Guyasuta Investment Advisors Inc. Sells 170,105 Shares of Micron Technology, Inc. $MU

Guyasuta Investment Advisors Inc. reduced its position in Micron Technology, Inc. (NASDAQ:MU) by 96.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,683 shares of the semiconductor manufacturer’s stock after selling 170,105 shares during the quarter. Guyasuta Investment Advisors Inc.’s holdings in Micron Technology were worth $824,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Nuveen LLC bought a new position in Micron Technology in the 1st quarter valued at approximately $369,191,000. Vanguard Group Inc. boosted its holdings in shares of Micron Technology by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 101,906,368 shares of the semiconductor manufacturer’s stock valued at $8,854,644,000 after purchasing an additional 2,049,163 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Micron Technology by 23.8% in the first quarter. Goldman Sachs Group Inc. now owns 10,616,488 shares of the semiconductor manufacturer’s stock worth $922,467,000 after purchasing an additional 2,038,641 shares during the last quarter. GAMMA Investing LLC lifted its stake in Micron Technology by 10,369.6% in the first quarter. GAMMA Investing LLC now owns 1,873,435 shares of the semiconductor manufacturer’s stock worth $162,783,000 after purchasing an additional 1,855,541 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Micron Technology by 26.3% during the first quarter. Dimensional Fund Advisors LP now owns 6,800,052 shares of the semiconductor manufacturer’s stock worth $590,807,000 after acquiring an additional 1,416,174 shares during the period. Institutional investors own 80.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on MU shares. Barclays boosted their target price on shares of Micron Technology from $140.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, September 19th. Piper Sandler increased their target price on shares of Micron Technology from $165.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday. TD Cowen lifted their target price on shares of Micron Technology from $150.00 to $180.00 and gave the company a “buy” rating in a report on Friday, September 19th. Arete Research upgraded shares of Micron Technology to a “strong-buy” rating in a research report on Friday, July 18th. Finally, Morgan Stanley increased their target price on Micron Technology from $135.00 to $160.00 and gave the stock an “equal weight” rating in a research report on Monday, September 22nd. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $184.77.

Micron Technology Stock Performance

NASDAQ MU opened at $157.27 on Friday. The firm has a market capitalization of $176.00 billion, a price-to-earnings ratio of 20.72, a P/E/G ratio of 0.40 and a beta of 1.47. The company has a current ratio of 2.52, a quick ratio of 1.89 and a debt-to-equity ratio of 0.26. The firm’s 50 day simple moving average is $128.30 and its 200 day simple moving average is $108.11. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $170.45.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.34. Micron Technology had a net margin of 22.84% and a return on equity of 17.21%. The firm had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $8.83 billion. During the same quarter last year, the firm earned $0.62 earnings per share. As a group, research analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Friday, October 3rd 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 0.3%. The ex-dividend date is Friday, October 3rd. Micron Technology’s dividend payout ratio is presently 6.06%.

Insider Buying and Selling at Micron Technology

In related news, EVP Manish H. Bhatia sold 80,000 shares of the company’s stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $123.16, for a total transaction of $9,852,800.00. Following the sale, the executive vice president owned 275,067 shares of the company’s stock, valued at approximately $33,877,251.72. This represents a 22.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $115.67, for a total transaction of $278,070.68. Following the completion of the sale, the director directly owned 20,146 shares in the company, valued at approximately $2,330,287.82. This trade represents a 10.66% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 156,308 shares of company stock valued at $19,804,967. 0.30% of the stock is 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.