WealthBridge Investment Counsel Inc. Purchases 2,540 Shares of Micron Technology, Inc. (NASDAQ:MU)

WealthBridge Investment Counsel Inc. increased its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 30.8% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 10,790 shares of the semiconductor manufacturer's stock after acquiring an additional 2,540 shares during the period. WealthBridge Investment Counsel Inc.'s holdings in Micron Technology were worth $908,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp raised its position in shares of Micron Technology by 3.1% in the 3rd quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer's stock valued at $5,001,592,000 after purchasing an additional 1,434,568 shares in the last quarter. Primecap Management Co. CA increased its stake in shares of Micron Technology by 0.6% in the third quarter. Primecap Management Co. CA now owns 37,631,860 shares of the semiconductor manufacturer's stock worth $3,902,800,000 after buying an additional 206,499 shares during the last quarter. Geode Capital Management LLC raised its holdings in Micron Technology by 3.9% in the third quarter. Geode Capital Management LLC now owns 23,723,545 shares of the semiconductor manufacturer's stock valued at $2,451,987,000 after acquiring an additional 892,607 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Micron Technology by 21.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer's stock valued at $1,174,643,000 after acquiring an additional 2,022,180 shares during the last quarter. Finally, Van ECK Associates Corp grew its holdings in Micron Technology by 30.6% during the 3rd quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer's stock worth $1,109,769,000 after acquiring an additional 2,477,985 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company's stock.

Insiders Place Their Bets

In related news, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.30% of the company's stock.

Micron Technology Trading Up 3.1 %

NASDAQ MU traded up $3.15 on Friday, hitting $105.75. 18,832,956 shares of the company were exchanged, compared to its average volume of 29,325,942. Micron Technology, Inc. has a twelve month low of $79.15 and a twelve month high of $157.54. The company's 50 day moving average price is $97.87 and its 200-day moving average price is $102.27. The firm has a market capitalization of $117.82 billion, a P/E ratio of 30.48 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 announced its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.71 billion. During the same period in the previous year, the business earned ($0.95) EPS. The company's revenue was up 84.3% on a year-over-year basis. Analysts predict that Micron Technology, Inc. will post 6.25 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology's dividend payout ratio (DPR) is presently 13.26%.

Analysts Set New Price Targets

A number of research firms have commented on MU. The Goldman Sachs Group reduced their target price on Micron Technology from $145.00 to $128.00 and set a "buy" rating on the stock in a report on Thursday, December 19th. Wells Fargo & Company reduced their price objective on Micron Technology from $175.00 to $140.00 and set an "overweight" rating on the stock in a research note on Thursday, December 19th. Cantor Fitzgerald lowered their target price on shares of Micron Technology from $150.00 to $130.00 and set an "overweight" rating for the company in a research note on Thursday, December 19th. UBS Group reduced their price target on shares of Micron Technology from $135.00 to $125.00 and set a "buy" rating on the stock in a research report on Thursday, December 19th. Finally, Raymond James boosted their price objective on shares of Micron Technology from $125.00 to $140.00 and gave the company an "outperform" rating in a research report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $135.24.

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.