Horizon Investments LLC Has $3.84 Million Holdings in Micron Technology, Inc. (NASDAQ:MU)

Horizon Investments LLC raised its holdings in Micron Technology, Inc. (NASDAQ:MU) by 65.9% in the fourth quarter, Holdings Channel reports. The fund owned 45,663 shares of the semiconductor manufacturer’s stock after acquiring an additional 18,143 shares during the period. Horizon Investments LLC’s holdings in Micron Technology were worth $3,843,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Stone House Investment Management LLC boosted 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 worth $34,000 after purchasing an additional 277 shares during the last quarter. True Wealth Design LLC grew its holdings in shares of Micron Technology by 1,096.3% in the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after acquiring an additional 296 shares in the last quarter. Beacon Capital Management LLC increased its position in shares of Micron Technology by 114.9% in 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 during the last quarter. Darwin Wealth Management LLC bought a new stake in Micron Technology during the third quarter worth about $39,000. Finally, Midwest Capital Advisors LLC acquired a new position in Micron Technology during the fourth quarter valued at approximately $33,000. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Stock Performance

Shares of MU opened at $103.11 on Tuesday. Micron Technology, Inc. has a one year low of $83.54 and a one year high of $157.54. The company has a market cap of $114.88 billion, a PE ratio of 29.71 and a beta of 1.23. The stock has a 50-day moving average of $96.80 and a 200-day moving average of $98.13. 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 announced its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.71 billion. During the same quarter last year, the firm posted ($0.95) earnings per share. The company’s revenue for the quarter was up 84.3% compared to the same quarter last year. On average, equities research analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 annualized dividend and a yield of 0.45%. Micron Technology’s payout ratio is 13.26%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on MU shares. TD Cowen decreased their target price on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Sanford C. Bernstein cut their price objective on Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 target price on shares of Micron Technology in a research note on Wednesday, December 18th. Robert W. Baird dropped their price target on Micron Technology from $150.00 to $130.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. Finally, The Goldman Sachs Group reduced their price objective on shares of Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. One equities research 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.16.

Insider Activity

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the 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 approximately $2,542,378.94. This represents a 8.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction on Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the transaction, the executive vice president now directly owns 181,223 shares in the company, valued at $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

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.