Moran Wealth Management LLC Purchases 33,685 Shares of Micron Technology, Inc. (NASDAQ:MU)

Moran Wealth Management LLC raised its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 258.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 46,696 shares of the semiconductor manufacturer's stock after buying an additional 33,685 shares during the period. Moran Wealth Management LLC's holdings in Micron Technology were worth $3,930,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Beacon Capital Management LLC raised its holdings in shares of Micron Technology by 114.9% during the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock valued at $31,000 after purchasing an additional 200 shares in the last quarter. True Wealth Design LLC raised its holdings in shares of Micron Technology by 1,096.3% during the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer's stock valued at $33,000 after purchasing an additional 296 shares in the last quarter. Midwest Capital Advisors LLC bought a new position in shares of Micron Technology during the 4th quarter valued at $33,000. Stone House Investment Management LLC raised its holdings 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 worth $34,000 after acquiring an additional 277 shares during the period. Finally, Activest Wealth Management raised its holdings in Micron Technology by 583.3% in the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer's stock worth $34,000 after acquiring an additional 350 shares during the period. Institutional investors own 80.84% of the company's stock.

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Micron Technology Price Performance

NASDAQ:MU traded down $0.76 on Thursday, reaching $94.88. The stock had a trading volume of 18,802,666 shares, compared to its average volume of 22,122,385. The company has a market capitalization of $105.71 billion, a P/E ratio of 27.34 and a beta of 1.23. Micron Technology, Inc. has a 1-year low of $83.54 and a 1-year high of $157.54. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The stock has a fifty day moving average price of $96.50 and a 200-day moving average price of $98.04.

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

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology's dividend payout ratio is presently 13.26%.

Wall Street Analyst Weigh In

Several brokerages recently commented on MU. Rosenblatt Securities reiterated a "buy" rating and issued a $250.00 target price on shares of Micron Technology in a report on Wednesday, December 18th. Needham & Company LLC dropped their target price on shares of Micron Technology from $140.00 to $120.00 and set a "buy" rating on the stock in a report on Thursday, December 19th. Cantor Fitzgerald dropped their target price on shares of Micron Technology from $150.00 to $130.00 and set an "overweight" rating on the stock in a report on Thursday, December 19th. KGI Securities upgraded shares of Micron Technology to a "strong-buy" rating in a report on Friday, February 21st. Finally, Stifel Nicolaus dropped their target price on shares of Micron Technology from $135.00 to $130.00 and set a "buy" rating on the stock in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Micron Technology currently has a consensus rating of "Moderate Buy" and a consensus price target of $134.56.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 4,890 shares of the business's stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the completion of the sale, the executive vice president now directly owns 181,223 shares of the company's stock, valued at $15,442,011.83. The trade was a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the sale, the director now directly owns 27,358 shares of the company's stock, valued at approximately $2,542,378.94. This trade represents a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.30% of the company's stock.

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.