Personal CFO Solutions LLC Purchases Shares of 2,793 Micron Technology, Inc. (NASDAQ:MU)

Personal CFO Solutions LLC purchased a new stake in Micron Technology, Inc. (NASDAQ:MU) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,793 shares of the semiconductor manufacturer’s stock, valued at approximately $235,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Swedbank AB boosted its position in shares of Micron Technology by 30.4% during the 3rd quarter. Swedbank AB now owns 3,455,819 shares of the semiconductor manufacturer’s stock valued at $358,403,000 after purchasing an additional 806,639 shares in the last quarter. Assetmark Inc. boosted its position in shares of Micron Technology by 34.8% during the 3rd quarter. Assetmark Inc. now owns 32,792 shares of the semiconductor manufacturer’s stock valued at $3,401,000 after purchasing an additional 8,464 shares in the last quarter. Mesirow Financial Investment Management Inc. boosted its position in shares of Micron Technology by 35.0% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 7,761 shares of the semiconductor manufacturer’s stock valued at $805,000 after purchasing an additional 2,014 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Micron Technology during the 3rd quarter valued at about $79,000. Finally, Kennebec Savings Bank bought a new stake in shares of Micron Technology during the 3rd quarter valued at about $83,000. Institutional investors own 80.84% of the company’s stock.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the sale, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at $15,442,011.83. This trade 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. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value 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 represents a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by company insiders.

Micron Technology Stock Performance

Shares of MU opened at $87.08 on Tuesday. 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 company has a market capitalization of $97.02 billion, a price-to-earnings ratio of 25.10 and a beta of 1.23. The stock has a 50 day moving average of $96.02 and a 200 day moving average of $98.17. Micron Technology, Inc. has a 12 month low of $83.54 and a 12 month high of $157.54.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 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 return on equity of 8.32% and a net margin of 13.34%. Micron Technology’s revenue was up 84.3% on a year-over-year basis. During the same period last year, the business posted ($0.95) earnings per share. As a group, sell-side analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently declared 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. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date was Monday, December 30th. Micron Technology’s payout ratio is 13.26%.

Analysts Set New Price Targets

Several equities research analysts recently commented on MU shares. The Goldman Sachs Group cut their target price on Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Sanford C. Bernstein cut their target price on Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. Wells Fargo & Company cut their target price on Micron Technology from $175.00 to $140.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Wedbush reiterated an “outperform” rating and issued a $140.00 price target on shares of Micron Technology in a report on Tuesday, December 17th. Finally, Stifel Nicolaus cut their price target on Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Micron Technology currently has a consensus rating of “Moderate Buy” and an average price target of $134.96.

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.