Micron Technology, Inc. $MU Shares Sold by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC decreased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 67.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,203 shares of the semiconductor manufacturer’s stock after selling 43,594 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Micron Technology were worth $2,613,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MU. Brighton Jones LLC increased its position in Micron Technology by 18.3% during the 4th quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer’s stock worth $532,000 after purchasing an additional 976 shares during the period. Miracle Mile Advisors LLC grew its holdings in shares of Micron Technology by 36.7% in the 1st quarter. Miracle Mile Advisors LLC now owns 4,104 shares of the semiconductor manufacturer’s stock worth $357,000 after acquiring an additional 1,102 shares during the period. Park Avenue Securities LLC grew its holdings in shares of Micron Technology by 17.4% in the 1st quarter. Park Avenue Securities LLC now owns 30,191 shares of the semiconductor manufacturer’s stock worth $2,623,000 after acquiring an additional 4,480 shares during the period. Capital Investment Advisors LLC grew its holdings in shares of Micron Technology by 17.6% in the 1st quarter. Capital Investment Advisors LLC now owns 7,429 shares of the semiconductor manufacturer’s stock worth $645,000 after acquiring an additional 1,112 shares during the period. Finally, Moss Adams Wealth Advisors LLC grew its holdings in shares of Micron Technology by 12.9% in the 1st quarter. Moss Adams Wealth Advisors LLC now owns 3,609 shares of the semiconductor manufacturer’s stock worth $314,000 after acquiring an additional 413 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insiders Place Their Bets

In other Micron Technology 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 transaction of $2,460,600.00. Following the transaction, the executive vice president owned 131,580 shares of the company’s stock, valued at $21,584,383.20. This represents a 10.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Mark J. Murphy sold 34,000 shares of the stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $109.32, for a total value of $3,716,880.00. Following the transaction, the chief financial officer directly owned 264,036 shares in the company, valued at approximately $28,864,415.52. This represents a 11.41% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 146,956 shares of company stock worth $22,841,025. 0.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Robert W. Baird upped their price target on Micron Technology from $163.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, June 27th. Rosenblatt Securities upped their price target on Micron Technology from $200.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Citigroup upped their price target on Micron Technology from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Wells Fargo & Company upped their price target on Micron Technology from $170.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, September 24th. Finally, KeyCorp upped their price target on Micron Technology from $160.00 to $215.00 and gave the stock an “overweight” rating in a report on Wednesday, September 24th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $189.37.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $185.69 on Wednesday. The business’s fifty day moving average price is $137.96 and its two-hundred day moving average price is $112.01. The stock has a market cap of $208.43 billion, a PE ratio of 24.47, a price-to-earnings-growth ratio of 0.42 and a beta of 1.56. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.79 and a current ratio of 2.52. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $201.00.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Shareholders of record on Friday, October 3rd will be paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, October 3rd. Micron Technology’s dividend payout ratio is currently 6.06%.

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.