Independent Advisor Alliance Has $5.36 Million Holdings in Micron Technology, Inc. (NASDAQ:MU)

Independent Advisor Alliance lessened its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 6.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 61,632 shares of the semiconductor manufacturer's stock after selling 4,089 shares during the period. Independent Advisor Alliance's holdings in Micron Technology were worth $5,355,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of MU. Sunbeam Capital Management LLC acquired a new stake in shares of Micron Technology during the 4th quarter valued at $26,000. Opal Wealth Advisors LLC bought a new position in Micron Technology in the first quarter valued at about $33,000. Roxbury Financial LLC boosted its stake in shares of Micron Technology by 306.1% during the first quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock valued at $37,000 after purchasing an additional 300 shares in the last quarter. AllSquare Wealth Management LLC grew its holdings in shares of Micron Technology by 100.0% during the first quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock worth $35,000 after purchasing an additional 200 shares during the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of Micron Technology during the first quarter worth about $36,000. Institutional investors and hedge funds own 80.84% of the company's stock.

Insider Activity at Micron Technology

In other news, Director Steven J. Gomo sold 7,000 shares of Micron Technology stock in a transaction on Friday, June 27th. The stock was sold at an average price of $125.15, for a total value of $876,050.00. Following the completion of the transaction, the director directly owned 22,762 shares in the company, valued at approximately $2,848,664.30. The trade was a 23.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $121.28, for a total value of $291,557.12. Following the sale, the director directly owned 22,550 shares in the company, valued at $2,734,864. This trade represents a 9.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 286,042 shares of company stock worth $34,679,277 in the last ninety days. Insiders own 0.30% of the company's stock.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $118.89 on Monday. The company has a market capitalization of $133.05 billion, a P/E ratio of 21.42 and a beta of 1.37. The company's 50-day moving average is $115.95 and its 200 day moving average is $98.07. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.89 and a current ratio of 2.75. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $129.85.

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

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 22nd. Investors of record on Monday, July 7th were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, July 7th. Micron Technology's dividend payout ratio is presently 8.29%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MU. KeyCorp lifted their target price on Micron Technology from $135.00 to $160.00 and gave the stock an "overweight" rating in a report on Thursday, June 26th. Wells Fargo & Company raised their price objective on Micron Technology from $150.00 to $170.00 and gave the stock an "overweight" rating in a research report on Thursday, June 26th. Piper Sandler upped their target price on Micron Technology from $120.00 to $165.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. KGI Securities downgraded shares of Micron Technology from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 23rd. Finally, Barclays raised their price target on shares of Micron Technology from $95.00 to $140.00 and gave the stock an "overweight" rating in a report on Thursday, June 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $146.44.

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.

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