Certified Advisory Corp Sells 790 Shares of Micron Technology, Inc. (NASDAQ:MU)

Certified Advisory Corp lessened its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 16.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 4,042 shares of the semiconductor manufacturer’s stock after selling 790 shares during the period. Certified Advisory Corp’s holdings in Micron Technology were worth $419,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Camden National Bank acquired a new stake in shares of Micron Technology in the 3rd quarter valued at $363,000. Stonebrook Private Inc. boosted its holdings in Micron Technology by 4.2% in the third quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock valued at $255,000 after acquiring an additional 98 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd increased its position in Micron Technology by 73.8% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 695,000 shares of the semiconductor manufacturer’s stock worth $72,078,000 after purchasing an additional 295,000 shares during the period. Meridian Wealth Management LLC bought a new stake in Micron Technology during the 3rd quarter worth about $730,000. Finally, Nwam LLC lifted its position in Micron Technology by 44.8% during the 3rd quarter. Nwam LLC now owns 16,055 shares of the semiconductor manufacturer’s stock valued at $1,665,000 after purchasing an additional 4,965 shares during the period. 80.84% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the sale, the executive vice president now owns 135,830 shares in the company, valued at approximately $15,348,790. This represents a 3.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.32% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

MU has been the subject of several analyst reports. Bank of America lifted their price target on shares of Micron Technology from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Susquehanna dropped their target price on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a research report on Thursday, September 26th. Morgan Stanley raised their price target on Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. China Renaissance started coverage on Micron Technology in a research note on Monday, October 28th. They set a “buy” rating and a $148.00 price objective for the company. Finally, Robert W. Baird cut their target price on Micron Technology from $172.00 to $150.00 and set an “outperform” rating on the stock in a research note on Friday, September 27th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $143.04.

Micron Technology Price Performance

Shares of MU opened at $102.64 on Friday. The company has a 50 day moving average of $102.46 and a 200-day moving average of $112.18. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $113.80 billion, a P/E ratio of 150.94 and a beta of 1.18. Micron Technology, Inc. has a twelve month low of $72.93 and a twelve month high of $157.54.

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

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were issued a dividend of $0.115 per share. The ex-dividend date was Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.45%. Micron Technology’s payout ratio is 67.65%.

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.