Dakota Wealth Management Has $1.85 Million Holdings in Micron Technology, Inc. (NASDAQ:MU)

Dakota Wealth Management lessened its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 59.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,923 shares of the semiconductor manufacturer’s stock after selling 32,714 shares during the period. Dakota Wealth Management’s holdings in Micron Technology were worth $1,845,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Gabelli Funds LLC boosted its position in shares of Micron Technology by 1.8% during the 2nd quarter. Gabelli Funds LLC now owns 22,705 shares of the semiconductor manufacturer’s stock worth $2,986,000 after acquiring an additional 405 shares in the last quarter. Public Sector Pension Investment Board boosted its position in shares of Micron Technology by 73.2% during the 2nd quarter. Public Sector Pension Investment Board now owns 42,583 shares of the semiconductor manufacturer’s stock worth $5,601,000 after acquiring an additional 17,997 shares in the last quarter. Magnetar Financial LLC acquired a new stake in shares of Micron Technology during the 2nd quarter worth approximately $231,000. Insigneo Advisory Services LLC boosted its position in shares of Micron Technology by 21.8% during the 2nd quarter. Insigneo Advisory Services LLC now owns 10,463 shares of the semiconductor manufacturer’s stock worth $1,376,000 after acquiring an additional 1,874 shares in the last quarter. Finally, AlTi Global Inc. boosted its position in shares of Micron Technology by 4.8% during the 2nd quarter. AlTi Global Inc. now owns 3,766 shares of the semiconductor manufacturer’s stock worth $495,000 after acquiring an additional 172 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Activity

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the completion of the transaction, the executive vice president now directly owns 181,223 shares in the company, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. TD Cowen reduced their price target 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. UBS Group cut 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. Cantor Fitzgerald cut their target price on shares of Micron Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Wells Fargo & Company cut their target price on shares of Micron Technology from $175.00 to $140.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Finally, Susquehanna cut their target price on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a research report on Thursday, September 26th. One investment 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $135.24.

Micron Technology Trading Down 4.0 %

MU opened at $104.84 on Friday. Micron Technology, Inc. has a 1-year low of $79.15 and a 1-year high of $157.54. 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 company has a market cap of $116.81 billion, a P/E ratio of 30.21 and a beta of 1.18. The company has a fifty day moving average price of $98.11 and a two-hundred day moving average price of $101.70.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating 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 firm had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. During the same period in the previous year, the firm posted ($0.95) earnings per share. The business’s revenue was up 84.3% compared to the same quarter last year. Analysts predict that Micron Technology, Inc. will post 6.25 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm 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. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date was Monday, December 30th. Micron Technology’s dividend payout ratio is currently 13.26%.

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.