Micron Technology, Inc. (NASDAQ:MU) Shares Bought by Focus Partners Wealth

Focus Partners Wealth raised its holdings in Micron Technology, Inc. (NASDAQ:MU) by 0.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 33,700 shares of the semiconductor manufacturer’s stock after acquiring an additional 235 shares during the period. Focus Partners Wealth’s holdings in Micron Technology were worth $2,836,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Brookstone Capital Management increased its holdings in shares of Micron Technology by 8.8% during the 4th quarter. Brookstone Capital Management now owns 11,921 shares of the semiconductor manufacturer’s stock worth $1,003,000 after buying an additional 961 shares during the last quarter. Capital Investment Advisors LLC increased its holdings in shares of Micron Technology by 7.5% during the 4th quarter. Capital Investment Advisors LLC now owns 6,317 shares of the semiconductor manufacturer’s stock worth $532,000 after buying an additional 439 shares during the last quarter. Miracle Mile Advisors LLC acquired a new stake in shares of Micron Technology during the 4th quarter worth approximately $253,000. Pines Wealth Management LLC acquired a new stake in shares of Micron Technology during the 4th quarter worth approximately $405,000. Finally, Fifth Third Wealth Advisors LLC increased its holdings in shares of Micron Technology by 4.5% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 21,350 shares of the semiconductor manufacturer’s stock worth $1,797,000 after buying an additional 928 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Activity at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $80.00, for a total transaction of $192,320.00. Following the sale, the director now owns 24,954 shares in the company, valued at $1,996,320. The trade was a 8.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the sale, the executive vice president now owns 164,769 shares in the company, valued at $15,847,482.42. This represents a 8.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,808 shares of company stock valued at $1,858,424 over the last ninety days. Insiders own 0.30% of the company’s stock.

Micron Technology Trading Up 0.1%

Micron Technology stock opened at $95.45 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. The firm has a 50-day moving average price of $82.95 and a two-hundred day moving average price of $92.75. The firm has a market capitalization of $106.67 billion, a price-to-earnings ratio of 27.51 and a beta of 1.21. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $157.54.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. The company had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business’s revenue for the quarter was up 38.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.42 EPS. Sell-side analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology’s dividend payout ratio is presently 11.03%.

Analyst Ratings Changes

MU has been the subject of a number of recent analyst reports. China Renaissance downgraded shares of Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 price target for the company. in a report on Wednesday, March 26th. Cantor Fitzgerald restated an “overweight” rating and set a $130.00 price target on shares of Micron Technology in a report on Friday, March 21st. Morgan Stanley dropped their target price on shares of Micron Technology from $112.00 to $98.00 and set an “equal weight” rating for the company in a report on Wednesday, May 7th. Wedbush reiterated an “underperform” rating on shares of Micron Technology in a report on Monday, April 28th. Finally, Rosenblatt Securities dropped their target price on shares of Micron Technology from $250.00 to $200.00 and set a “buy” rating for the company in a report on Friday, March 21st. Two research analysts have rated the stock with a sell rating, four have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $126.48.

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.