Caprock Group LLC Sells 205 Shares of Micron Technology, Inc. (NASDAQ:MU)

Caprock Group LLC reduced its stake in Micron Technology, Inc. (NASDAQ:MU) by 0.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,653 shares of the semiconductor manufacturer’s stock after selling 205 shares during the quarter. Caprock Group LLC’s holdings in Micron Technology were worth $3,698,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Highline Wealth Partners LLC bought a new position in shares of Micron Technology during the 3rd quarter worth approximately $26,000. Hobbs Group Advisors LLC bought a new stake in Micron Technology in the 2nd quarter worth about $28,000. Davis Capital Management bought a new position in shares of Micron Technology in the third quarter valued at approximately $30,000. Richard W. Paul & Associates LLC increased its position in shares of Micron Technology by 128.6% during the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 144 shares during the last quarter. Finally, DT Investment Partners LLC increased its holdings in Micron Technology by 261.1% during the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 235 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the sale, the executive vice president now owns 135,830 shares of the company’s stock, valued at $15,348,790. This represents a 3.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.32% of the stock is owned by corporate insiders.

Micron Technology Stock Performance

Shares of MU stock opened at $97.73 on Wednesday. Micron Technology, Inc. has a 12 month low of $72.93 and a 12 month high of $157.54. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. The company’s fifty day moving average price is $101.77 and its 200-day moving average price is $112.52. The stock has a market cap of $108.36 billion, a PE ratio of 143.72 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. The firm had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The company’s quarterly revenue was up 93.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.21) earnings per share. On average, equities analysts expect that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were paid a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.46 annualized dividend and a yield of 0.47%. Micron Technology’s dividend payout ratio is 67.65%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MU. Wells Fargo & Company lowered their target price 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. Wedbush reaffirmed an “outperform” rating and set a $140.00 target price on shares of Micron Technology in a report on Thursday, September 26th. KeyCorp lowered their price target on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 8th. TD Cowen lifted their price objective on shares of Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Susquehanna dropped their target price on Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a research report on Thursday, September 26th. 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $143.04.

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.