EP Wealth Advisors LLC Sells 10,682 Shares of Micron Technology, Inc. (NASDAQ:MU)

EP Wealth Advisors LLC trimmed its holdings in shares of Micron Technology, Inc. (NASDAQ:MU – Get Rating) by 45.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,768 shares of the semiconductor manufacturer’s stock after selling 10,682 shares during the quarter. EP Wealth Advisors LLC’s holdings in Micron Technology were worth $640,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Bridgefront Capital LLC grew its position in Micron Technology by 32.8% during the third quarter. Bridgefront Capital LLC now owns 8,863 shares of the semiconductor manufacturer’s stock valued at $444,000 after buying an additional 2,187 shares during the period. Continental Investors Services Inc. bought a new position in shares of Micron Technology in the third quarter worth approximately $557,000. CVA Family Office LLC boosted its position in shares of Micron Technology by 881.3% in the third quarter. CVA Family Office LLC now owns 1,570 shares of the semiconductor manufacturer’s stock worth $79,000 after purchasing an additional 1,410 shares during the period. IHT Wealth Management LLC boosted its position in shares of Micron Technology by 28.1% in the third quarter. IHT Wealth Management LLC now owns 15,470 shares of the semiconductor manufacturer’s stock worth $775,000 after purchasing an additional 3,393 shares during the period. Finally, B. Riley Wealth Advisors Inc. boosted its position in shares of Micron Technology by 47.5% in the third quarter. B. Riley Wealth Advisors Inc. now owns 37,497 shares of the semiconductor manufacturer’s stock worth $1,879,000 after purchasing an additional 12,069 shares during the period. 78.02% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Scott J. Deboer sold 20,000 shares of the firm’s stock in a transaction dated Thursday, January 26th. The shares were sold at an average price of $62.23, for a total value of $1,244,600.00. Following the sale, the executive vice president now directly owns 248,340 shares in the company, valued at approximately $15,454,198.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP April S. Arnzen sold 24,000 shares of the stock in a transaction that occurred on Monday, January 30th. The shares were sold at an average price of $61.91, for a total value of $1,485,840.00. Following the completion of the transaction, the senior vice president now directly owns 118,885 shares of the company’s stock, valued at approximately $7,360,170.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Scott J. Deboer sold 20,000 shares of the stock in a transaction that occurred on Thursday, January 26th. The shares were sold at an average price of $62.23, for a total transaction of $1,244,600.00. Following the completion of the transaction, the executive vice president now directly owns 248,340 shares of the company’s stock, valued at $15,454,198.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 67,000 shares of company stock worth $3,982,190. Corporate insiders own 0.33% of the company’s stock.

Micron Technology Stock Up 0.2 %

Shares of Micron Technology stock opened at $56.66 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.51 and a quick ratio of 2.23. Micron Technology, Inc. has a 1 year low of $48.43 and a 1 year high of $86.24. The firm’s 50-day moving average is $58.60 and its two-hundred day moving average is $55.78. The stock has a market cap of $61.83 billion, a price-to-earnings ratio of 10.28 and a beta of 1.39.

Micron Technology (NASDAQ:MU – Get Rating) last issued its earnings results on Wednesday, December 21st. The semiconductor manufacturer reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.02). Micron Technology had a return on equity of 13.26% and a net margin of 22.78%. The business had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.14 billion. During the same quarter in the previous year, the company earned $2.07 earnings per share. The firm’s revenue was down 46.9% on a year-over-year basis. As a group, research analysts expect that Micron Technology, Inc. will post -2.71 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 19th. Stockholders of record on Tuesday, January 3rd were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend was Friday, December 30th. Micron Technology’s dividend payout ratio is currently 8.35%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Stifel Nicolaus dropped their price target on shares of Micron Technology from $54.00 to $52.00 and set a “hold” rating for the company in a research report on Thursday, December 22nd. StockNews.com initiated coverage on shares of Micron Technology in a research report on Thursday. They issued a “hold” rating for the company. Argus downgraded shares of Micron Technology from a “buy” rating to a “hold” rating in a report on Friday, December 30th. Deutsche Bank Aktiengesellschaft downgraded shares of Micron Technology from a “buy” rating to a “hold” rating and lowered their target price for the stock from $60.00 to $55.00 in a report on Monday, December 12th. Finally, UBS Group lowered their target price on shares of Micron Technology from $75.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, December 22nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat, Micron Technology currently has an average rating of “Moderate Buy” and a consensus price target of $66.26.

Micron Technology Profile

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Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute & Networking Business Unit (CNBU), Mobile Business Unit (MBU), Storage Business Unit (SBU), and Embedded Business Unit (EBU). The CNBU segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.