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.40%. Micron Technology's dividend payout ratio is 8.29%.

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.