Elevate Capital Advisors LLC Invests $969,000 in Micron Technology, Inc. (NASDAQ:MU)

Elevate Capital Advisors LLC bought a new position in Micron Technology, Inc. (NASDAQ:MU - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 11,517 shares of the semiconductor manufacturer's stock, valued at approximately $969,000.

A number of other large investors also recently bought and sold shares of the business. Highline Wealth Partners LLC bought a new position in Micron Technology in the 3rd quarter worth about $26,000. True Wealth Design LLC increased its holdings 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 purchasing an additional 296 shares in the last quarter. DT Investment Partners LLC raised its stake in shares of Micron Technology by 261.1% in the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer's stock worth $34,000 after purchasing an additional 235 shares during the last quarter. Stone House Investment Management LLC grew its stake in shares of Micron Technology by 602.2% in the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer's stock worth $34,000 after acquiring an additional 277 shares during the period. Finally, Activest Wealth Management raised its stake in Micron Technology by 583.3% during the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer's stock valued at $34,000 after buying an additional 350 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Stock Up 4.3 %

NASDAQ:MU traded up $3.98 during midday trading on Thursday, reaching $95.66. 16,558,434 shares of the stock traded hands, compared to its average volume of 23,356,627. Micron Technology, Inc. has a 12-month low of $79.15 and a 12-month high of $157.54. The business has a 50-day moving average of $96.24 and a two-hundred day moving average of $98.73. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The stock has a market capitalization of $106.58 billion, a PE ratio of 27.57 and a beta of 1.18.

Micron Technology (NASDAQ:MU - Get Free Report) last released its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.19. The company had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. Micron Technology's revenue was up 84.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.95) EPS. On average, equities analysts forecast that Micron Technology, Inc. will post 6.29 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date was Monday, December 30th. 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 company's stock in a transaction dated Friday, December 20th. The stock was 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 in the company, valued at $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.30% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Cantor Fitzgerald cut their price target on Micron Technology from $150.00 to $130.00 and set an "overweight" rating for the company in a report on Thursday, December 19th. TD Cowen lowered their price target on shares of Micron Technology from $135.00 to $125.00 and set a "buy" rating on the stock in a report on Thursday, December 19th. UBS Group reduced their price objective on shares of Micron Technology from $135.00 to $125.00 and set a "buy" rating for the company in a research note on Thursday, December 19th. Bank of America cut shares of Micron Technology from a "buy" rating to a "neutral" rating and lowered their target price for the company from $125.00 to $110.00 in a research note on Thursday, December 19th. Finally, Needham & Company LLC decreased their price target on Micron Technology from $140.00 to $120.00 and set a "buy" rating on the stock in a report 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 assigned a buy rating to the stock. According to MarketBeat.com, Micron Technology currently has a consensus rating of "Moderate Buy" and an average target price of $134.96.

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.