Black Swift Group LLC Sells 27,350 Shares of Micron Technology, Inc. (NASDAQ:MU)

Black Swift Group LLC decreased its holdings in Micron Technology, Inc. (NASDAQ:MU) by 91.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,700 shares of the semiconductor manufacturer’s stock after selling 27,350 shares during the period. Black Swift Group LLC’s holdings in Micron Technology were worth $280,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the stock. TBH Global Asset Management LLC purchased a new stake in shares of Micron Technology during the 1st quarter worth $296,000. Beacon Investment Advisory Services Inc. boosted its position in Micron Technology by 2.6% in the first quarter. Beacon Investment Advisory Services Inc. now owns 5,081 shares of the semiconductor manufacturer’s stock valued at $599,000 after buying an additional 130 shares during the last quarter. Nwam LLC increased its stake in shares of Micron Technology by 50.0% in the first quarter. Nwam LLC now owns 9,604 shares of the semiconductor manufacturer’s stock worth $1,144,000 after acquiring an additional 3,202 shares during the period. Banco Santander S.A. lifted its holdings in shares of Micron Technology by 96.2% in the 1st quarter. Banco Santander S.A. now owns 94,799 shares of the semiconductor manufacturer’s stock valued at $11,176,000 after buying an additional 46,488 shares during the period. Finally, M&G Plc purchased a new stake in Micron Technology in the 1st quarter worth approximately $15,172,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Price Performance

Shares of NASDAQ:MU traded up $1.36 on Thursday, reaching $101.28. 944,818 shares of the company were exchanged, compared to its average volume of 21,613,752. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a 1-year low of $72.93 and a 1-year high of $157.54. The company has a 50-day moving average of $100.93 and a 200-day moving average of $112.94. The firm has a market cap of $112.29 billion, a price-to-earnings ratio of 146.94 and a beta of 1.18.

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

Micron Technology Dividend Announcement

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

Insider Activity

In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the transaction, the executive vice president now directly owns 135,830 shares in the company, valued at $15,348,790. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on MU. Robert W. Baird lowered their price target on Micron Technology from $172.00 to $150.00 and set an “outperform” rating on the stock in a research report on Friday, September 27th. Morgan Stanley lifted their price objective on Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. Raymond James lifted their price target on shares of Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. China Renaissance started coverage on shares of Micron Technology in a report on Monday, October 28th. They issued a “buy” rating and a $148.00 target price for the company. Finally, Susquehanna reduced their price objective on Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a research note on Thursday, September 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.04.

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.