Stratos Wealth Partners LTD. Decreases Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Stratos Wealth Partners LTD. reduced its position in Micron Technology, Inc. (NASDAQ:MU) by 23.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,199 shares of the semiconductor manufacturer’s stock after selling 4,544 shares during the period. Stratos Wealth Partners LTD.’s holdings in Micron Technology were worth $783,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Parkside Financial Bank & Trust raised its stake in Micron Technology by 15.6% during the 1st quarter. Parkside Financial Bank & Trust now owns 1,620 shares of the semiconductor manufacturer’s stock valued at $68,000 after buying an additional 219 shares during the last quarter. Glassman Wealth Services raised its stake in Micron Technology by 65.6% during the 1st quarter. Glassman Wealth Services now owns 593 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 235 shares during the last quarter. Lindbrook Capital LLC raised its stake in Micron Technology by 17.2% during the 1st quarter. Lindbrook Capital LLC now owns 1,638 shares of the semiconductor manufacturer’s stock valued at $69,000 after buying an additional 240 shares during the last quarter. Ausdal Financial Partners Inc. raised its stake in Micron Technology by 2.0% during the 1st quarter. Ausdal Financial Partners Inc. now owns 12,504 shares of the semiconductor manufacturer’s stock valued at $543,000 after buying an additional 245 shares during the last quarter. Finally, Fagan Associates Inc. raised its stake in Micron Technology by 0.8% during the 1st quarter. Fagan Associates Inc. now owns 32,325 shares of the semiconductor manufacturer’s stock valued at $1,360,000 after buying an additional 250 shares during the last quarter. Institutional investors own 80.63% of the company’s stock.

MU opened at $50.06 on Friday. The firm has a 50-day simple moving average of $50.05 and a two-hundred day simple moving average of $49.48. Micron Technology, Inc. has a 52 week low of $31.13 and a 52 week high of $61.19. The company has a market capitalization of $55.61 billion, a PE ratio of 25.15, a price-to-earnings-growth ratio of 1.97 and a beta of 1.53. The company has a quick ratio of 2.02, a current ratio of 2.89 and a debt-to-equity ratio of 0.18.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Monday, June 29th. The semiconductor manufacturer reported $0.82 EPS for the quarter, beating the consensus estimate of $0.71 by $0.11. Micron Technology had a net margin of 11.16% and a return on equity of 6.31%. The business had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.05 billion. During the same quarter in the prior year, the firm earned $1.05 EPS. The business’s revenue was up 13.6% on a year-over-year basis. As a group, sell-side analysts expect that Micron Technology, Inc. will post 2.47 earnings per share for the current year.

A number of equities research analysts have weighed in on MU shares. Zacks Investment Research lowered shares of Micron Technology from a “hold” rating to a “sell” rating and set a $48.00 target price for the company. in a research note on Monday, May 4th. Goldman Sachs Group boosted their price objective on shares of Micron Technology from $53.00 to $58.00 and gave the company a “neutral” rating in a research report on Tuesday, June 30th. Citigroup reissued a “sell” rating on shares of Micron Technology in a research report on Thursday, May 28th. Susquehanna Bancshares reissued a “buy” rating on shares of Micron Technology in a research report on Friday, July 24th. Finally, Morgan Stanley boosted their price objective on shares of Micron Technology from $52.50 to $63.00 and gave the company an “overweight” rating in a research report on Tuesday, June 16th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. Micron Technology presently has a consensus rating of “Buy” and an average price target of $63.42.

In other news, EVP Scott J. Deboer sold 10,000 shares of the company’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $51.79, for a total transaction of $517,900.00. Following the sale, the executive vice president now directly owns 128,368 shares in the company, valued at approximately $6,648,178.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is currently owned by corporate insiders.

Micron Technology Profile

Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute and Networking Business Unit (CNBU); Mobile Business Unit (MBU); Storage Business Unit (SBU); and Embedded Business Unit (EBU). The Compute and Networking Business Unit segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.

Further Reading: Net Margin

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

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