ORG Wealth Partners LLC Trims Stock Holdings in Micron Technology, Inc. $MU

ORG Wealth Partners LLC lowered its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 64.3% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 255 shares of the semiconductor manufacturer’s stock after selling 460 shares during the quarter. ORG Wealth Partners LLC’s holdings in Micron Technology were worth $31,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in MU. HMS Capital Management LLC lifted its holdings in shares of Micron Technology by 0.6% during the second quarter. HMS Capital Management LLC now owns 19,271 shares of the semiconductor manufacturer’s stock valued at $2,375,000 after purchasing an additional 107 shares during the last quarter. D.B. Root & Company LLC increased its position in Micron Technology by 3.7% during the first quarter. D.B. Root & Company LLC now owns 3,018 shares of the semiconductor manufacturer’s stock worth $262,000 after purchasing an additional 108 shares during the last quarter. Werlinich Asset Management LLC boosted its stake in shares of Micron Technology by 1.1% in the second quarter. Werlinich Asset Management LLC now owns 10,685 shares of the semiconductor manufacturer’s stock valued at $1,317,000 after purchasing an additional 115 shares during the period. Rise Advisors LLC raised its holdings in Micron Technology by 5.3% during the first quarter. Rise Advisors LLC now owns 2,373 shares of the semiconductor manufacturer’s stock worth $206,000 after purchasing an additional 120 shares in the last quarter. Finally, Orca Wealth Management LLC boosted its position in shares of Micron Technology by 1.5% during the 1st quarter. Orca Wealth Management LLC now owns 8,485 shares of the semiconductor manufacturer’s stock worth $737,000 after purchasing an additional 129 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP Manish H. Bhatia sold 80,000 shares of the business’s stock in a transaction on Monday, June 30th. The shares were sold at an average price of $123.16, for a total value of $9,852,800.00. Following the completion of the sale, the executive vice president directly owned 275,067 shares of the company’s stock, valued at $33,877,251.72. The trade was a 22.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sanjay Mehrotra sold 13,798 shares of the business’s stock in a transaction on Friday, September 19th. The shares were sold at an average price of $162.20, for a total transaction of $2,238,035.60. Following the sale, the chief executive officer owned 325,148 shares of the company’s stock, valued at approximately $52,739,005.60. This represents a 4.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 156,308 shares of company stock worth $19,804,967. 0.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Zacks Research raised shares of Micron Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 19th. Erste Group Bank initiated coverage on Micron Technology in a research report on Thursday, August 14th. They set a “buy” rating on the stock. Cantor Fitzgerald upped their price objective on Micron Technology from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday. Susquehanna increased their target price on Micron Technology from $160.00 to $200.00 and gave the stock a “positive” rating in a research note on Wednesday, September 17th. Finally, Rosenblatt Securities boosted their target price on Micron Technology from $200.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday. Four analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Micron Technology has a consensus rating of “Buy” and a consensus target price of $184.77.

Micron Technology Trading Up 0.3%

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

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.34. Micron Technology had a return on equity of 17.21% and a net margin of 22.84%.The business had revenue of $9.30 billion during the quarter, compared to analyst estimates of $8.83 billion. During the same period in the prior year, the company posted $0.62 EPS. As a group, sell-side analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Stockholders of record on Friday, October 3rd will be paid a dividend of $0.115 per share. The ex-dividend date is Friday, October 3rd. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.3%. Micron Technology’s dividend payout ratio is currently 6.06%.

About Micron Technology

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.