Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Dakota Wealth Management

Dakota Wealth Management lowered its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 30.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,181 shares of the semiconductor manufacturer's stock after selling 6,742 shares during the period. Dakota Wealth Management's holdings in Micron Technology were worth $1,319,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in MU. Vanguard Group Inc. raised its holdings in shares of Micron Technology by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer's stock worth $8,403,982,000 after purchasing an additional 888,087 shares during the period. FMR LLC raised its holdings in shares of Micron Technology by 34.6% in the 4th quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer's stock worth $4,012,114,000 after purchasing an additional 12,249,341 shares during the period. Capital World Investors raised its holdings in shares of Micron Technology by 63.7% in the 4th quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer's stock worth $3,458,673,000 after purchasing an additional 15,993,036 shares during the period. Geode Capital Management LLC raised its holdings in shares of Micron Technology by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 24,449,827 shares of the semiconductor manufacturer's stock worth $2,052,973,000 after purchasing an additional 726,282 shares during the period. Finally, Norges Bank purchased a new position in shares of Micron Technology in the 4th quarter worth about $1,470,875,000. Institutional investors and hedge funds own 80.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on MU shares. Barclays raised their price objective on Micron Technology from $95.00 to $140.00 and gave the company an "overweight" rating in a research note on Thursday, June 26th. Piper Sandler raised their price objective on Micron Technology from $120.00 to $165.00 and gave the company an "overweight" rating in a research note on Thursday, June 26th. Morgan Stanley raised their price objective on Micron Technology from $98.00 to $135.00 and gave the company an "equal weight" rating in a research note on Thursday, June 26th. Mizuho raised their price objective on Micron Technology from $124.00 to $130.00 and gave the company an "outperform" rating in a research note on Thursday, June 5th. Finally, The Goldman Sachs Group started coverage on Micron Technology in a research note on Thursday, July 10th. They set a "neutral" rating and a $130.00 price objective for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $146.44.

Insider Buying and Selling at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $121.28, for a total transaction of $291,557.12. Following the completion of the transaction, the director owned 22,550 shares in the company, valued at approximately $2,734,864. This represents a 9.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Sumit Sadana sold 92,638 shares of the company's stock in a transaction on Friday, June 27th. The stock was sold at an average price of $125.49, for a total transaction of $11,625,142.62. Following the transaction, the executive vice president owned 201,326 shares of the company's stock, valued at approximately $25,264,399.74. This represents a 31.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold 254,446 shares of company stock valued at $31,154,717 in the last quarter. Insiders own 0.30% of the company's stock.

Micron Technology Trading Down 3.3%

NASDAQ:MU traded down $3.84 during trading hours on Thursday, reaching $112.59. The company's stock had a trading volume of 27,517,364 shares, compared to its average volume of 23,362,550. The firm has a market capitalization of $126.00 billion, a price-to-earnings ratio of 20.31 and a beta of 1.35. The firm has a 50-day simple moving average of $110.26 and a 200-day simple moving average of $96.52. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $129.85. 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 (NASDAQ:MU - Get Free Report) last announced its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, beating 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 firm had revenue of $9.30 billion for the quarter, compared to analyst estimates of $8.83 billion. During the same quarter in the previous year, the firm posted $0.62 EPS. Research analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders 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 0.41%. Micron Technology's dividend payout ratio is currently 8.29%.

Micron Technology Company 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.