By otakuyassine3@gmail.com 
Quilter Plc cut its position in Micron Technology, Inc. (NASDAQ:MU – Free Report) by 9.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 176,256 shares of the semiconductor manufacturer’s stock after selling 19,426 shares during the period. Quilter Plc’s holdings in Micron Technology were worth $14,834,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of MU. Comprehensive Financial Planning Inc. PA purchased a new position in shares of Micron Technology during the fourth quarter valued at approximately $34,000. Elevate Capital Advisors LLC purchased a new position in shares of Micron Technology during the fourth quarter valued at approximately $969,000. Angeles Wealth Management LLC raised its holdings in shares of Micron Technology by 20.5% during the fourth quarter. Angeles Wealth Management LLC now owns 4,525 shares of the semiconductor manufacturer’s stock valued at $381,000 after purchasing an additional 770 shares during the last quarter. Activest Wealth Management raised its holdings in shares of Micron Technology by 583.3% during the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 350 shares during the last quarter. Finally, Kestra Private Wealth Services LLC raised its holdings in shares of Micron Technology by 7.9% during the fourth quarter. Kestra Private Wealth Services LLC now owns 71,716 shares of the semiconductor manufacturer’s stock valued at $6,036,000 after purchasing an additional 5,278 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Micron Technology 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 value of $416,676.90. Following the transaction, the executive vice president now owns 181,223 shares of the company’s stock, valued at $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 is available through this link. 0.30% of the stock is currently owned by company insiders.
Micron Technology Trading Down 2.4 %
NASDAQ MU opened at $92.30 on Monday. The company’s 50-day simple moving average is $96.63 and its two-hundred day simple moving average is $99.04. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. Micron Technology, Inc. has a one year low of $79.15 and a one year high of $157.54. The company has a market capitalization of $102.84 billion, a price-to-earnings ratio of 26.60 and a beta of 1.18.
Micron Technology (NASDAQ:MU – Get Free Report) last announced its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 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 business had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.71 billion. During the same period in the previous year, the business posted ($0.95) EPS. The business’s quarterly revenue was up 84.3% compared to the same quarter last year. Equities analysts forecast that Micron Technology, Inc. will post 6.29 EPS for the current fiscal year.
Micron Technology Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders 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 0.50%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s dividend payout ratio is presently 13.26%.
Analysts Set New Price Targets
Several research analysts have recently weighed in on MU shares. Morgan Stanley decreased their price objective on shares of Micron Technology from $98.00 to $91.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. Wells Fargo & Company reduced their target price on shares of Micron Technology from $175.00 to $140.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Mizuho reduced their target price on shares of Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. China Renaissance assumed coverage on shares of Micron Technology in a report on Monday, October 28th. They set a “buy” rating and a $148.00 target price for the company. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 price target on shares of Micron Technology in a research report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Micron Technology currently has an average rating of “Moderate Buy” and a consensus price target of $134.96.
Get Our Latest Stock Report on Micron Technology
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.
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