Micron Technology, Inc. (NASDAQ:MU) Holdings Lowered by Alerus Financial NA

Alerus Financial NA lessened its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 4.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 50,743 shares of the semiconductor manufacturer’s stock after selling 2,170 shares during the quarter. Alerus Financial NA’s holdings in Micron Technology were worth $5,263,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC bought a new position in shares of Micron Technology during the 3rd quarter valued at about $26,000. Hobbs Group Advisors LLC acquired a new stake in Micron Technology during the second quarter valued at approximately $28,000. Davis Capital Management bought a new stake in Micron Technology during the third quarter worth approximately $30,000. True Wealth Design LLC grew its position in Micron Technology by 1,096.3% in the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after buying an additional 296 shares during the last quarter. Finally, Richard W. Paul & Associates LLC increased its holdings in shares of Micron Technology by 128.6% in the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 144 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. BNP Paribas lowered Micron Technology from an “outperform” rating to an “underperform” rating and cut their target price for the stock from $140.00 to $67.00 in a research report on Thursday, September 12th. TD Cowen boosted their price objective on Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Wedbush reiterated an “outperform” rating and issued a $140.00 target price on shares of Micron Technology in a report on Thursday, September 26th. Stifel Nicolaus dropped their target price on shares of Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, September 19th. Finally, Citigroup reduced their price target on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. 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 company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $143.04.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 4,890 shares of the company’s 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 completion of the transaction, the executive vice president now directly owns 135,830 shares in the company, valued at approximately $15,348,790. This represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.32% of the stock is currently owned by insiders.

Micron Technology Trading Down 0.3 %

Shares of MU stock opened at $97.95 on Friday. Micron Technology, Inc. has a 12 month low of $72.93 and a 12 month high of $157.54. The company has a market cap of $109.12 billion, a PE ratio of 144.05 and a beta of 1.18. 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 business’s 50 day moving average is $103.60 and its two-hundred day moving average is $111.44.

Micron Technology (NASDAQ:MU) last posted 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 business had revenue of $7.75 billion for 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%. Micron Technology’s revenue was up 93.3% compared to the same quarter last year. During the same period last year, the business posted ($1.21) EPS. Equities analysts predict that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders 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 annualized dividend and a dividend yield of 0.47%. 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.