Oppenheimer Asset Management Inc. Sells 2,330 Shares of Micron Technology, Inc. (NASDAQ:MU)

Oppenheimer Asset Management Inc. lessened its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 19.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,407 shares of the semiconductor manufacturer’s stock after selling 2,330 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Micron Technology were worth $792,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Beacon Capital Management LLC raised its stake in shares of Micron Technology by 114.9% during the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after acquiring an additional 200 shares in the last quarter. True Wealth Design LLC increased its holdings in Micron Technology by 1,096.3% during the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after buying an additional 296 shares during the period. Midwest Capital Advisors LLC purchased a new position in Micron Technology during the fourth quarter valued at approximately $33,000. Stone House Investment Management LLC increased its holdings in Micron Technology by 602.2% during the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 277 shares during the period. Finally, Activest Wealth Management increased its holdings in 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 buying an additional 350 shares during the period. Institutional investors own 80.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MU shares. Rosenblatt Securities reissued a “buy” rating and set a $250.00 price objective on shares of Micron Technology in a report on Wednesday, December 18th. Piper Sandler cut their price objective on shares of Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Barclays cut their price target on shares of Micron Technology from $145.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday, December 20th. JPMorgan Chase & Co. cut their price target on shares of Micron Technology from $180.00 to $145.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Finally, Robert W. Baird cut their price target on shares of Micron Technology from $150.00 to $130.00 and set an “outperform” rating on the stock in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $134.96.

Insider Activity at Micron Technology

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 completion of the transaction, the executive vice president now owns 181,223 shares in the company, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.30% of the stock is currently owned by insiders.

Micron Technology Trading Up 0.7 %

NASDAQ MU opened at $91.20 on Wednesday. The company has a market capitalization of $101.61 billion, a PE ratio of 26.28 and a beta of 1.18. The company has a fifty day moving average of $95.81 and a 200 day moving average of $98.63. Micron Technology, Inc. has a 1 year low of $83.54 and a 1 year high of $157.54. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. The company had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm’s quarterly revenue was up 84.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.95) earnings per share. Research analysts forecast 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 Wednesday, January 15th. Investors of record on Monday, December 30th were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a yield of 0.50%. Micron Technology’s dividend payout ratio is presently 13.26%.

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.