Summit Trail Advisors LLC Sells 1,779 Shares of Micron Technology, Inc. (NASDAQ:MU)

Summit Trail Advisors LLC lessened its position in Micron Technology, Inc. (NASDAQ:MU) by 12.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,996 shares of the semiconductor manufacturer’s stock after selling 1,779 shares during the quarter. Summit Trail Advisors LLC’s holdings in Micron Technology were worth $1,025,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Sandy Spring Bank lifted its position in shares of Micron Technology by 11.1% during the fourth quarter. Sandy Spring Bank now owns 1,305 shares of the semiconductor manufacturer’s stock worth $111,000 after purchasing an additional 130 shares in the last quarter. HMS Capital Management LLC raised its holdings in Micron Technology by 0.7% in the fourth quarter. HMS Capital Management LLC now owns 19,842 shares of the semiconductor manufacturer’s stock valued at $1,693,000 after acquiring an additional 138 shares in the last quarter. Huntington National Bank raised its holdings in Micron Technology by 6.0% in the third quarter. Huntington National Bank now owns 2,652 shares of the semiconductor manufacturer’s stock valued at $180,000 after acquiring an additional 149 shares in the last quarter. Allworth Financial LP raised its holdings in Micron Technology by 3.0% in the fourth quarter. Allworth Financial LP now owns 5,125 shares of the semiconductor manufacturer’s stock valued at $437,000 after acquiring an additional 150 shares in the last quarter. Finally, Homestead Advisers Corp raised its holdings in Micron Technology by 12.5% in the third quarter. Homestead Advisers Corp now owns 1,372 shares of the semiconductor manufacturer’s stock valued at $93,000 after acquiring an additional 152 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Michael W. Bokan sold 15,000 shares of the company’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $115.55, for a total transaction of $1,733,250.00. Following the transaction, the senior vice president now owns 153,387 shares of the company’s stock, valued at $17,723,867.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Michael W. Bokan sold 15,000 shares of the company’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $115.55, for a total value of $1,733,250.00. Following the completion of the sale, the senior vice president now owns 153,387 shares in the company, valued at $17,723,867.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sanjay Mehrotra sold 45,000 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $130.00, for a total value of $5,850,000.00. Following the completion of the sale, the chief executive officer now owns 728,557 shares of the company’s stock, valued at approximately $94,712,410. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 323,890 shares of company stock valued at $36,079,267. 0.32% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

MU has been the topic of a number of recent research reports. Raymond James lifted their target price on shares of Micron Technology from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, January 19th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $140.00 target price on shares of Micron Technology in a report on Monday, March 18th. KeyCorp lifted their target price on shares of Micron Technology from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Bank of America lifted their target price on shares of Micron Technology from $120.00 to $144.00 and gave the company a “buy” rating in a report on Monday, April 1st. Finally, TD Cowen boosted their price objective on shares of Micron Technology from $120.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, March 21st. One analyst has rated the stock with a sell rating, one has given a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $123.60.

Micron Technology Stock Up 4.7 %

Shares of Micron Technology stock traded up $5.43 during trading on Monday, hitting $120.13. 22,115,618 shares of the stock traded hands, compared to its average volume of 20,287,666. The stock has a market cap of $132.62 billion, a P/E ratio of -34.65 and a beta of 1.27. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74. Micron Technology, Inc. has a twelve month low of $59.55 and a twelve month high of $130.54. The company has a fifty day moving average price of $108.95 and a two-hundred day moving average price of $89.96.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The business had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same period in the previous year, the company earned ($2.03) EPS. The firm’s revenue was up 57.7% on a year-over-year basis. Equities research analysts predict that Micron Technology, Inc. will post 0.24 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend was Thursday, March 28th. Micron Technology’s dividend payout ratio is currently -13.33%.

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.