Synergy Asset Management LLC Invests $947,000 in Micron Technology, Inc. (NASDAQ:MU)

Synergy Asset Management LLC acquired a new stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 10,838 shares of the semiconductor manufacturer's stock, valued at approximately $947,000.

Several other large investors have also added to or reduced their stakes in MU. Harmony Asset Management LLC increased its holdings in shares of Micron Technology by 75.6% during the third quarter. Harmony Asset Management LLC now owns 11,889 shares of the semiconductor manufacturer's stock valued at $1,233,000 after acquiring an additional 5,120 shares in the last quarter. Lazard Freres Gestion S.A.S. raised its holdings in Micron Technology by 241.7% in the third quarter. Lazard Freres Gestion S.A.S. now owns 41,000 shares of the semiconductor manufacturer's stock worth $4,252,000 after buying an additional 29,000 shares during the last quarter. Chartwell Investment Partners LLC lifted its stake in shares of Micron Technology by 26.4% in the third quarter. Chartwell Investment Partners LLC now owns 195,115 shares of the semiconductor manufacturer's stock worth $20,236,000 after buying an additional 40,802 shares in the last quarter. Stablepoint Partners LLC bought a new stake in shares of Micron Technology during the fourth quarter valued at approximately $569,000. Finally, State Street Corp raised its holdings in Micron Technology by 3.1% in the 3rd quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer's stock worth $5,001,592,000 after acquiring an additional 1,434,568 shares during the last quarter. Institutional investors own 80.84% of the company's stock.

Micron Technology Price Performance

Shares of NASDAQ:MU traded up $3.46 during mid-day trading on Thursday, reaching $92.47. The stock had a trading volume of 22,095,036 shares, compared to its average volume of 26,827,545. The business's 50 day moving average price is $97.85 and its 200 day moving average price is $100.40. Micron Technology, Inc. has a 1 year low of $79.15 and a 1 year high of $157.54. The company has a market cap of $103.02 billion, a P/E ratio of 26.65 and a beta of 1.18. 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 quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business had revenue of $8.71 billion for the quarter, compared to analysts' expectations of $8.71 billion. During the same period in the prior year, the firm earned ($0.95) EPS. The company's revenue for the quarter was up 84.3% on a year-over-year basis. Research analysts expect that Micron Technology, Inc. will post 6.29 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Monday, December 30th. Micron Technology's dividend payout ratio is 13.26%.

Insider Activity at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the company's stock in a transaction that occurred on Friday, December 20th. The stock was 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 of the company's stock, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Morgan Stanley decreased their price target on Micron Technology from $98.00 to $91.00 and set an "equal weight" rating for the company in a research note on Tuesday. Robert W. Baird cut their target price on shares of Micron Technology from $150.00 to $130.00 and set an "outperform" rating for the company in a research report on Thursday, December 19th. Barclays lowered their price target on Micron Technology from $145.00 to $110.00 and set an "overweight" rating on the stock in a report on Friday, December 20th. Wells Fargo & Company reduced their price objective on Micron Technology from $175.00 to $140.00 and set an "overweight" rating for the company in a research report on Thursday, December 19th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $250.00 target price on shares of Micron Technology in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $134.96.

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.