Primoris Wealth Advisors LLC Sells 13,290 Shares of Micron Technology, Inc. (NASDAQ:MU)

Primoris Wealth Advisors LLC reduced its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 81.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,110 shares of the semiconductor manufacturer's stock after selling 13,290 shares during the quarter. Primoris Wealth Advisors LLC's holdings in Micron Technology were worth $262,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Beacon Capital Management LLC lifted its position in Micron Technology by 114.9% during the fourth 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 during the last quarter. Midwest Capital Advisors LLC bought a new stake in shares of Micron Technology during the 4th quarter worth $33,000. Activest Wealth Management grew its position in Micron Technology by 583.3% in the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer's stock worth $34,000 after acquiring an additional 350 shares in the last quarter. Comprehensive Financial Planning Inc. PA bought a new position in Micron Technology in the fourth quarter valued at $34,000. Finally, Curio Wealth LLC purchased a new stake in Micron Technology during the fourth quarter valued at about $34,000. Hedge funds and other institutional investors own 80.84% of the company's stock.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the firm's stock in a transaction that occurred on 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 transaction, the executive vice president now owns 164,769 shares in the company, valued at $15,847,482.42. This trade represents a 8.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company'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 value of $223,403.72. Following the sale, the director now directly owns 27,358 shares in the company, valued at $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.

Remove Ads

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. China Renaissance cut shares of Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 target price on the stock. in a report on Wednesday, March 26th. Morgan Stanley upped their price objective 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. Barclays lifted their price target on Micron Technology from $110.00 to $115.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. Piper Sandler cut their price objective on shares of Micron Technology from $150.00 to $120.00 and set an "overweight" rating on the stock in a report on Thursday, December 19th. Finally, Mizuho decreased their target price 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $129.36.

Micron Technology Price Performance

Shares of NASDAQ MU traded up $1.24 during midday trading on Tuesday, reaching $72.26. The stock had a trading volume of 2,304,776 shares, compared to its average volume of 23,198,014. 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 12-month low of $61.54 and a 12-month high of $157.54. The stock has a 50-day moving average of $90.21 and a 200-day moving average of $96.75. The company has a market capitalization of $80.75 billion, a price-to-earnings ratio of 20.83 and a beta of 1.18.

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 return on equity of 8.32% and a net margin of 13.34%. The business had revenue of $8.05 billion for the quarter, compared to analysts' expectations of $7.93 billion. During the same period last year, the firm earned $0.42 earnings per share. The business's quarterly revenue was up 38.2% on a year-over-year basis. As a group, research analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current fiscal 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 paid a $0.115 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.46 annualized dividend and a yield of 0.64%. Micron Technology's payout ratio is 11.03%.

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.