Bourgeon Capital Management LLC Has $5.68 Million Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Bourgeon Capital Management LLC trimmed its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 34.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 67,512 shares of the semiconductor manufacturer's stock after selling 35,016 shares during the quarter. Bourgeon Capital Management LLC's holdings in Micron Technology were worth $5,682,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Stonebrook Private Inc. boosted its stake in Micron Technology by 4.2% during 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. John G Ullman & Associates Inc. lifted its holdings in Micron Technology by 2.5% during the 3rd quarter. John G Ullman & Associates Inc. now owns 4,063 shares of the semiconductor manufacturer's stock valued at $421,000 after purchasing an additional 100 shares during the last quarter. Trivant Custom Portfolio Group LLC lifted its position in Micron Technology by 20.0% during the 4th quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer's stock worth $50,000 after buying an additional 100 shares in the last quarter. Trust Co. of Vermont lifted its holdings in Micron Technology by 14.3% during the 3rd quarter. Trust Co. of Vermont now owns 821 shares of the semiconductor manufacturer's stock worth $85,000 after buying an additional 103 shares in the last quarter. Finally, PDS Planning Inc raised its position in shares of Micron Technology by 2.4% during the third quarter. PDS Planning Inc now owns 4,382 shares of the semiconductor manufacturer's stock worth $454,000 after acquiring an additional 104 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Stock Performance

MU traded up $0.30 during trading on Wednesday, hitting $109.68. The stock had a trading volume of 13,812,865 shares, compared to its average volume of 25,225,449. The company has a 50 day moving average price of $97.92 and a 200-day moving average price of $101.65. The firm has a market cap of $122.20 billion, a price-to-earnings ratio of 31.60 and a beta of 1.18. Micron Technology, Inc. has a one year low of $79.15 and a one year high of $157.54. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75.

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

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were issued a $0.115 dividend. The ex-dividend date was Monday, December 30th. This represents a $0.46 annualized dividend and a yield of 0.42%. Micron Technology's dividend payout ratio is presently 13.26%.

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the business's stock in a transaction on Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the completion of the transaction, the executive vice president now owns 181,223 shares of the company's stock, valued at approximately $15,442,011.83. The trade was a 2.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.30% of the company's stock.

Analysts Set New Price Targets

MU has been the subject of several recent research reports. Cantor Fitzgerald dropped their target price on shares of Micron Technology from $150.00 to $130.00 and set an "overweight" rating for the company in a research report on Thursday, December 19th. The Goldman Sachs Group decreased their price target on shares of Micron Technology from $145.00 to $128.00 and set a "buy" rating for the company in a report on Thursday, December 19th. Mizuho decreased their price target on shares of Micron Technology from $135.00 to $115.00 and set an "outperform" rating for the company in a report on Thursday, December 19th. TD Cowen decreased their price target on shares of Micron Technology from $135.00 to $125.00 and set a "buy" rating for the company in a report on Thursday, December 19th. Finally, Needham & Company LLC decreased their price target on shares of Micron Technology from $140.00 to $120.00 and set a "buy" rating for the company in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Micron Technology currently has a consensus rating of "Moderate Buy" and an average target price of $135.24.

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.