Clearwater Capital Advisors LLC Sells 300 Shares of Micron Technology, Inc. (NASDAQ:MU)

Clearwater Capital Advisors LLC cut its stake in Micron Technology, Inc. (NASDAQ:MU) by 15.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,599 shares of the semiconductor manufacturer’s stock after selling 300 shares during the quarter. Clearwater Capital Advisors LLC’s holdings in Micron Technology were worth $210,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Hobbs Group Advisors LLC bought a new position in shares of Micron Technology during the 2nd quarter worth approximately $28,000. DecisionPoint Financial LLC purchased a new stake in shares of Micron Technology during the 1st quarter valued at $25,000. Valued Wealth Advisors LLC grew its position in Micron Technology by 230.7% during the first quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock valued at $29,000 after buying an additional 173 shares during the period. Richard W. Paul & Associates LLC increased its holdings in Micron Technology by 128.6% during the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 144 shares during the last quarter. Finally, LRI Investments LLC raised its position in Micron Technology by 57.2% in the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after acquiring an additional 99 shares during the period. Institutional investors own 80.84% of the company’s stock.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $135.86, for a total transaction of $664,355.40. Following the transaction, the executive vice president now directly owns 142,321 shares of the company’s stock, valued at approximately $19,335,731.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Sanjay Mehrotra sold 34,284 shares of Micron Technology stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $152.28, for a total transaction of $5,220,767.52. Following the sale, the chief executive officer now directly owns 719,049 shares in the company, valued at $109,496,781.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $135.86, for a total value of $664,355.40. Following the completion of the sale, the executive vice president now directly owns 142,321 shares in the company, valued at $19,335,731.06. The disclosure for this sale can be found here. Insiders sold 46,174 shares of company stock valued at $6,827,113 over the last quarter. 0.32% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Piper Sandler increased their target price on shares of Micron Technology from $130.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. Barclays boosted their price objective on Micron Technology from $120.00 to $145.00 and gave the company an “overweight” rating in a research note on Monday, May 13th. Bank of America lifted their target price on shares of Micron Technology from $144.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, June 17th. Rosenblatt Securities restated a “buy” rating and set a $225.00 price target on shares of Micron Technology in a research note on Tuesday, June 25th. Finally, Mizuho lifted their price objective on shares of Micron Technology from $150.00 to $155.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Two analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat, Micron Technology has a consensus rating of “Moderate Buy” and a consensus price target of $157.12.

Micron Technology Trading Down 3.4 %

Shares of NASDAQ:MU traded down $3.01 during trading on Friday, reaching $86.38. 23,388,281 shares of the company traded hands, compared to its average volume of 21,325,547. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a 52-week low of $63.83 and a 52-week high of $157.54. The firm has a market capitalization of $95.78 billion, a price-to-earnings ratio of -60.83 and a beta of 1.17. The business’s fifty day moving average is $108.72 and its 200-day moving average is $114.80.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.14. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The business had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $6.67 billion. During the same quarter in the prior year, the company posted ($1.57) EPS. The firm’s revenue for the quarter was up 81.5% compared to the same quarter last year. As a group, analysts forecast that Micron Technology, Inc. will post 0.58 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 23rd. Investors of record on Monday, July 8th were issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, July 8th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.53%. Micron Technology’s dividend payout ratio is presently -32.39%.

Micron Technology 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.