Geneos Wealth Management Inc. Decreases Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Geneos Wealth Management Inc. cut its holdings in Micron Technology, Inc. (NASDAQ:MU) by 25.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,033 shares of the semiconductor manufacturer’s stock after selling 4,910 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Micron Technology were worth $1,181,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Harmony Asset Management LLC increased its holdings in Micron Technology by 75.6% in the 3rd quarter. Harmony Asset Management LLC now owns 11,889 shares of the semiconductor manufacturer’s stock worth $1,233,000 after buying an additional 5,120 shares during the period. Lazard Freres Gestion S.A.S. increased its stake in shares of Micron Technology by 241.7% in the third quarter. Lazard Freres Gestion S.A.S. now owns 41,000 shares of the semiconductor manufacturer’s stock worth $4,252,000 after acquiring an additional 29,000 shares during the period. Chartwell Investment Partners LLC raised its holdings in shares of Micron Technology by 26.4% during the third quarter. Chartwell Investment Partners LLC now owns 195,115 shares of the semiconductor manufacturer’s stock worth $20,236,000 after purchasing an additional 40,802 shares during the last quarter. State Street Corp lifted its position in Micron Technology by 3.1% during the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock valued at $5,001,592,000 after purchasing an additional 1,434,568 shares during the period. Finally, Global X Japan Co. Ltd. boosted its holdings in Micron Technology by 23.1% in the third quarter. Global X Japan Co. Ltd. now owns 51,832 shares of the semiconductor manufacturer’s stock valued at $5,375,000 after purchasing an additional 9,735 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MU. Sanford C. Bernstein lowered their target price on Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 18th. JPMorgan Chase & Co. dropped their price objective on shares of Micron Technology from $180.00 to $145.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Morgan Stanley decreased their target price on shares of Micron Technology from $114.00 to $98.00 and set an “equal weight” rating for the company in a research note on Thursday, December 19th. Rosenblatt Securities restated a “buy” rating and set a $250.00 price target on shares of Micron Technology in a research report on Wednesday, December 18th. Finally, The Goldman Sachs Group decreased 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 research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $135.24.

Micron Technology Trading Down 1.6 %

Shares of MU stock opened at $103.19 on Monday. The company has a 50-day moving average of $98.36 and a two-hundred day moving average of $101.32. The firm has a market cap of $114.97 billion, a PE ratio of 29.74 and a beta of 1.18. Micron Technology, Inc. has a 1-year low of $79.15 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 announced its 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. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.71 billion. During the same period last year, the business posted ($0.95) EPS. Micron Technology’s revenue for the quarter was up 84.3% on a year-over-year basis. On average, analysts predict that Micron Technology, Inc. will post 6.29 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently announced 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 dividend payout ratio (DPR) is presently 13.26%.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on 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 $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.30% of the stock is owned by company insiders.

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.