Nicolet Advisory Services LLC Sells 382 Shares of Micron Technology, Inc. (NASDAQ:MU)

Nicolet Advisory Services LLC lowered its stake in Micron Technology, Inc. (NASDAQ:MU) by 3.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 11,621 shares of the semiconductor manufacturer’s stock after selling 382 shares during the quarter. Nicolet Advisory Services LLC’s holdings in Micron Technology were worth $978,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in MU. Benjamin Edwards Inc. purchased a new stake in Micron Technology in the 3rd quarter worth $600,000. Cinctive Capital Management LP purchased a new stake in shares of Micron Technology during the third quarter worth about $1,544,000. Hilltop Holdings Inc. raised its stake in Micron Technology by 337.1% during the 3rd quarter. Hilltop Holdings Inc. now owns 10,710 shares of the semiconductor manufacturer’s stock valued at $1,111,000 after purchasing an additional 8,260 shares during the period. Janus Henderson Group PLC lifted its holdings in Micron Technology by 6.4% in the 3rd quarter. Janus Henderson Group PLC now owns 1,516,256 shares of the semiconductor manufacturer’s stock worth $157,243,000 after purchasing an additional 91,469 shares in the last quarter. Finally, Investment Management Corp of Ontario boosted its stake in Micron Technology by 18.2% in the 3rd quarter. Investment Management Corp of Ontario now owns 36,759 shares of the semiconductor manufacturer’s stock worth $3,812,000 after purchasing an additional 5,662 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MU has been the subject of several research reports. Robert W. Baird increased their price objective on shares of Micron Technology from $130.00 to $163.00 and gave the company an “outperform” rating in a report on Friday, March 21st. Royal Bank of Canada set a $125.00 price objective on Micron Technology in a research note on Wednesday, March 19th. Bank of America lowered Micron Technology from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $125.00 to $110.00 in a research note on Thursday, December 19th. Piper Sandler cut their target price on Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Finally, UBS Group raised their price target on Micron Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, March 17th. 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $129.76.

Micron Technology Stock Down 0.1 %

Shares of Micron Technology stock opened at $88.60 on Thursday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The stock has a market cap of $99.02 billion, a price-to-earnings ratio of 25.53 and a beta of 1.23. The firm’s 50-day moving average is $94.80 and its two-hundred day moving average is $98.42. Micron Technology, Inc. has a 1 year low of $82.42 and a 1 year high of $157.54.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. The firm had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company’s quarterly revenue was up 38.2% on a year-over-year basis. During the same period last year, the firm earned $0.42 earnings per share. As a group, research analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend is Monday, March 31st. Micron Technology’s payout ratio is 11.03%.

Insider Buying and Selling

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the completion of the sale, the director now owns 27,358 shares of the company’s stock, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the business’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value of $1,442,700.00. Following the transaction, the executive vice president now owns 164,769 shares in the company, valued at approximately $15,847,482.42. This trade represents a 8.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by company insiders.

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.