West Family Investments Inc. Purchases Shares of 3,281 Micron Technology, Inc. (NASDAQ:MU)

West Family Investments Inc. purchased a new stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 3,281 shares of the semiconductor manufacturer's stock, valued at approximately $276,000.

Several other hedge funds and other institutional investors have also bought and sold shares of MU. Stone House Investment Management LLC increased its holdings in shares of Micron Technology by 602.2% in the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer's stock worth $34,000 after acquiring an additional 277 shares in the last quarter. True Wealth Design LLC increased its stake 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 worth $33,000 after purchasing an additional 296 shares in the last quarter. Beacon Capital Management LLC raised its holdings in Micron Technology by 114.9% during the 4th 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. Darwin Wealth Management LLC bought a new position in Micron Technology in the third quarter valued at approximately $39,000. Finally, Midwest Capital Advisors LLC bought a new stake in shares of Micron Technology during the fourth quarter worth $33,000. Institutional investors own 80.84% of the company's stock.

Micron Technology Price Performance

Shares of Micron Technology stock traded up $3.69 on Friday, reaching $92.96. 19,124,262 shares of the stock were exchanged, compared to its average volume of 22,173,117. 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 firm has a market cap of $103.57 billion, a PE ratio of 26.79 and a beta of 1.23. The firm's 50 day moving average is $95.99 and its 200-day moving average is $98.36. Micron Technology, Inc. has a one year low of $83.54 and a one year high of $157.54.

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Micron Technology (NASDAQ:MU - Get Free Report) last issued its earnings results 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 firm 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 business posted ($0.95) EPS. The company's revenue was up 84.3% compared to the same quarter last year. As a group, analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

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

Insider Activity

In other news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the sale, the director now directly owns 27,358 shares of the company's stock, valued at approximately $2,542,378.94. This trade represents a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the company's stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the transaction, the executive vice president now directly owns 181,223 shares of the company's stock, 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 corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on MU shares. Wedbush reaffirmed an "outperform" rating and issued a $140.00 target price on shares of Micron Technology in a research note on Tuesday, December 17th. Needham & Company LLC reduced their price objective on Micron Technology from $140.00 to $120.00 and set a "buy" rating for the company in a research report on Thursday, December 19th. JPMorgan Chase & Co. dropped their target price on Micron Technology from $180.00 to $145.00 and set an "overweight" rating on the stock in a research report on Thursday, December 19th. Stifel Nicolaus cut their target price on Micron Technology from $135.00 to $130.00 and set a "buy" rating on the stock in a research note on Thursday, December 19th. Finally, Cantor Fitzgerald decreased their price target 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $134.96.

Micron Technology Company 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.