Mirador Capital Partners LP Buys 569 Shares of Micron Technology, Inc. (NASDAQ:MU)

Mirador Capital Partners LP grew its position in Micron Technology, Inc. (NASDAQ:MU) by 12.2% in the fourth quarter, Holdings Channel reports. The fund owned 5,215 shares of the semiconductor manufacturer’s stock after acquiring an additional 569 shares during the quarter. Mirador Capital Partners LP’s holdings in Micron Technology were worth $439,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Highline Wealth Partners LLC acquired a new stake in shares of Micron Technology during the third quarter valued at about $26,000. Davis Capital Management bought a new position in Micron Technology in the 3rd quarter valued at approximately $30,000. Strategic Investment Solutions Inc. IL acquired a new stake in Micron Technology during the 2nd quarter worth approximately $39,000. Stone House Investment Management LLC increased its position in Micron Technology by 602.2% in the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 277 shares during the period. Finally, True Wealth Design LLC raised its stake in shares of 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 acquiring an additional 296 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Performance

Shares of Micron Technology stock opened at $103.68 on Thursday. The firm has a market capitalization of $115.52 billion, a P/E ratio of 29.88 and a beta of 1.18. 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’s fifty day simple moving average is $98.39 and its 200 day simple moving average is $102.65. Micron Technology, Inc. has a 12 month low of $79.15 and a 12 month 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 for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. The firm had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company’s quarterly revenue was up 84.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.95) earnings per share. As a group, analysts anticipate that Micron Technology, Inc. will post 6.25 EPS for the current year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s dividend payout ratio (DPR) is currently 13.26%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on MU shares. Mizuho decreased their price target on Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday, December 19th. Wells Fargo & Company reduced their price objective on shares of Micron Technology from $175.00 to $140.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Barclays lowered their target price on shares of Micron Technology from $145.00 to $110.00 and set an “overweight” rating for the company in a research note on Friday, December 20th. Raymond James upped their price target on shares of Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Finally, Susquehanna decreased their price target on Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a report on Thursday, September 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $135.24.

Insider Activity at Micron Technology

In other news, 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 value of $416,676.90. Following the completion of the transaction, the executive vice president now directly owns 181,223 shares in the company, valued at approximately $15,442,011.83. The trade was a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.30% of the stock is currently owned by company insiders.

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.