Sound View Wealth Advisors Group LLC Buys 12,745 Shares of Micron Technology, Inc. (NASDAQ:MU)

Sound View Wealth Advisors Group LLC raised its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 391.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,999 shares of the semiconductor manufacturer's stock after purchasing an additional 12,745 shares during the quarter. Sound View Wealth Advisors Group LLC's holdings in Micron Technology were worth $1,346,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of MU. OFI Invest Asset Management bought a new stake in shares of Micron Technology in the 4th quarter worth approximately $32,545,000. Personal CFO Solutions LLC bought a new stake in shares of Micron Technology in the 4th quarter worth approximately $235,000. Dorsey & Whitney Trust CO LLC lifted its holdings in shares of Micron Technology by 124.7% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 22,888 shares of the semiconductor manufacturer's stock worth $1,926,000 after acquiring an additional 12,701 shares during the last quarter. Naviter Wealth LLC bought a new stake in shares of Micron Technology in the 4th quarter worth approximately $843,000. Finally, Rialto Wealth Management LLC bought a new stake in shares of Micron Technology in the 4th quarter worth approximately $84,000. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Stock Up 4.1 %

NASDAQ:MU opened at $92.96 on Monday. The firm's 50-day moving average price is $95.99 and its 200-day moving average price is $98.29. The company has a market capitalization of $103.57 billion, a PE ratio of 26.79 and a beta of 1.23. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. Micron Technology, Inc. has a 1-year low of $83.54 and a 1-year high of $157.54.

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

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Monday, December 30th. Micron Technology's payout ratio is 13.26%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MU. Stifel Nicolaus lowered their price objective on shares of Micron Technology from $135.00 to $130.00 and set a "buy" rating for the company in a report on Thursday, December 19th. KGI Securities raised shares of Micron Technology to a "strong-buy" rating in a research note on Friday, February 21st. Cantor Fitzgerald decreased their target price on shares of Micron Technology from $150.00 to $130.00 and set an "overweight" rating on the stock in a research note on Thursday, December 19th. Sanford C. Bernstein decreased their target price on shares of Micron Technology from $140.00 to $120.00 and set an "outperform" rating on the stock in a research note on Wednesday, December 18th. Finally, Bank of America downgraded shares of Micron Technology from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $125.00 to $110.00 in a research note on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $134.96.

Insider Buying and Selling

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the transaction, the director now owns 27,358 shares in the company, valued at approximately $2,542,378.94. This represents a 8.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP April S. Arnzen sold 4,890 shares of the company's stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the transaction, the executive vice president now owns 181,223 shares in the company, valued at $15,442,011.83. This represents a 2.63 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by company insiders.

About Micron Technology

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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