Regal Investment Advisors LLC acquired a new stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 38,829 shares of the semiconductor manufacturer's stock, valued at approximately $3,268,000.
Other hedge funds have also recently bought and sold shares of the company. United Capital Financial Advisors LLC boosted its position in shares of Micron Technology by 4.3% in the fourth quarter. United Capital Financial Advisors LLC now owns 24,899 shares of the semiconductor manufacturer's stock worth $2,096,000 after buying an additional 1,027 shares during the period. Jump Financial LLC boosted its position in Micron Technology by 43.3% during the fourth quarter. Jump Financial LLC now owns 5,975 shares of the semiconductor manufacturer's stock valued at $503,000 after purchasing an additional 1,804 shares during the last quarter. Canada Post Corp Registered Pension Plan acquired a new position in shares of Micron Technology during the 4th quarter worth $1,484,000. CreativeOne Wealth LLC raised its stake in shares of Micron Technology by 112.7% in the 4th quarter. CreativeOne Wealth LLC now owns 15,383 shares of the semiconductor manufacturer's stock valued at $1,295,000 after acquiring an additional 8,152 shares in the last quarter. Finally, Mariner LLC increased its stake in shares of Micron Technology by 4.2% in the fourth quarter. Mariner LLC now owns 220,722 shares of the semiconductor manufacturer's stock worth $18,576,000 after purchasing an additional 8,846 shares during the period. 80.84% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Micron Technology
In other news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.93, for a total value of $223,403.72. Following the completion of the transaction, the director now owns 27,358 shares of the company's stock, valued at approximately $2,542,378.94. This represents a 8.08 % decrease in their ownership of the stock. The transaction 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 15,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the completion of the sale, the executive vice president now owns 164,769 shares in the company, valued at approximately $15,847,482.42. The trade was a 8.34 % 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 insiders.
Micron Technology Stock Performance
Shares of MU stock traded down $0.53 on Friday, hitting $68.80. The company's stock had a trading volume of 20,670,930 shares, compared to its average volume of 23,307,121. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two 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. The stock's 50 day moving average is $88.74 and its 200-day moving average is $96.14. The company has a market capitalization of $76.89 billion, a PE ratio of 19.83 and a beta of 1.18.
Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.13. The company had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm's quarterly revenue was up 38.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.42 earnings per share. 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 company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.67%. The ex-dividend date was Monday, March 31st. Micron Technology's payout ratio is presently 11.03%.
Wall Street Analyst Weigh In
MU has been the subject of several research reports. China Renaissance cut Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 target price for the company. in a research report on Wednesday, March 26th. The Goldman Sachs Group dropped their price target on Micron Technology from $145.00 to $128.00 and set a "buy" rating for the company in a report on Thursday, December 19th. Royal Bank of Canada set a $125.00 price target on shares of Micron Technology in a research note on Wednesday, March 19th. Cantor Fitzgerald restated an "overweight" rating and issued a $130.00 price objective on shares of Micron Technology in a report on Friday, March 21st. Finally, UBS Group lifted their price objective on shares of Micron Technology from $125.00 to $130.00 and gave the stock a "buy" rating in a research note on Monday, March 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $129.36.
Check Out Our Latest Report on MU
Micron Technology Company Profile
(
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.
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