Modern Wealth Management LLC purchased a new position in Micron Technology, Inc. (NASDAQ:MU - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 18,862 shares of the semiconductor manufacturer's stock, valued at approximately $1,587,000.
Other large investors also recently modified their holdings of the company. Beacon Capital Management LLC lifted its position in Micron Technology by 114.9% in the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock worth $31,000 after purchasing an additional 200 shares during the period. True Wealth Design LLC raised its stake in shares of Micron Technology by 1,096.3% in the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer's stock worth $33,000 after buying an additional 296 shares in the last quarter. Midwest Capital Advisors LLC acquired a new stake in shares of Micron Technology in the fourth quarter valued at $33,000. Stone House Investment Management LLC boosted its stake in Micron Technology by 602.2% during the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer's stock valued at $34,000 after buying an additional 277 shares in the last quarter. Finally, Activest Wealth Management grew its holdings in Micron Technology by 583.3% during the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer's stock worth $34,000 after acquiring an additional 350 shares during the period. 80.84% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on MU shares. JPMorgan Chase & Co. cut their price target on shares of Micron Technology from $145.00 to $135.00 and set an "overweight" rating for the company in a report on Friday, March 21st. China Renaissance cut shares of Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 target price for the company. in a report on Wednesday. Stifel Nicolaus dropped their price target on Micron Technology from $135.00 to $130.00 and set a "buy" rating on the stock in a report on Thursday, December 19th. Needham & Company LLC cut their price objective on Micron Technology from $140.00 to $120.00 and set a "buy" rating for the company in a research report on Thursday, December 19th. Finally, Mizuho decreased their target price on Micron Technology from $135.00 to $115.00 and set an "outperform" rating on the stock in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $129.76.
Check Out Our Latest Stock Analysis on MU
Micron Technology Stock Down 3.5 %
Shares of NASDAQ MU traded down $3.18 during mid-day trading on Friday, reaching $87.98. The company had a trading volume of 9,186,532 shares, compared to its average volume of 22,835,973. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. Micron Technology, Inc. has a twelve month low of $83.54 and a twelve month high of $157.54. The stock's 50 day moving average is $96.35 and its 200-day moving average is $98.36. The stock has a market capitalization of $98.32 billion, a PE ratio of 25.29 and a beta of 1.23.
Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping analysts' consensus estimates of $1.43 by $0.13. The company had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business's quarterly revenue was up 38.2% on a year-over-year basis. During the same period last year, the business earned $0.42 EPS. As a group, equities analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.
Micron Technology Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend is Monday, March 31st. Micron Technology's dividend payout ratio (DPR) is presently 11.03%.
Insiders Place Their Bets
In other news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total value of $223,403.72. Following the transaction, the director now owns 27,358 shares of the company's stock, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the business's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the completion of the sale, the executive vice president now owns 164,769 shares of the company's stock, valued at $15,847,482.42. The trade was a 8.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.30% of the company's stock.
Micron Technology Profile
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Free Report)
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.
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