Orca Wealth Management LLC acquired a new position in Micron Technology, Inc. (NASDAQ:MU – Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 8,356 shares of the semiconductor manufacturer’s stock, valued at approximately $703,000.
Several other hedge funds and other institutional investors have also made changes to their positions in MU. Ascent Group LLC boosted its holdings in shares of Micron Technology by 4.2% in the second quarter. Ascent Group LLC now owns 3,306 shares of the semiconductor manufacturer’s stock valued at $435,000 after acquiring an additional 133 shares in the last quarter. Creative Planning boosted its stake in Micron Technology by 12.4% during the 2nd quarter. Creative Planning now owns 149,606 shares of the semiconductor manufacturer’s stock valued at $19,678,000 after purchasing an additional 16,463 shares in the last quarter. Quarry LP increased its position in shares of Micron Technology by 130.5% during the 2nd quarter. Quarry LP now owns 604 shares of the semiconductor manufacturer’s stock valued at $79,000 after purchasing an additional 342 shares during the period. B. Riley Wealth Advisors Inc. raised its stake in shares of Micron Technology by 4.3% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 28,124 shares of the semiconductor manufacturer’s stock worth $3,699,000 after buying an additional 1,160 shares in the last quarter. Finally, EP Wealth Advisors LLC lifted its holdings in shares of Micron Technology by 43.1% in the second quarter. EP Wealth Advisors LLC now owns 16,686 shares of the semiconductor manufacturer’s stock valued at $2,195,000 after buying an additional 5,024 shares during the period. 80.84% of the stock is currently owned by institutional investors and hedge funds.
Micron Technology Trading Down 3.1 %
Micron Technology stock opened at $88.25 on Wednesday. The business’s 50-day simple moving average is $98.23 and its 200-day simple moving average is $100.80. Micron Technology, Inc. has a 52 week low of $79.15 and a 52 week high of $157.54. The firm has a market capitalization of $98.33 billion, a PE ratio of 25.43 and a beta of 1.18. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72.
Micron Technology Announces Dividend
The business 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. This represents a $0.46 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date was Monday, December 30th. Micron Technology’s payout ratio is 13.26%.
Analysts Set New Price Targets
MU has been the topic of several recent research reports. China Renaissance started coverage on Micron Technology in a report on Monday, October 28th. They set a “buy” rating and a $148.00 target price for the company. 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 note on Thursday, December 19th. UBS Group dropped their target price on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Sanford C. Bernstein reduced their price target on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Micron Technology in a research note on Wednesday, December 18th. One 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $134.96.
View Our Latest Report on Micron Technology
Insiders Place Their Bets
In other news, EVP April S. Arnzen sold 4,890 shares of the business’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 value of $416,676.90. Following the transaction, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at $15,442,011.83. The trade was a 2.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.30% of the company’s stock.
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.
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