Quent Capital LLC Reduces Stock Position in Micron Technology, Inc. $MU

Quent Capital LLC cut its stake in Micron Technology, Inc. (NASDAQ:MU) by 6.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,081 shares of the semiconductor manufacturer’s stock after selling 267 shares during the period. Quent Capital LLC’s holdings in Micron Technology were worth $503,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. 111 Capital grew its position in shares of Micron Technology by 160.4% in the second quarter. 111 Capital now owns 31,179 shares of the semiconductor manufacturer’s stock valued at $3,843,000 after purchasing an additional 19,205 shares in the last quarter. QRG Capital Management Inc. grew its position in Micron Technology by 8.0% in the second quarter. QRG Capital Management Inc. now owns 216,912 shares of the semiconductor manufacturer’s stock worth $26,734,000 after acquiring an additional 16,007 shares during the period. ZWJ Investment Counsel Inc. grew its position in Micron Technology by 9.4% in the second quarter. ZWJ Investment Counsel Inc. now owns 466,667 shares of the semiconductor manufacturer’s stock worth $57,517,000 after acquiring an additional 40,018 shares during the period. Wallington Asset Management LLC grew its position in Micron Technology by 1.5% in the second quarter. Wallington Asset Management LLC now owns 42,214 shares of the semiconductor manufacturer’s stock worth $5,203,000 after acquiring an additional 606 shares during the period. Finally, Corundum Group Inc. purchased a new position in Micron Technology in the second quarter worth approximately $232,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on MU. Cantor Fitzgerald increased their price objective on Micron Technology from $185.00 to $200.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 24th. Robert W. Baird increased their price objective on Micron Technology from $163.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, June 27th. Mizuho increased their price objective on Micron Technology from $182.00 to $195.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 24th. Barclays increased their price objective on Micron Technology from $140.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, September 19th. Finally, Wells Fargo & Company increased their price objective on Micron Technology from $170.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 24th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $184.77.

Micron Technology Trading Up 2.2%

MU opened at $187.83 on Friday. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $191.85. The business has a fifty day simple moving average of $134.89 and a 200-day simple moving average of $110.76. The firm has a market cap of $210.20 billion, a P/E ratio of 24.75, a P/E/G ratio of 0.41 and a beta of 1.56. The company has a quick ratio of 1.79, a current ratio of 2.52 and a debt-to-equity ratio of 0.26.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Stockholders of record on Friday, October 3rd will be paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Friday, October 3rd. Micron Technology’s dividend payout ratio (DPR) is presently 6.06%.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $164.04, for a total value of $2,460,600.00. Following the sale, the executive vice president directly owned 131,580 shares in the company, valued at approximately $21,584,383.20. This trade represents a 10.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sanjay Mehrotra sold 15,000 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $180.86, for a total value of $2,712,900.00. Following the completion of the sale, the chief executive officer owned 310,148 shares in the company, valued at approximately $56,093,367.28. The trade was a 4.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 109,456 shares of company stock valued at $15,698,445 in the last three months. 0.30% of the stock is currently owned by 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.