Sheaff Brock Investment Advisors LLC Has $916,000 Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Key Points

• Sheaff Brock Investment Advisors LLC reduced its stake in Micron Technology by 59.4%, now holding shares valued at approximately $916,000.
• Insider Mary Pat Mccarthy sold over 2,400 shares, reducing her ownership by 9.63%, while another director sold 7,000 shares, indicating a trend of insider selling.
• Micron Technology reported $1.91 EPS for the last quarter, surpassing expectations of $1.57, with a revenue of $9.30 billion against estimates of $8.83 billion.

Sheaff Brock Investment Advisors LLC trimmed its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 59.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,547 shares of the semiconductor manufacturer's stock after selling 15,441 shares during the period. Sheaff Brock Investment Advisors LLC's holdings in Micron Technology were worth $916,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of MU. Twin Capital Management Inc. boosted its position in Micron Technology by 0.5% in the 4th quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer's stock valued at $1,688,000 after buying an additional 108 shares during the last quarter. Cim Investment Management Inc. boosted its position in shares of Micron Technology by 0.5% in the 4th quarter. Cim Investment Management Inc. now owns 23,062 shares of the semiconductor manufacturer's stock worth $1,941,000 after purchasing an additional 114 shares during the last quarter. Hazlett Burt & Watson Inc. boosted its position in shares of Micron Technology by 1.1% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 10,481 shares of the semiconductor manufacturer's stock worth $883,000 after purchasing an additional 119 shares during the last quarter. Carson Advisory Inc. boosted its position in shares of Micron Technology by 1.6% in the 4th quarter. Carson Advisory Inc. now owns 8,592 shares of the semiconductor manufacturer's stock worth $723,000 after purchasing an additional 139 shares during the last quarter. Finally, Allen Capital Group LLC boosted its position in shares of Micron Technology by 3.2% in the 1st quarter. Allen Capital Group LLC now owns 4,460 shares of the semiconductor manufacturer's stock worth $388,000 after purchasing an additional 139 shares during the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology 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 owned 22,550 shares of the company's stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven J. Gomo sold 7,000 shares of Micron Technology stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $125.15, for a total value of $876,050.00. Following the transaction, the director owned 22,762 shares of the company's stock, valued at $2,848,664.30. The trade was a 23.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 288,446 shares of company stock valued at $34,871,597 in the last quarter. 0.30% of the stock is currently owned by corporate insiders.

Micron Technology Stock Performance

MU opened at $111.25 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 1.89. The business's 50-day moving average price is $113.19 and its two-hundred day moving average price is $97.62. The company has a market capitalization of $124.50 billion, a price-to-earnings ratio of 20.05 and a beta of 1.35. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $129.85.

Micron Technology (NASDAQ:MU - Get Free Report) last released 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 business had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $8.83 billion. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%. During the same quarter in the previous year, the business earned $0.62 earnings per share. Equities analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 22nd. Investors of record on Monday, July 7th were given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend was Monday, July 7th. Micron Technology's dividend payout ratio is currently 8.29%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MU. Piper Sandler raised their price target on Micron Technology from $120.00 to $165.00 and gave the stock an "overweight" rating in a research report on Thursday, June 26th. Deutsche Bank Aktiengesellschaft initiated coverage on Micron Technology in a research report on Thursday, July 10th. They issued a "buy" rating and a $150.00 price target on the stock. KeyCorp raised their price objective on Micron Technology from $135.00 to $160.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. TD Cowen raised their price objective on Micron Technology from $125.00 to $150.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. Finally, 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 note on Thursday, June 26th. One analyst has rated the stock with a sell rating, five have issued 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, Micron Technology presently has a consensus rating of "Moderate Buy" and a consensus target price of $146.44.

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.

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