Venturi Wealth Management LLC Raises Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Venturi Wealth Management LLC increased its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 4.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 116,954 shares of the semiconductor manufacturer's stock after purchasing an additional 5,496 shares during the period. Venturi Wealth Management LLC's holdings in Micron Technology were worth $9,843,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of MU. Highline Wealth Partners LLC purchased a new stake in Micron Technology during the third quarter valued at approximately $26,000. Stone House Investment Management LLC increased its position in shares of Micron Technology by 602.2% during the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer's stock valued at $34,000 after purchasing an additional 277 shares during the last quarter. True Wealth Design LLC raised its holdings in 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 buying an additional 296 shares during the period. DT Investment Partners LLC lifted its position in Micron Technology by 261.1% in the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer's stock worth $34,000 after buying an additional 235 shares during the last quarter. Finally, Beacon Capital Management LLC boosted its stake in Micron Technology by 114.9% during the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock worth $31,000 after buying an additional 200 shares during the period. Hedge funds and other institutional investors own 80.84% of the company's stock.

Analyst Upgrades and Downgrades

MU has been the topic of several recent analyst reports. JPMorgan Chase & Co. reduced their target price on shares of Micron Technology from $180.00 to $145.00 and set an "overweight" rating on the stock in a research note on Thursday, December 19th. Stifel Nicolaus decreased their price objective on shares of Micron Technology from $135.00 to $130.00 and set a "buy" rating for the company in a research note on Thursday, December 19th. Cantor Fitzgerald cut their target price on Micron Technology from $150.00 to $130.00 and set an "overweight" rating on the stock in a research note on Thursday, December 19th. Piper Sandler reduced their price target on Micron Technology from $150.00 to $120.00 and set an "overweight" rating on the stock in a report on Thursday, December 19th. Finally, The Goldman Sachs Group dropped their price objective on Micron Technology from $145.00 to $128.00 and set a "buy" rating for the company in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $134.96.

Micron Technology Stock Down 4.3 %

NASDAQ MU traded down $4.40 during midday trading on Friday, hitting $98.78. 18,633,227 shares of the company traded hands, compared to its average volume of 22,918,740. Micron Technology, Inc. has a 52 week low of $83.54 and a 52 week high of $157.54. The company's 50-day simple moving average is $96.28 and its 200-day simple moving average is $98.76. The company has a market cap of $110.06 billion, a PE ratio of 28.47 and a beta of 1.18. 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 (NASDAQ:MU - Get Free Report) last issued its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating analysts' consensus estimates of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.71 billion. During the same quarter last year, the company earned ($0.95) earnings per share. The firm's revenue for the quarter was up 84.3% compared to the same quarter last year. As a group, equities research analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Monday, December 30th. Micron Technology's payout ratio is currently 13.26%.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the sale, the executive vice president now directly owns 181,223 shares in the company, valued at approximately $15,442,011.83. This trade 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 the SEC website. 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.