Trust Point Inc. Sells 203 Shares of Micron Technology, Inc. (NASDAQ:MU)

Trust Point Inc. decreased its holdings in Micron Technology, Inc. (NASDAQ:MU) by 5.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,785 shares of the semiconductor manufacturer’s stock after selling 203 shares during the period. Trust Point Inc.’s holdings in Micron Technology were worth $393,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Aaron Wealth Advisors LLC lifted its position in Micron Technology by 7.3% during the third quarter. Aaron Wealth Advisors LLC now owns 6,167 shares of the semiconductor manufacturer’s stock valued at $640,000 after purchasing an additional 420 shares during the period. Claro Advisors LLC lifted its holdings in shares of Micron Technology by 377.4% during the 3rd quarter. Claro Advisors LLC now owns 13,483 shares of the semiconductor manufacturer’s stock valued at $1,398,000 after buying an additional 10,659 shares during the period. V Square Quantitative Management LLC boosted its stake in shares of Micron Technology by 19.0% in the 3rd quarter. V Square Quantitative Management LLC now owns 17,550 shares of the semiconductor manufacturer’s stock worth $1,820,000 after buying an additional 2,808 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Micron Technology by 3.5% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 126,322 shares of the semiconductor manufacturer’s stock worth $13,101,000 after acquiring an additional 4,255 shares during the period. Finally, Marathon Asset Management Ltd increased its position in Micron Technology by 25.8% during the third quarter. Marathon Asset Management Ltd now owns 564,684 shares of the semiconductor manufacturer’s stock valued at $58,563,000 after acquiring an additional 115,695 shares during the last quarter. 80.84% of the stock is owned by institutional investors.

Insider Activity at Micron Technology

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 value of $552,570.00. Following the transaction, the executive vice president now directly owns 135,830 shares in the company, valued at approximately $15,348,790. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.32% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MU. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $150.00 price target on shares of Micron Technology in a research report on Tuesday, October 1st. The Goldman Sachs Group increased their price target on shares of Micron Technology from $138.00 to $158.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. JPMorgan Chase & Co. boosted their price objective on shares of Micron Technology from $130.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. Piper Sandler raised their target price on Micron Technology from $130.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Finally, KeyCorp lowered their price objective on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $142.85.

Micron Technology Stock Down 0.8 %

NASDAQ MU opened at $111.15 on Friday. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a 52 week low of $63.88 and a 52 week high of $157.54. The firm has a market capitalization of $123.25 billion, a price-to-earnings ratio of -78.27 and a beta of 1.18. The company has a fifty day moving average of $98.64 and a two-hundred day moving average of $114.48.

Micron Technology (NASDAQ:MU) last released its quarterly 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. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The firm had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.65 billion. During the same period in the previous year, the company earned ($1.21) EPS. The firm’s revenue for the quarter was up 93.3% compared to the same quarter last year. On average, analysts predict that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Monday, October 7th 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 0.41%. The ex-dividend date of this dividend is Monday, October 7th. Micron Technology’s dividend payout ratio is currently -32.39%.

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.