Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. reduced its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 45.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,140 shares of the semiconductor manufacturer's stock after selling 12,859 shares during the period. Stratos Wealth Partners LTD.'s holdings in Micron Technology were worth $1,316,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Sunbeam Capital Management LLC purchased a new stake in shares of Micron Technology during the 4th quarter valued at about $26,000. Opal Wealth Advisors LLC purchased a new stake in shares of Micron Technology during the 1st quarter valued at about $33,000. Roxbury Financial LLC raised its position in shares of Micron Technology by 306.1% during the 1st quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock valued at $37,000 after buying an additional 300 shares in the last quarter. Curio Wealth LLC purchased a new stake in shares of Micron Technology during the 4th quarter valued at about $34,000. Finally, Hurley Capital LLC purchased a new stake in shares of Micron Technology during the 4th quarter valued at about $37,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology 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 sale, the director directly owned 22,550 shares in the company, valued at approximately $2,734,864. The trade was a 9.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $125.12, for a total transaction of $1,876,800.00. Following the sale, the executive vice president owned 148,167 shares of the company's stock, valued at $18,538,655.04. The trade was a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 254,446 shares of company stock valued at $31,154,717. Company insiders own 0.30% of the company's stock.

Micron Technology Stock Up 1.2%

MU traded up $1.42 during trading on Friday, hitting $124.53. The stock had a trading volume of 15,803,821 shares, compared to its average volume of 23,251,935. The company has a market capitalization of $139.36 billion, a PE ratio of 22.44 and a beta of 1.35. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $135.35. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.89 and a current ratio of 2.75. The stock has a 50 day simple moving average of $108.03 and a two-hundred day simple moving average of $95.97.

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 the consensus estimate of $1.57 by $0.34. The company had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $8.83 billion. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. During the same period last year, the firm earned $0.62 earnings per share. On average, research analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th will be paid a dividend of $0.115 per share. The ex-dividend date is Monday, July 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.37%. Micron Technology's payout ratio is currently 8.29%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on MU shares. Raymond James Financial upped their target price on shares of Micron Technology from $120.00 to $150.00 and gave the company an "outperform" rating in a research report on Thursday, June 26th. Deutsche Bank Aktiengesellschaft started coverage on shares of Micron Technology in a research report on Thursday. They issued a "buy" rating and a $150.00 price objective on the stock. Wells Fargo & Company upped their target price on shares of Micron Technology from $150.00 to $170.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Needham & Company LLC upped their target price on shares of Micron Technology from $120.00 to $150.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. Finally, Stifel Nicolaus upped their target price on shares of Micron Technology from $130.00 to $145.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $146.44.

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.