D.A. Davidson & CO. Has $5.03 Million Stock Position in Micron Technology, Inc. (NASDAQ:MU)

D.A. Davidson & CO. lowered its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 13.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,739 shares of the semiconductor manufacturer's stock after selling 9,105 shares during the quarter. D.A. Davidson & CO.'s holdings in Micron Technology were worth $5,028,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Empower Advisory Group LLC grew its stake in Micron Technology by 5.9% during the 4th quarter. Empower Advisory Group LLC now owns 2,846 shares of the semiconductor manufacturer's stock valued at $240,000 after acquiring an additional 158 shares in the last quarter. CIBC Asset Management Inc grew its position in Micron Technology by 3.3% during the fourth quarter. CIBC Asset Management Inc now owns 357,035 shares of the semiconductor manufacturer's stock valued at $30,048,000 after purchasing an additional 11,473 shares in the last quarter. Woodard & Co. Asset Management Group Inc. ADV increased its stake in Micron Technology by 66.8% in the 4th quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 14,571 shares of the semiconductor manufacturer's stock valued at $1,226,000 after buying an additional 5,833 shares during the period. Sierra Ocean LLC purchased a new stake in Micron Technology in the 4th quarter worth approximately $65,000. Finally, JFS Wealth Advisors LLC boosted its stake in shares of Micron Technology by 20.4% during the 4th quarter. JFS Wealth Advisors LLC now owns 1,681 shares of the semiconductor manufacturer's stock valued at $141,000 after buying an additional 285 shares during the period. Hedge funds and other institutional investors own 80.84% of the company's stock.

Micron Technology Stock Performance

MU stock traded down $4.94 during trading on Friday, reaching $98.24. 10,689,081 shares of the stock were exchanged, compared to its average volume of 22,661,967. The company has a market capitalization of $109.45 billion, a P/E ratio of 28.29 and a beta of 1.18. The stock has a 50 day simple moving average of $96.35 and a 200-day simple moving average of $98.70. Micron Technology, Inc. has a twelve month low of $83.54 and a twelve month 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.

Micron Technology (NASDAQ:MU - Get Free Report) last announced 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. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. During the same period last year, the firm posted ($0.95) EPS. The firm's quarterly revenue was up 84.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were given a $0.115 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a yield of 0.47%. Micron Technology's payout ratio is 13.26%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. The Goldman Sachs Group dropped their price target on shares of Micron Technology from $145.00 to $128.00 and set a "buy" rating on the stock in a research note on Thursday, December 19th. Sanford C. Bernstein cut their price target 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. Wedbush reissued an "outperform" rating and issued a $140.00 price target on shares of Micron Technology in a research note on Tuesday, December 17th. Piper Sandler dropped their price objective on Micron Technology from $150.00 to $120.00 and set an "overweight" rating on the stock in a report on Thursday, December 19th. Finally, Morgan Stanley reduced their target price on shares of Micron Technology from $98.00 to $91.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $134.96.

Insider Activity

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction on Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.30% of the company's stock.

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.