Grant Private Wealth Management Inc Makes New Investment in Micron Technology, Inc. (NASDAQ:MU)

Grant Private Wealth Management Inc acquired a new stake in Micron Technology, Inc. (NASDAQ:MU) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,990 shares of the semiconductor manufacturer’s stock, valued at approximately $336,000.

A number of other institutional investors have also modified their holdings of the company. Beacon Capital Management LLC lifted its position in Micron Technology by 114.9% during the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after buying an additional 200 shares in the last quarter. Midwest Capital Advisors LLC purchased a new position in shares of Micron Technology in the 4th quarter valued at $33,000. Comprehensive Financial Planning Inc. PA acquired a new position in shares of Micron Technology during the 4th quarter valued at $34,000. Curio Wealth LLC purchased a new stake in Micron Technology during the 4th quarter worth $34,000. Finally, Activest Wealth Management increased its holdings in Micron Technology by 583.3% in the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 350 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Cantor Fitzgerald restated an “overweight” rating and set a $130.00 price objective on shares of Micron Technology in a research note on Friday, March 21st. Bank of America lowered Micron Technology from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $125.00 to $110.00 in a research report on Thursday, December 19th. KGI Securities raised shares of Micron Technology to a “strong-buy” rating in a research report on Friday, February 21st. JPMorgan Chase & Co. reduced their target price on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research report on Friday, March 21st. Finally, Barclays upped their target price on shares of Micron Technology from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $129.76.

Micron Technology Stock Down 0.1 %

Shares of NASDAQ:MU opened at $88.60 on Thursday. The company’s fifty day moving average is $94.80 and its two-hundred day moving average is $98.42. 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, Inc. has a 1-year low of $82.42 and a 1-year high of $157.54. The stock has a market capitalization of $99.02 billion, a price-to-earnings ratio of 25.53 and a beta of 1.23.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.13. The firm had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. Micron Technology’s quarterly revenue was up 38.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.42 earnings per share. Equities analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.52%. The ex-dividend date is Monday, March 31st. Micron Technology’s dividend payout ratio is presently 11.03%.

Insider Buying and Selling at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the completion of the transaction, the director now owns 27,358 shares of the company’s stock, valued at approximately $2,542,378.94. This represents a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP April S. Arnzen sold 15,000 shares of the firm’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the transaction, the executive vice president now directly owns 164,769 shares in the company, valued at $15,847,482.42. This trade represents a 8.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.