Arkadios Wealth Advisors Purchases 6,784 Shares of Micron Technology, Inc. (NASDAQ:MU)

Arkadios Wealth Advisors boosted its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 81.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,066 shares of the semiconductor manufacturer's stock after purchasing an additional 6,784 shares during the period. Arkadios Wealth Advisors' holdings in Micron Technology were worth $1,268,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC acquired a new position in Micron Technology during the 3rd quarter worth $26,000. Davis Capital Management acquired a new position in shares of Micron Technology during the third quarter valued at $30,000. True Wealth Design LLC boosted its holdings in Micron Technology by 1,096.3% in the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer's stock valued at $33,000 after acquiring an additional 296 shares during the last quarter. DT Investment Partners LLC grew its position in shares of Micron Technology by 261.1% during the 3rd quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer's stock worth $34,000 after buying an additional 235 shares during the period. Finally, Stone House Investment Management LLC raised its stake in shares of Micron Technology by 602.2% during the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer's stock worth $34,000 after buying an additional 277 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the business's stock in a transaction on Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.30% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MU. Barclays cut their target price on shares of Micron Technology from $145.00 to $110.00 and set an "overweight" rating on the stock in a report on Friday, December 20th. Sanford C. Bernstein decreased their target price on Micron Technology from $140.00 to $120.00 and set an "outperform" rating for the company in a research note on Wednesday, December 18th. UBS Group cut their price objective on Micron Technology from $135.00 to $125.00 and set a "buy" rating on the stock in a report on Thursday, December 19th. The Goldman Sachs Group lowered their target price on Micron Technology from $145.00 to $128.00 and set a "buy" rating for the company in a research note on Thursday, December 19th. Finally, Piper Sandler cut their price target on shares of Micron Technology from $150.00 to $120.00 and set an "overweight" rating on the stock in a research note on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $135.24.

Micron Technology Price Performance

MU stock traded up $3.15 during mid-day trading on Monday, hitting $105.75. The stock had a trading volume of 18,832,956 shares, compared to its average volume of 29,325,942. The firm has a fifty day simple moving average of $97.87 and a 200 day simple moving average of $102.02. Micron Technology, Inc. has a 52 week low of $79.15 and a 52 week high of $157.54. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $117.82 billion, a P/E ratio of 30.48 and a beta of 1.18.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating analysts' consensus estimates of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.71 billion. During the same quarter last year, the business posted ($0.95) EPS. The company's revenue was up 84.3% compared to the same quarter last year. As a group, research analysts forecast that Micron Technology, Inc. will post 6.25 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were paid a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.43%. Micron Technology's payout ratio is presently 13.26%.

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.