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

Moran Wealth Management LLC decreased its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 32.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,474 shares of the semiconductor manufacturer's stock after selling 15,222 shares during the quarter. Moran Wealth Management LLC's holdings in Micron Technology were worth $2,735,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in 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 purchasing an additional 888,087 shares in the last quarter. FMR LLC raised its position 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 during the last quarter. Capital World Investors raised its position 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 during the last quarter. Geode Capital Management LLC raised its position in shares of 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 last quarter. Finally, Norges Bank bought a new stake in shares of Micron Technology during the fourth quarter valued at approximately $1,470,875,000. Hedge funds and other institutional investors own 80.84% of the company's stock.

Insider Buying and Selling

In other Micron Technology news, EVP Scott J. Deboer sold 20,000 shares of the business's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $110.00, for a total value of $2,200,000.00. Following the completion of the transaction, the executive vice president now directly owns 186,353 shares in the company, valued at approximately $20,498,830. The trade was a 9.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $125.12, for a total transaction of $1,876,800.00. Following the transaction, the executive vice president now owns 148,167 shares in the company, valued at approximately $18,538,655.04. This trade represents a 9.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 72,404 shares of company stock valued at $8,509,167 over the last three months. 0.30% of the stock is owned by company insiders.

Micron Technology Trading Down 1.0%

Shares of MU traded down $1.24 during trading hours on Friday, reaching $124.76. 36,813,002 shares of the company traded hands, compared to its average volume of 23,366,998. The firm has a market cap of $139.43 billion, a price-to-earnings ratio of 22.48 and a beta of 1.28. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $137.13. The company has a current ratio of 3.13, a quick ratio of 1.99 and a debt-to-equity ratio of 0.28. The stock's fifty day moving average price is $97.59 and its 200 day moving average price is $94.05.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its earnings results 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 firm had revenue of $9.30 billion during the quarter, compared to analyst estimates of $8.83 billion. Micron Technology had a net margin of 18.41% and a return on equity of 13.88%. During the same period in the previous year, the firm earned $0.62 earnings per share. Sell-side analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors of record on Monday, July 7th will be paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date of this dividend is Monday, July 7th. Micron Technology's dividend payout ratio (DPR) is presently 11.03%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of Micron Technology from $98.00 to $135.00 and gave the company an "equal weight" rating in a research report on Thursday. Citigroup lifted their price objective on shares of Micron Technology from $130.00 to $150.00 and gave the company a "buy" rating in a research report on Thursday. Susquehanna lifted their price objective on shares of Micron Technology from $150.00 to $160.00 and gave the company a "positive" rating in a research report on Thursday. JPMorgan Chase & Co. lifted their price objective on shares of Micron Technology from $135.00 to $165.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, Piper Sandler lifted their price objective on shares of Micron Technology from $120.00 to $165.00 and gave the company an "overweight" rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $146.21.

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.