Kestra Investment Management LLC Has $35,000 Position in Micron Technology, Inc. (NASDAQ:MU)

Kestra Investment Management LLC lowered its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 87.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 413 shares of the semiconductor manufacturer's stock after selling 2,846 shares during the period. Kestra Investment Management LLC's holdings in Micron Technology were worth $35,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Van ECK Associates Corp grew its holdings in Micron Technology by 30.6% during the third quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer's stock valued at $1,109,769,000 after purchasing an additional 2,477,985 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Micron Technology by 21.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer's stock valued at $1,174,643,000 after purchasing an additional 2,022,180 shares during the last quarter. State Street Corp grew 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. Worldquant Millennium Advisors LLC grew its holdings in Micron Technology by 254.4% during the third quarter. Worldquant Millennium Advisors LLC now owns 1,859,416 shares of the semiconductor manufacturer's stock valued at $192,840,000 after purchasing an additional 1,334,690 shares during the last quarter. Finally, International Assets Investment Management LLC grew its holdings in Micron Technology by 1,233.7% during the third quarter. International Assets Investment Management LLC now owns 1,430,619 shares of the semiconductor manufacturer's stock valued at $145,470,000 after purchasing an additional 1,323,352 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

Micron Technology Stock Down 4.3 %

Shares of NASDAQ MU opened at $98.78 on Friday. The stock has a market cap of $110.06 billion, a PE ratio of 28.47 and a beta of 1.18. The business has a fifty day moving average of $96.28 and a two-hundred day moving average of $98.82. Micron Technology, Inc. has a 52-week low of $83.54 and a 52-week 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.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating analysts' consensus estimates of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.71 billion. During the same period last year, the company posted ($0.95) earnings per share. The firm's quarterly revenue was up 84.3% compared to the same quarter last year. As a group, equities research analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were paid 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 dividend yield of 0.47%. Micron Technology's dividend payout ratio (DPR) is presently 13.26%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Rosenblatt Securities reiterated a "buy" rating and set a $250.00 price target on shares of Micron Technology in a report on Wednesday, December 18th. JPMorgan Chase & Co. reduced their price objective on Micron Technology from $180.00 to $145.00 and set an "overweight" rating for the company in a research report on Thursday, December 19th. Stifel Nicolaus reduced their price objective on Micron Technology from $135.00 to $130.00 and set a "buy" rating for the company in a research report on Thursday, December 19th. Robert W. Baird reduced their price objective on Micron Technology from $150.00 to $130.00 and set an "outperform" rating for the company in a research report on Thursday, December 19th. Finally, Wedbush reissued an "outperform" rating and issued a $140.00 price objective on shares of Micron Technology in a research report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $134.96.

Insider Activity

In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology 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 completion of the sale, the executive vice president now directly owns 181,223 shares in the company, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.30% of the stock is currently owned by corporate insiders.

Micron Technology Company 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.

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