Mount Yale Investment Advisors LLC Sells 3,651 Shares of Micron Technology, Inc. (NASDAQ:MU)

Mount Yale Investment Advisors LLC reduced its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 24.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 11,451 shares of the semiconductor manufacturer's stock after selling 3,651 shares during the quarter. Mount Yale Investment Advisors LLC's holdings in Micron Technology were worth $964,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MU. Highline Wealth Partners LLC acquired a new stake in Micron Technology during the 3rd quarter worth approximately $26,000. Davis Capital Management acquired a new stake in shares of Micron Technology in the third quarter valued at $30,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Micron Technology in the second quarter valued at $39,000. Stone House Investment Management LLC boosted its holdings in Micron Technology by 602.2% in the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer's stock valued at $34,000 after purchasing an additional 277 shares during the period. Finally, True Wealth Design LLC grew its stake in Micron Technology by 1,096.3% during 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. Hedge funds and other institutional investors own 80.84% of the company's stock.

Analyst Ratings Changes

MU has been the subject of a number of analyst reports. Piper Sandler lowered their target price on shares of Micron Technology from $150.00 to $120.00 and set an "overweight" rating for the company in a research note on Thursday, December 19th. Cantor Fitzgerald dropped their price objective on Micron Technology from $150.00 to $130.00 and set an "overweight" rating on the stock in a report on Thursday, December 19th. Needham & Company LLC decreased their target price on Micron Technology from $140.00 to $120.00 and set a "buy" rating for the company in a research note on Thursday, December 19th. Rosenblatt Securities restated a "buy" rating and set a $250.00 price objective on shares of Micron Technology in a research report on Wednesday, December 18th. Finally, The Goldman Sachs Group dropped their target price on shares of Micron Technology from $145.00 to $128.00 and set a "buy" rating on the stock in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $134.96.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on 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 owns 181,223 shares in the company, valued at approximately $15,442,011.83. This trade represents a 2.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.30% of the company's stock.

Micron Technology Stock Performance

Shares of MU traded down $2.86 on Tuesday, reaching $88.25. 34,708,463 shares of the company's stock traded hands, compared to its average volume of 27,190,305. The stock's 50 day simple moving average is $98.23 and its two-hundred day simple moving average is $100.80. The stock has a market cap of $98.33 billion, a PE ratio of 25.43 and a beta of 1.18. Micron Technology, Inc. has a 52-week low of $79.15 and a 52-week 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 issued its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business had revenue of $8.71 billion for the quarter, compared to analysts' expectations of $8.71 billion. During the same quarter in the previous year, the firm posted ($0.95) EPS. The business's revenue for the quarter was up 84.3% compared to the same quarter last year. On average, analysts forecast that Micron Technology, Inc. will post 6.29 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were paid 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%.

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.