Woodard & Co. Asset Management Group Inc. ADV Increases Holdings in Micron Technology, Inc. (NASDAQ:MU)

Woodard & Co. Asset Management Group Inc. ADV grew its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 66.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 14,571 shares of the semiconductor manufacturer’s stock after purchasing an additional 5,833 shares during the period. Woodard & Co. Asset Management Group Inc. ADV’s holdings in Micron Technology were worth $1,226,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of MU. Creative Planning lifted its holdings in Micron Technology by 8.1% during the 3rd quarter. Creative Planning now owns 161,774 shares of the semiconductor manufacturer’s stock worth $16,751,000 after buying an additional 12,168 shares during the last quarter. Swedbank AB increased its position in shares of Micron Technology by 30.4% during the third quarter. Swedbank AB now owns 3,455,819 shares of the semiconductor manufacturer’s stock worth $358,403,000 after purchasing an additional 806,639 shares in the last quarter. Trust Co. of Vermont increased its position in shares of Micron Technology by 14.3% during the third quarter. Trust Co. of Vermont now owns 821 shares of the semiconductor manufacturer’s stock worth $85,000 after purchasing an additional 103 shares in the last quarter. Stratos Wealth Advisors LLC increased its position in shares of Micron Technology by 32.0% during the third quarter. Stratos Wealth Advisors LLC now owns 8,004 shares of the semiconductor manufacturer’s stock worth $830,000 after purchasing an additional 1,942 shares in the last quarter. Finally, Blue Trust Inc. increased its position in shares of Micron Technology by 37.7% during the third quarter. Blue Trust Inc. now owns 14,154 shares of the semiconductor manufacturer’s stock worth $1,468,000 after purchasing an additional 3,878 shares in the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Trading Up 4.0 %

Shares of MU opened at $99.52 on Monday. 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 firm has a market capitalization of $110.88 billion, a P/E ratio of 28.68 and a beta of 1.18. The stock’s fifty day simple moving average is $96.10 and its 200 day simple moving average is $98.62. Micron Technology, Inc. has a twelve month low of $79.15 and a twelve month high of $157.54.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.19. The business had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business’s quarterly revenue was up 84.3% on a year-over-year basis. During the same period last year, the company posted ($0.95) EPS. On average, equities research analysts forecast that Micron Technology, Inc. will post 6.29 earnings per share for the current year.

Micron Technology Announces Dividend

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

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated 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. This trade represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

MU has been the topic of a number of research analyst reports. JPMorgan Chase & Co. cut their target price on Micron Technology from $180.00 to $145.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Piper Sandler cut their target price on Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Sanford C. Bernstein cut their target price on Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. Stifel Nicolaus cut their target price on Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Finally, Bank of America cut Micron Technology from a “buy” rating to a “neutral” rating and dropped their price target for the company from $125.00 to $110.00 in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $134.96.

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.