Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Visionary Wealth Advisors

Visionary Wealth Advisors reduced its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 2.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,189 shares of the semiconductor manufacturer’s stock after selling 216 shares during the period. Visionary Wealth Advisors’ holdings in Micron Technology were worth $689,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in MU. Beacon Capital Management LLC increased its position in Micron Technology by 114.9% in the fourth 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. Midwest Capital Advisors LLC acquired a new stake in Micron Technology in the fourth quarter worth $33,000. Activest Wealth Management increased its position in Micron Technology by 583.3% in the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 350 shares during the period. Comprehensive Financial Planning Inc. PA acquired a new stake in Micron Technology in the fourth quarter worth $34,000. Finally, Curio Wealth LLC acquired a new stake in Micron Technology in the fourth quarter worth $34,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s 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 completion of the sale, the director now directly owns 27,358 shares of the company’s stock, valued at $2,542,378.94. This trade represents a 8.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value of $1,442,700.00. Following the sale, the executive vice president now directly owns 164,769 shares of the company’s stock, valued at $15,847,482.42. This trade represents a 8.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,808 shares of company stock worth $1,858,424. 0.30% of the stock is currently owned by company insiders.

Micron Technology Trading Down 0.6%

Shares of NASDAQ MU opened at $98.10 on Wednesday. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $157.54. The firm has a market capitalization of $109.63 billion, a PE ratio of 28.27 and a beta of 1.21. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The business has a 50-day moving average price of $83.25 and a two-hundred day moving average price of $92.59.

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

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a yield of 0.47%. Micron Technology’s payout ratio is presently 11.03%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on MU shares. UBS Group dropped their target price on Micron Technology from $130.00 to $92.00 and set a “buy” rating on the stock in a research report on Monday, April 28th. Robert W. Baird raised their price target on Micron Technology from $130.00 to $163.00 and gave the company an “outperform” rating in a report on Friday, March 21st. Wells Fargo & Company reissued an “equal weight” rating on shares of Micron Technology in a report on Monday, April 28th. KGI Securities raised Micron Technology to a “strong-buy” rating in a report on Friday, February 21st. Finally, China Renaissance lowered Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 price target on the stock. in a report on Wednesday, March 26th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus 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.