Guild Investment Management Inc. cut its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 72.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,186 shares of the semiconductor manufacturer's stock after selling 29,529 shares during the period. Micron Technology accounts for 1.0% of Guild Investment Management Inc.'s portfolio, making the stock its 28th largest holding. Guild Investment Management Inc.'s holdings in Micron Technology were worth $943,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the company. Stone House Investment Management LLC grew its stake in Micron Technology by 602.2% in the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer's stock valued at $34,000 after buying an additional 277 shares during the last quarter. True Wealth Design LLC grew its stake in Micron Technology by 1,096.3% in the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer's stock valued at $33,000 after buying an additional 296 shares during the last quarter. Beacon Capital Management LLC grew its stake in Micron Technology by 114.9% in the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock valued at $31,000 after buying an additional 200 shares during the last quarter. Darwin Wealth Management LLC acquired a new position in Micron Technology in the 3rd quarter valued at about $39,000. Finally, Midwest Capital Advisors LLC acquired a new position in Micron Technology in the 4th quarter valued at about $33,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages recently commented on MU. Rosenblatt Securities reiterated a "buy" rating and issued a $250.00 price target on shares of Micron Technology in a research note on Wednesday, December 18th. Mizuho cut their price objective 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 cut their price objective 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. Needham & Company LLC cut their price objective 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. Finally, Piper Sandler cut their price objective on shares of Micron Technology from $150.00 to $120.00 and set an "overweight" 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 assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $134.96.
Check Out Our Latest Report on Micron Technology
Insider Transactions at Micron Technology
In related news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction on 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 directly owns 27,358 shares of the company's stock, valued at $2,542,378.94. This represents a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the 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 transaction, the executive vice president now directly owns 181,223 shares in the company, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by corporate insiders.
Micron Technology Trading Up 2.3 %
Shares of NASDAQ MU opened at $89.05 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. Micron Technology, Inc. has a 52-week low of $83.54 and a 52-week high of $157.54. The firm has a 50 day moving average price of $96.12 and a two-hundred day moving average price of $98.07. The stock has a market cap of $99.22 billion, a P/E ratio of 25.66 and a beta of 1.23.
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 analysts' expectations of $8.71 billion. During the same period in the prior year, the company posted ($0.95) EPS. The company's revenue was up 84.3% on a year-over-year basis. As a group, equities analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current year.
Micron Technology Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.52%. The ex-dividend date was Monday, December 30th. Micron Technology's dividend payout ratio (DPR) is presently 13.26%.
About Micron Technology
(
Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Micron Technology, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Micron Technology wasn't on the list.
While Micron Technology currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
