Parallel Advisors LLC Sells 2,913 Shares of Micron Technology, Inc. (NASDAQ:MU)

Parallel Advisors LLC trimmed its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 16.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,880 shares of the semiconductor manufacturer's stock after selling 2,913 shares during the period. Parallel Advisors LLC's holdings in Micron Technology were worth $1,293,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Sunbeam Capital Management LLC bought a new position in shares of Micron Technology in the fourth quarter worth approximately $26,000. Beacon Capital Management LLC lifted its stake in shares of Micron Technology by 114.9% during the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock valued at $31,000 after buying an additional 200 shares in the last quarter. Midwest Capital Advisors LLC bought a new position in Micron Technology in the 4th quarter worth $33,000. Comprehensive Financial Planning Inc. PA purchased a new stake in Micron Technology in the 4th quarter worth $34,000. Finally, Curio Wealth LLC purchased a new stake in Micron Technology in the 4th quarter worth $34,000. 80.84% of the stock is owned by institutional investors.

Insider Transactions at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $80.00, for a total value of $192,320.00. Following the sale, the director now directly owns 24,954 shares of the company's stock, valued at $1,996,320. This represents a 8.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the firm's stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the completion of the sale, the executive vice president now directly owns 164,769 shares of the company's stock, valued at approximately $15,847,482.42. The trade was a 8.34% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.30% of the company's stock.

Micron Technology Trading Up 4.1%

Shares of NASDAQ:MU traded up $4.07 during trading on Tuesday, reaching $102.25. The company's stock had a trading volume of 22,724,009 shares, compared to its average volume of 23,504,636. The stock has a market capitalization of $114.27 billion, a PE ratio of 29.47 and a beta of 1.21. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $157.54. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The firm's 50 day simple moving average is $82.67 and its two-hundred day simple moving average is $91.88.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping analysts' consensus estimates of $1.43 by $0.13. The firm had revenue of $8.05 billion during the quarter, compared to analysts' expectations of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company's quarterly revenue was up 38.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.42 EPS. On average, research analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.115 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.46 annualized dividend and a dividend yield of 0.45%. Micron Technology's dividend payout ratio (DPR) is presently 11.03%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MU. Robert W. Baird boosted their price objective on Micron Technology from $130.00 to $163.00 and gave the company an "outperform" rating in a research report on Friday, March 21st. Rosenblatt Securities decreased their target price on Micron Technology from $250.00 to $200.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. Morgan Stanley dropped their price target on Micron Technology from $112.00 to $98.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 7th. KGI Securities raised shares of Micron Technology to a "strong-buy" rating in a report on Friday, February 21st. Finally, China Renaissance cut shares of Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price objective on the stock. in a research report on Wednesday, March 26th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $126.48.

Micron Technology 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.