Cerity Partners LLC Has $8.33 Million Stake in Micron Technology, Inc. (NASDAQ:MU)

Cerity Partners LLC reduced its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 4.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 89,917 shares of the semiconductor manufacturer’s stock after selling 4,598 shares during the period. Cerity Partners LLC’s holdings in Micron Technology were worth $8,328,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Sunbelt Securities Inc. boosted its holdings in Micron Technology by 30.2% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,260 shares of the semiconductor manufacturer’s stock valued at $131,000 after purchasing an additional 292 shares during the period. Soltis Investment Advisors LLC boosted its stake in shares of Micron Technology by 6.1% in the third quarter. Soltis Investment Advisors LLC now owns 2,808 shares of the semiconductor manufacturer’s stock valued at $291,000 after buying an additional 161 shares during the period. SOA Wealth Advisors LLC. grew its position in Micron Technology by 37.6% during the third quarter. SOA Wealth Advisors LLC. now owns 1,189 shares of the semiconductor manufacturer’s stock worth $123,000 after buying an additional 325 shares in the last quarter. SkyView Investment Advisors LLC increased its stake in Micron Technology by 3.7% during the 3rd quarter. SkyView Investment Advisors LLC now owns 6,696 shares of the semiconductor manufacturer’s stock worth $694,000 after acquiring an additional 241 shares during the period. Finally, Pine Valley Investments Ltd Liability Co raised its holdings in Micron Technology by 524.2% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 14,863 shares of the semiconductor manufacturer’s stock valued at $1,541,000 after acquiring an additional 12,482 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors.

Insider Transactions at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the transaction, the director now owns 27,358 shares in the company, valued at approximately $2,542,378.94. This represents a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP April S. Arnzen sold 15,000 shares of the business’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the completion of the transaction, the executive vice president now owns 164,769 shares in the company, valued at approximately $15,847,482.42. The trade was a 8.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. JPMorgan Chase & Co. decreased their target price on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a report on Friday, March 21st. Barclays boosted their price objective on shares of Micron Technology from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. Piper Sandler reduced their target price on Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Needham & Company LLC lowered their price target on Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Finally, Morgan Stanley boosted their target price on Micron Technology from $91.00 to $112.00 and gave the stock an “equal weight” rating in a research note on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $129.36.

Micron Technology Trading Down 0.7 %

NASDAQ:MU opened at $69.55 on Friday. The firm has a fifty day simple moving average of $90.66 and a two-hundred day simple moving average of $97.09. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $157.54. The stock has a market capitalization of $77.73 billion, a price-to-earnings ratio of 20.04 and a beta of 1.18. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU) last issued its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. The company had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. Micron Technology’s revenue for the quarter was up 38.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.42 earnings per share. Analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date is Monday, March 31st. Micron Technology’s dividend payout ratio is 11.03%.

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.