Congress Wealth Management LLC DE Sells 174 Shares of Micron Technology, Inc. (NASDAQ:MU)

Congress Wealth Management LLC DE reduced its position in Micron Technology, Inc. (NASDAQ:MUGet Rating) by 0.7% during the second quarter, Holdings Channel reports. The institutional investor owned 24,182 shares of the semiconductor manufacturer’s stock after selling 174 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Micron Technology were worth $1,336,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of MU. Vanguard Group Inc. raised its position in Micron Technology by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 90,507,938 shares of the semiconductor manufacturer’s stock worth $7,049,663,000 after buying an additional 1,037,418 shares during the last quarter. Sanders Capital LLC increased its holdings in shares of Micron Technology by 1.6% during the 1st quarter. Sanders Capital LLC now owns 41,921,490 shares of the semiconductor manufacturer’s stock valued at $3,551,295,000 after purchasing an additional 646,950 shares in the last quarter. Capital World Investors increased its holdings in shares of Micron Technology by 28.8% during the 1st quarter. Capital World Investors now owns 35,314,215 shares of the semiconductor manufacturer’s stock valued at $2,750,624,000 after purchasing an additional 7,894,757 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of Micron Technology by 28.6% during the 1st quarter. Capital Research Global Investors now owns 33,193,160 shares of the semiconductor manufacturer’s stock valued at $2,585,436,000 after purchasing an additional 7,380,205 shares in the last quarter. Finally, Capital International Investors grew its stake in Micron Technology by 6.0% in the 1st quarter. Capital International Investors now owns 23,268,745 shares of the semiconductor manufacturer’s stock valued at $1,812,421,000 after acquiring an additional 1,315,782 shares during the period. 79.66% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Trading Up 0.5 %

NASDAQ:MU opened at $58.93 on Thursday. The stock has a fifty day moving average price of $54.39 and a two-hundred day moving average price of $59.36. The stock has a market capitalization of $64.07 billion, a price-to-earnings ratio of 7.62 and a beta of 1.27. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.01 and a current ratio of 2.89. Micron Technology, Inc. has a 1 year low of $48.45 and a 1 year high of $98.45.

Micron Technology (NASDAQ:MUGet Rating) last released its quarterly earnings data on Thursday, September 29th. The semiconductor manufacturer reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.04. The firm had revenue of $6.64 billion during the quarter, compared to analysts’ expectations of $6.78 billion. Micron Technology had a return on equity of 18.75% and a net margin of 28.24%. Micron Technology’s revenue was down 19.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.37 earnings per share. As a group, sell-side analysts anticipate that Micron Technology, Inc. will post -0.39 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 26th. Shareholders of record on Tuesday, October 11th were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.78%. The ex-dividend date was Friday, October 7th. Micron Technology’s dividend payout ratio (DPR) is 5.95%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Wells Fargo & Company lowered their target price on shares of Micron Technology from $90.00 to $75.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 21st. Wedbush reduced their price target on Micron Technology from $85.00 to $65.00 and set an “outperform” rating on the stock in a report on Monday, September 26th. Bank of America reduced their price objective on shares of Micron Technology from $62.00 to $58.00 and set a “neutral” rating on the stock in a report on Friday, September 30th. Raymond James lowered shares of Micron Technology from a “strong-buy” rating to an “outperform” rating and cut their price target for the stock from $72.00 to $65.00 in a research note on Tuesday, August 9th. Finally, The Goldman Sachs Group cut their price target on shares of Micron Technology to $62.00 in a research note on Wednesday, October 5th. Two analysts have rated the stock with a sell rating, five have given a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Micron Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.97.

About Micron Technology

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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 comprises DRAM products, which are dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; NAND products that are non-volatile and re-writeable semiconductor storage devices; and NOR memory products, which are non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.

See Also

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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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