Octavia Wealth Advisors LLC Sells 377 Shares of Micron Technology, Inc. (NASDAQ:MU)

Octavia Wealth Advisors LLC lessened its position in Micron Technology, Inc. (NASDAQ:MU) by 2.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,708 shares of the semiconductor manufacturer’s stock after selling 377 shares during the period. Octavia Wealth Advisors LLC’s holdings in Micron Technology were worth $1,257,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its position in Micron Technology by 411.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,274,070 shares of the semiconductor manufacturer’s stock valued at $763,398,000 after purchasing an additional 12,286,893 shares in the last quarter. Norges Bank bought a new position in shares of Micron Technology in the fourth quarter worth about $581,559,000. FMR LLC grew its holdings in Micron Technology by 47.9% during the 3rd quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer’s stock valued at $1,489,801,000 after buying an additional 7,089,790 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Micron Technology by 59.2% in the fourth quarter. Morgan Stanley now owns 14,185,790 shares of the semiconductor manufacturer’s stock worth $709,006,000 after buying an additional 5,274,984 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Micron Technology by 43.4% during the third quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock worth $1,182,608,000 after acquiring an additional 5,257,201 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

Micron Technology Price Performance

MU stock traded down $0.41 during mid-day trading on Tuesday, reaching $120.96. 11,021,677 shares of the company’s stock were exchanged, compared to its average volume of 20,131,871. The company has a market cap of $133.95 billion, a price-to-earnings ratio of -34.85 and a beta of 1.27. Micron Technology, Inc. has a 12-month low of $58.03 and a 12-month high of $130.54. The stock’s 50 day moving average is $100.62 and its 200 day moving average is $85.63. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40.

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

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st will be issued a dividend of $0.115 per share. The ex-dividend date is Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.38%. Micron Technology’s payout ratio is currently -13.33%.

Analyst Ratings Changes

MU has been the topic of several recent research reports. Evercore ISI boosted their price objective on Micron Technology from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, December 21st. Bank of America upped their target price on shares of Micron Technology from $120.00 to $144.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Morgan Stanley boosted their price target on Micron Technology from $78.00 to $98.00 and gave the company an “underweight” rating in a report on Thursday, March 21st. Argus upgraded shares of Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a report on Thursday, March 21st. Finally, Wells Fargo & Company boosted their price objective on shares of Micron Technology from $125.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $122.20.

Insider Activity

In related news, CEO Sanjay Mehrotra sold 45,000 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $130.00, for a total transaction of $5,850,000.00. Following the completion of the sale, the chief executive officer now directly owns 728,557 shares in the company, valued at $94,712,410. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Sanjay Mehrotra sold 45,000 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $130.00, for a total transaction 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 legal filing with the SEC, which is available at the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total value of $583,377.00. Following the transaction, the executive vice president now owns 148,817 shares in the company, valued at approximately $17,753,868.10. The disclosure for this sale can be found here. Insiders have sold a total of 313,890 shares of company stock worth $33,354,527 over the last quarter. 0.32% of the stock is currently owned by corporate insiders.

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.