Micron Technology, Inc. (NASDAQ:MU) Shares Purchased by Occidental Asset Management LLC

Occidental Asset Management LLC boosted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 4.0% in the fourth quarter, Holdings Channel reports. The fund owned 4,118 shares of the semiconductor manufacturer’s stock after purchasing an additional 158 shares during the period. Occidental Asset Management LLC’s holdings in Micron Technology were worth $347,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Highline Wealth Partners LLC purchased a new position in Micron Technology during the third quarter worth about $26,000. Davis Capital Management acquired a new position in Micron Technology during the 3rd quarter worth approximately $30,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Micron Technology during the 2nd quarter worth approximately $39,000. Stone House Investment Management LLC lifted its holdings in shares of Micron Technology by 602.2% in the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 277 shares during the period. Finally, True Wealth Design LLC boosted its stake in shares of Micron Technology by 1,096.3% in the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after buying an additional 296 shares in the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.30% of the company’s stock.

Micron Technology Stock Performance

Micron Technology stock opened at $102.60 on Friday. The stock has a fifty day moving average price of $98.21 and a 200 day moving average price of $102.66. 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 52 week low of $79.15 and a 52 week high of $157.54. The firm has a market capitalization of $114.31 billion, a P/E ratio of 29.57 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data 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. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. During the same period in the prior year, the firm posted ($0.95) EPS. The company’s revenue was up 84.3% on a year-over-year basis. Equities research analysts anticipate that Micron Technology, Inc. will post 6.25 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were issued a dividend of $0.115 per share. The ex-dividend date was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.45%. Micron Technology’s payout ratio is 13.26%.

Analysts Set New Price Targets

Several research firms have issued reports on MU. Cantor Fitzgerald cut their price objective on Micron Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Bank of America downgraded shares of Micron Technology from a “buy” rating to a “neutral” rating and cut their price target for the company from $125.00 to $110.00 in a report on Thursday, December 19th. Susquehanna decreased their price objective on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a report on Thursday, September 26th. Sanford C. Bernstein dropped their target price on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. Finally, UBS Group decreased 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have issued 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 target price of $135.24.

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.