First Horizon Advisors Inc. Sells 451 Shares of Micron Technology, Inc. (NASDAQ:MU)

First Horizon Advisors Inc. reduced its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 15.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,525 shares of the semiconductor manufacturer’s stock after selling 451 shares during the period. First Horizon Advisors Inc.’s holdings in Micron Technology were worth $213,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Callan Capital LLC grew its holdings in Micron Technology by 12.6% in the 4th quarter. Callan Capital LLC now owns 4,115 shares of the semiconductor manufacturer’s stock valued at $346,000 after buying an additional 459 shares during the last quarter. Capital Advisory Group Advisory Services LLC bought a new stake in shares of Micron Technology in the fourth quarter valued at approximately $397,000. Bank of Stockton grew its stake in shares of Micron Technology by 3.7% in the fourth quarter. Bank of Stockton now owns 18,362 shares of the semiconductor manufacturer’s stock worth $1,545,000 after acquiring an additional 647 shares during the last quarter. Transcend Capital Advisors LLC increased its position in Micron Technology by 60.7% during the fourth quarter. Transcend Capital Advisors LLC now owns 6,159 shares of the semiconductor manufacturer’s stock worth $518,000 after acquiring an additional 2,326 shares during the period. Finally, Paradigm Asset Management Co. LLC increased its position in Micron Technology by 811.1% during the fourth quarter. Paradigm Asset Management Co. LLC now owns 16,400 shares of the semiconductor manufacturer’s stock worth $1,380,000 after acquiring an additional 14,600 shares during the period. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Stock Performance

NASDAQ:MU opened at $93.22 on Wednesday. The stock has a market capitalization of $103.86 billion, a P/E ratio of 26.86 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. Micron Technology, Inc. has a 1 year low of $83.54 and a 1 year high of $157.54. The firm has a 50 day moving average of $95.71 and a 200-day moving average of $98.93.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.19. The firm had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business’s revenue for the quarter was up 84.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.95) EPS. As a group, sell-side analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

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 0.49%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s dividend payout ratio is currently 13.26%.

Wall Street Analysts Forecast Growth

MU has been the topic of several research analyst reports. Stifel Nicolaus decreased their price target on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Piper Sandler decreased 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. UBS Group lowered 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. The Goldman Sachs Group reduced their price objective on Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Finally, TD Cowen decreased their price objective on Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $134.96.

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 181,223 shares in the company, valued at $15,442,011.83. The trade was a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.30% of the company’s stock.

Micron Technology Company 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.