Cable Hill Partners LLC Sells 164 Shares of Micron Technology, Inc. (NASDAQ:MU)

Cable Hill Partners LLC decreased its holdings in Micron Technology, Inc. (NASDAQ:MU) by 5.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 2,754 shares of the semiconductor manufacturer’s stock after selling 164 shares during the quarter. Cable Hill Partners LLC’s holdings in Micron Technology were worth $286,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Atria Investments Inc grew its stake in shares of Micron Technology by 0.3% during the first quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock worth $3,269,000 after purchasing an additional 93 shares during the period. Aspect Partners LLC raised its holdings in Micron Technology by 39.8% during the second quarter. Aspect Partners LLC now owns 330 shares of the semiconductor manufacturer’s stock worth $43,000 after acquiring an additional 94 shares in the last quarter. Ameritas Advisory Services LLC raised its holdings in Micron Technology by 1.3% during the second quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer’s stock worth $1,003,000 after acquiring an additional 98 shares in the last quarter. LRI Investments LLC raised its holdings in Micron Technology by 57.2% during the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after acquiring an additional 99 shares in the last quarter. Finally, E&G Advisors LP raised its holdings in Micron Technology by 5.2% during the second quarter. E&G Advisors LP now owns 2,015 shares of the semiconductor manufacturer’s stock worth $265,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MU. KeyCorp lowered their price target on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 8th. China Renaissance initiated coverage on Micron Technology in a research note on Monday, October 28th. They set a “buy” rating and a $148.00 target price for the company. Citigroup dropped their price target on Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. Susquehanna lowered their target price on Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a research report on Thursday, September 26th. Finally, Wedbush reaffirmed an “outperform” rating and set a $140.00 target price on shares of Micron Technology in a research report on Thursday, September 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $143.04.

Micron Technology Trading Down 0.7 %

Shares of Micron Technology stock opened at $99.18 on Friday. The firm has a market capitalization of $109.96 billion, a price-to-earnings ratio of 145.86 and a beta of 1.18. Micron Technology, Inc. has a 12-month low of $72.93 and a 12-month high of $157.54. The firm’s 50 day simple moving average is $100.93 and its two-hundred day simple moving average is $112.94. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.21. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The firm had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.65 billion. During the same period last year, the business earned ($1.21) earnings per share. Micron Technology’s revenue was up 93.3% compared to the same quarter last year. Analysts predict that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were paid a $0.115 dividend. The ex-dividend date was Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.46%. Micron Technology’s dividend payout ratio is currently 67.65%.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the sale, the executive vice president now owns 135,830 shares in the company, valued at approximately $15,348,790. The trade was a 3.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.32% of the stock is owned by insiders.

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.