Veracity Capital LLC Sells 4,757 Shares of Micron Technology, Inc. (NASDAQ:MU)

Veracity Capital LLC lessened its holdings in Micron Technology, Inc. (NASDAQ:MU) by 65.3% during the 4th quarter, Holdings Channel reports. The firm owned 2,528 shares of the semiconductor manufacturer’s stock after selling 4,757 shares during the period. Veracity Capital LLC’s holdings in Micron Technology were worth $213,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of MU. Stonebrook Private Inc. boosted its position in shares of Micron Technology by 4.2% during the third quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock worth $255,000 after purchasing an additional 98 shares in the last quarter. John G Ullman & Associates Inc. lifted its holdings in shares of Micron Technology by 2.5% during the 3rd quarter. John G Ullman & Associates Inc. now owns 4,063 shares of the semiconductor manufacturer’s stock valued at $421,000 after purchasing an additional 100 shares in the last quarter. Trivant Custom Portfolio Group LLC grew its position in shares of Micron Technology by 20.0% in the 4th quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer’s stock valued at $50,000 after purchasing an additional 100 shares during the period. Trust Co. of Vermont increased its stake in Micron Technology by 14.3% during the 3rd quarter. Trust Co. of Vermont now owns 821 shares of the semiconductor manufacturer’s stock worth $85,000 after purchasing an additional 103 shares in the last quarter. Finally, PDS Planning Inc raised its holdings in Micron Technology by 2.4% during the 3rd quarter. PDS Planning Inc now owns 4,382 shares of the semiconductor manufacturer’s stock worth $454,000 after buying an additional 104 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Trading Down 1.6 %

Shares of Micron Technology stock opened at $103.19 on Friday. Micron Technology, Inc. has a 1 year low of $79.15 and a 1 year high of $157.54. The company has a market capitalization of $114.97 billion, a price-to-earnings ratio of 29.74 and a beta of 1.18. The business has a fifty day simple moving average of $98.22 and a two-hundred day simple moving average of $101.72. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, topping the consensus estimate of $1.60 by $0.19. The business had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. Micron Technology’s revenue was up 84.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.95) EPS. Research analysts forecast that Micron Technology, Inc. will post 6.29 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were paid a dividend of $0.115 per share. The ex-dividend date was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.45%. Micron Technology’s dividend payout ratio (DPR) is currently 13.26%.

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 dated Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the sale, the executive vice president now owns 181,223 shares of the company’s stock, valued at $15,442,011.83. The trade was a 2.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Morgan Stanley reduced their price target on shares of Micron Technology from $114.00 to $98.00 and set an “equal weight” rating for the company in a report on Thursday, December 19th. Stifel Nicolaus lowered their target price on Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, December 19th. The Goldman Sachs Group cut their price target on Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. KeyCorp dropped their target price on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 8th. Finally, Barclays reduced their price target on Micron Technology from $145.00 to $110.00 and set an “overweight” rating for the company in a research report on Friday, December 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $135.24.

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.