Main Management ETF Advisors LLC Reduces Stake in Micron Technology, Inc. (NASDAQ:MU)

Main Management ETF Advisors LLC lessened its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 8.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,360 shares of the semiconductor manufacturer’s stock after selling 1,920 shares during the period. Main Management ETF Advisors LLC’s holdings in Micron Technology were worth $1,798,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Beacon Capital Management LLC raised its position in Micron Technology by 114.9% in the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after purchasing an additional 200 shares during the period. Midwest Capital Advisors LLC acquired a new stake in shares of Micron Technology during the 4th quarter worth about $33,000. Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Micron Technology during the 4th quarter worth about $34,000. Curio Wealth LLC purchased a new stake in Micron Technology in the 4th quarter valued at about $34,000. Finally, Activest Wealth Management lifted its position in Micron Technology by 583.3% in the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 350 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. China Renaissance cut shares of Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 price target for the company. in a research report on Wednesday, March 26th. Rosenblatt Securities lowered their price objective on shares of Micron Technology from $250.00 to $200.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Royal Bank of Canada set a $125.00 target price on shares of Micron Technology in a report on Wednesday, March 19th. Wedbush restated an “underperform” rating on shares of Micron Technology in a research note on Monday, April 28th. Finally, UBS Group lowered their price target on Micron Technology from $130.00 to $92.00 and set a “buy” rating for the company in a research report on Monday, April 28th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Micron Technology has an average rating of “Moderate Buy” and an average target price of $126.48.

Insider Buying and Selling at Micron Technology

In related news, EVP April S. Arnzen sold 15,000 shares of the business’s stock in a transaction dated 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 $15,847,482.42. The trade was a 8.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction that occurred 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 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 disclosure for this sale can be found here. Insiders have sold 19,808 shares of company stock worth $1,858,424 over the last three months. Insiders own 0.30% of the company’s stock.

Micron Technology Stock Performance

Shares of Micron Technology stock opened at $96.93 on Wednesday. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $157.54. The business has a 50-day simple moving average of $82.74 and a 200-day simple moving average of $92.81. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The company has a market cap of $108.33 billion, a PE ratio of 27.93 and a beta of 1.21.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. The company had revenue of $8.05 billion for the quarter, compared to analysts’ expectations of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. Micron Technology’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. On average, equities research analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology’s dividend payout ratio (DPR) is 11.03%.

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.