4,812 Shares in Micron Technology, Inc. (NASDAQ:MU) Acquired by Pines Wealth Management LLC

Pines Wealth Management LLC acquired a new stake in Micron Technology, Inc. (NASDAQ:MU) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 4,812 shares of the semiconductor manufacturer’s stock, valued at approximately $405,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Highline Wealth Partners LLC bought a new stake in shares of Micron Technology in the third quarter worth about $26,000. Davis Capital Management bought a new stake in shares of Micron Technology in the 3rd quarter worth approximately $30,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Micron Technology during the second quarter valued at approximately $39,000. Stone House Investment Management LLC lifted its stake in Micron Technology by 602.2% in the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 277 shares during the period. Finally, True Wealth Design LLC boosted its holdings in Micron Technology by 1,096.3% in the third 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. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 181,223 shares in the company, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.30% of the company’s stock.

Micron Technology Trading Up 6.0 %

Shares of MU stock opened at $103.19 on Thursday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. The stock has a fifty day simple moving average of $98.39 and a two-hundred day simple moving average of $102.65. The firm has a market capitalization of $114.97 billion, a PE ratio of 151.75 and a beta of 1.18. Micron Technology, Inc. has a 52-week low of $79.15 and a 52-week high of $157.54.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.19. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. 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 business posted ($0.95) earnings per share. The firm’s revenue was up 84.3% on a year-over-year basis. On average, analysts predict that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have commented on MU. Mizuho dropped their target price on shares of Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. Morgan Stanley lowered their price objective on shares of Micron Technology from $114.00 to $98.00 and set an “equal weight” rating for the company in a report on Thursday, December 19th. Susquehanna reduced their target price on Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a report on Thursday, September 26th. Robert W. Baird lowered their target price on Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a research note on Thursday, December 19th. Finally, UBS Group reduced their price target on Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Micron Technology currently has an average rating of “Moderate Buy” and an average price target of $135.24.

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.