3,990 Shares in Micron Technology, Inc. (NASDAQ:MU) Purchased by Grant Private Wealth Management Inc

Grant Private Wealth Management Inc acquired a new position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,990 shares of the semiconductor manufacturer's stock, valued at approximately $336,000.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Micron Technology by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer's stock valued at $8,403,982,000 after buying an additional 888,087 shares during the last quarter. State Street Corp lifted its holdings in Micron Technology by 3.1% during the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer's stock valued at $5,001,592,000 after purchasing an additional 1,434,568 shares during the last quarter. Geode Capital Management LLC boosted its position in Micron Technology by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 24,449,827 shares of the semiconductor manufacturer's stock worth $2,052,973,000 after purchasing an additional 726,282 shares during the period. Norges Bank purchased a new position in shares of Micron Technology in the fourth quarter worth about $1,470,875,000. Finally, Bank of New York Mellon Corp raised its holdings in Micron Technology by 1.5% during the 4th quarter. Bank of New York Mellon Corp now owns 9,956,311 shares of the semiconductor manufacturer's stock valued at $837,923,000 after acquiring an additional 144,897 shares during the period. Institutional investors own 80.84% of the company's stock.

Remove Ads

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on MU shares. Morgan Stanley increased their price target on shares of Micron Technology from $91.00 to $112.00 and gave the stock an "equal weight" rating in a report on Friday, March 21st. Wells Fargo & Company lowered their target price on shares of Micron Technology from $140.00 to $130.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Needham & Company LLC reduced their price target on shares of Micron Technology from $140.00 to $120.00 and set a "buy" rating for the company in a research report on Thursday, December 19th. The Goldman Sachs Group lowered their price objective on Micron Technology from $145.00 to $128.00 and set a "buy" rating on the stock in a research report on Thursday, December 19th. Finally, Sanford C. Bernstein reduced their target price on Micron Technology from $140.00 to $120.00 and set an "outperform" rating for the company in a research report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $129.76.

Insider Transactions at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the transaction, the director now owns 27,358 shares in the company, valued at $2,542,378.94. The trade was a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the firm's stock in a transaction dated 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. This trade represents a 8.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company's stock.

Micron Technology Trading Down 16.1 %

MU traded down $14.26 on Thursday, hitting $74.34. 44,680,525 shares of the company were exchanged, compared to its average volume of 22,727,681. The stock has a market capitalization of $83.08 billion, a PE ratio of 21.42 and a beta of 1.23. Micron Technology, Inc. has a 12 month low of $74.26 and a 12 month high of $157.54. 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 firm has a fifty day simple moving average of $94.19 and a two-hundred day simple moving average of $98.25.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.13. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.93 billion. During the same period in the prior year, the business posted $0.42 EPS. The firm's revenue was up 38.2% compared to the same quarter last year. Sell-side analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date is Monday, March 31st. Micron Technology's payout ratio is 11.03%.

About Micron Technology

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.