Avestar Capital LLC Sells 165 Shares of Micron Technology, Inc. (NASDAQ:MU)

Avestar Capital LLC reduced its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 2.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,888 shares of the semiconductor manufacturer’s stock after selling 165 shares during the quarter. Avestar Capital LLC’s holdings in Micron Technology were worth $714,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Atria Investments Inc lifted its position in Micron Technology by 0.3% during the first quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock worth $3,269,000 after acquiring an additional 93 shares during the last quarter. Aspect Partners LLC lifted its holdings in Micron Technology by 39.8% during the 2nd quarter. Aspect Partners LLC now owns 330 shares of the semiconductor manufacturer’s stock worth $43,000 after purchasing an additional 94 shares during the last quarter. Ameritas Advisory Services LLC boosted its stake in Micron Technology by 1.3% in the 2nd quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer’s stock valued at $1,003,000 after purchasing an additional 98 shares during the period. Stonebrook Private Inc. boosted its stake in Micron Technology by 4.2% in the 3rd quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock valued at $255,000 after purchasing an additional 98 shares during the period. Finally, LRI Investments LLC increased its position in Micron Technology by 57.2% during the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after buying an additional 99 shares during the period. 80.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley boosted their target price on shares of Micron Technology from $100.00 to $114.00 and gave the company an “equal weight” rating in a research report on Thursday, September 26th. Raymond James increased their target price on shares of Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Citigroup lowered their target price on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. Stifel Nicolaus reduced their price target on Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, September 19th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $150.00 price objective on shares of Micron Technology in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have issued a buy rating to the company. According to MarketBeat, Micron Technology currently has an average rating of “Moderate Buy” and an average target price of $143.04.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $101.80 on Wednesday. The firm has a market cap of $112.87 billion, a PE ratio of 149.71 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. Micron Technology, Inc. has a 52 week low of $72.93 and a 52 week high of $157.54. The firm’s fifty day moving average is $103.07 and its 200-day moving average is $111.90.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.21. The company had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The business’s quarterly revenue was up 93.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.21) earnings per share. Sell-side analysts predict that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were paid a $0.115 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.45%. Micron Technology’s dividend payout ratio (DPR) is presently 67.65%.

Insider Activity

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the transaction, the executive vice president now owns 135,830 shares in the company, valued at approximately $15,348,790. The trade was a 3.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.32% of the company’s stock.

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.