First Heartland Consultants Inc. Decreases Holdings in Micron Technology, Inc. (NASDAQ:MU)

First Heartland Consultants Inc. trimmed its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 59.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,979 shares of the semiconductor manufacturer’s stock after selling 7,350 shares during the period. First Heartland Consultants Inc.’s holdings in Micron Technology were worth $516,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in MU. Prime Capital Investment Advisors LLC increased its position in Micron Technology by 21.5% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 45,403 shares of the semiconductor manufacturer’s stock valued at $4,709,000 after acquiring an additional 8,026 shares during the period. Ashton Thomas Private Wealth LLC boosted its holdings in Micron Technology by 2.8% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 18,835 shares of the semiconductor manufacturer’s stock valued at $1,953,000 after purchasing an additional 512 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Micron Technology by 7.4% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,276,245 shares of the semiconductor manufacturer’s stock valued at $443,489,000 after purchasing an additional 295,452 shares in the last quarter. WealthPLAN Partners LLC boosted its holdings in Micron Technology by 75.3% in the 3rd quarter. WealthPLAN Partners LLC now owns 3,433 shares of the semiconductor manufacturer’s stock valued at $356,000 after purchasing an additional 1,475 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its holdings in Micron Technology by 302.9% in the 3rd quarter. GSA Capital Partners LLP now owns 19,552 shares of the semiconductor manufacturer’s stock valued at $2,028,000 after purchasing an additional 14,699 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on MU shares. Wells Fargo & Company decreased their price target on Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 18th. Robert W. Baird reduced 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. Citigroup reduced their target price on Micron Technology from $175.00 to $150.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. China Renaissance began coverage on Micron Technology in a report on Monday, October 28th. They issued a “buy” rating and a $148.00 price target for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $150.00 price target on shares of Micron Technology in a report on Tuesday, October 1st. One 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $143.04.

Micron Technology Trading Down 4.2 %

Micron Technology stock opened at $104.10 on Wednesday. The company has a 50 day moving average price of $100.41 and a 200 day moving average price of $113.11. Micron Technology, Inc. has a 52 week low of $72.93 and a 52 week high of $157.54. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. The firm has a market capitalization of $115.42 billion, a price-to-earnings ratio of 153.09 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.21. The company had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The company’s revenue for the quarter was up 93.3% on a year-over-year basis. During the same quarter last year, the business posted ($1.21) EPS. Research analysts forecast that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders 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 dividend yield of 0.44%. Micron Technology’s dividend payout ratio is currently 67.65%.

Insider Activity

In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the transaction, the executive vice president now owns 135,830 shares in the company, valued at $15,348,790. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.32% of the stock is owned by insiders.

About Micron Technology

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.