By otakuyassine3@gmail.com 
Lbmc Investment Advisors LLC reduced its position in Micron Technology, Inc. (NASDAQ:MU – Free Report) by 22.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,790 shares of the semiconductor manufacturer’s stock after selling 1,986 shares during the quarter. Lbmc Investment Advisors LLC’s holdings in Micron Technology were worth $571,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Highline Wealth Partners LLC purchased a new position in Micron Technology in the third quarter valued at $26,000. Davis Capital Management acquired a new stake in Micron Technology in the 3rd quarter valued at about $30,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Micron Technology in the 2nd quarter valued at about $39,000. Stone House Investment Management LLC grew its position in shares of Micron Technology by 602.2% during the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 277 shares in the last quarter. Finally, True Wealth Design LLC increased its stake in shares of Micron Technology by 1,096.3% during the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after buying an additional 296 shares during the period. 80.84% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Micron Technology
In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the completion of the sale, the executive vice president now owns 181,223 shares in the company, valued at approximately $15,442,011.83. This trade represents a 2.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.30% of the company’s stock.
Micron Technology Stock Performance
Shares of MU opened at $105.75 on Friday. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 52-week low of $79.15 and a 52-week high of $157.54. The company has a 50-day simple moving average of $97.87 and a 200-day simple moving average of $102.48. The company has a market capitalization of $117.82 billion, a PE ratio of 30.48 and a beta of 1.18.
Micron Technology (NASDAQ:MU – Get Free Report) last released its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. The business had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company’s revenue was up 84.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.95) EPS. Equities research analysts predict that Micron Technology, Inc. will post 6.25 earnings per share for the current fiscal year.
Micron Technology Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were given a $0.115 dividend. The ex-dividend date was Monday, December 30th. This represents a $0.46 annualized dividend and a dividend yield of 0.43%. Micron Technology’s dividend payout ratio is presently 13.26%.
Wall Street Analysts Forecast Growth
Several research firms recently commented on MU. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 target price on shares of Micron Technology in a report on Wednesday, December 18th. Wells Fargo & Company dropped their price objective on Micron Technology from $175.00 to $140.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. KeyCorp cut their target price on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 8th. TD Cowen dropped 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 note on Thursday, December 19th. Finally, Stifel Nicolaus cut their price objective on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Micron Technology has an average rating of “Moderate Buy” and an average target price of $135.24.
Check Out Our Latest Analysis on MU
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.
Further Reading
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