Paladin Advisory Group LLC Cuts Holdings in Micron Technology, Inc. (NASDAQ:MU)

Paladin Advisory Group LLC trimmed its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 5.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,342 shares of the semiconductor manufacturer’s stock after selling 261 shares during the quarter. Paladin Advisory Group LLC’s holdings in Micron Technology were worth $371,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of MU. Sei Investments Co. increased its holdings in Micron Technology by 12.8% during the first quarter. Sei Investments Co. now owns 350,644 shares of the semiconductor manufacturer’s stock valued at $27,314,000 after buying an additional 39,693 shares during the period. Prudential PLC purchased a new position in Micron Technology in the first quarter worth $1,672,000. Brighton Jones LLC grew its holdings in Micron Technology by 12.3% in the first quarter. Brighton Jones LLC now owns 2,909 shares of the semiconductor manufacturer’s stock worth $227,000 after purchasing an additional 318 shares during the last quarter. Baird Financial Group Inc. grew its holdings in Micron Technology by 9.2% in the first quarter. Baird Financial Group Inc. now owns 200,423 shares of the semiconductor manufacturer’s stock worth $15,611,000 after purchasing an additional 16,953 shares during the last quarter. Finally, Zions Bancorporation N.A. grew its holdings in Micron Technology by 52.5% in the first quarter. Zions Bancorporation N.A. now owns 2,121 shares of the semiconductor manufacturer’s stock worth $165,000 after purchasing an additional 730 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Evercore ISI lifted their price target on shares of Micron Technology from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, December 21st. Stifel Nicolaus reiterated a “buy” rating and set a $140.00 price objective on shares of Micron Technology in a research note on Friday, April 12th. JPMorgan Chase & Co. boosted their target price on shares of Micron Technology from $105.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. Fox Advisors upgraded shares of Micron Technology from an “equal weight” rating to an “overweight” rating in a research report on Thursday, March 21st. Finally, Bank of America boosted their target price on shares of Micron Technology from $120.00 to $144.00 and gave the company a “buy” rating in a research report on Monday, April 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $122.20.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 45,000 shares of the business’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $130.00, for a total value of $5,850,000.00. Following the transaction, the chief executive officer now directly owns 728,557 shares in the company, valued at approximately $94,712,410. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Sanjay Mehrotra sold 45,000 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $130.00, for a total value of $5,850,000.00. Following the transaction, the chief executive officer now directly owns 728,557 shares in the company, valued at approximately $94,712,410. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total transaction of $583,377.00. Following the completion of the transaction, the executive vice president now owns 148,817 shares in the company, valued at $17,753,868.10. The disclosure for this sale can be found here. Insiders have sold 313,890 shares of company stock worth $33,617,027 in the last ninety days. 0.32% of the stock is owned by insiders.

Micron Technology Price Performance

NASDAQ MU traded down $5.16 during trading hours on Friday, hitting $106.77. 33,747,831 shares of the company’s stock traded hands, compared to its average volume of 20,635,740. Micron Technology, Inc. has a 52-week low of $58.03 and a 52-week high of $130.54. The company has a market capitalization of $118.23 billion, a PE ratio of -30.95 and a beta of 1.27. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. The firm’s 50-day moving average is $102.53 and its 200-day moving average is $86.40.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.69. The company had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. Micron Technology’s revenue was up 57.7% on a year-over-year basis. During the same period in the previous year, the business posted ($2.03) EPS. Equities analysts forecast that Micron Technology, Inc. will post 0.24 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were issued a $0.115 dividend. The ex-dividend date was Thursday, March 28th. This represents a $0.46 annualized dividend and a yield of 0.43%. Micron Technology’s payout ratio is -13.33%.

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.