Deane Retirement Strategies Inc. Acquires New Holdings in Micron Technology, Inc. (NASDAQ:MU)

Deane Retirement Strategies Inc. bought a new stake in Micron Technology, Inc. (NASDAQ:MU) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 32,135 shares of the semiconductor manufacturer’s stock, valued at approximately $2,704,000.

A number of other large investors have also added to or reduced their stakes in the company. Ascent Group LLC increased its position in shares of Micron Technology by 4.2% in the 2nd quarter. Ascent Group LLC now owns 3,306 shares of the semiconductor manufacturer’s stock valued at $435,000 after acquiring an additional 133 shares during the period. Creative Planning increased its holdings in shares of Micron Technology by 12.4% in the second quarter. Creative Planning now owns 149,606 shares of the semiconductor manufacturer’s stock valued at $19,678,000 after purchasing an additional 16,463 shares during the period. Quarry LP lifted its holdings in shares of Micron Technology by 130.5% during the second quarter. Quarry LP now owns 604 shares of the semiconductor manufacturer’s stock worth $79,000 after purchasing an additional 342 shares during the period. B. Riley Wealth Advisors Inc. increased its holdings in Micron Technology by 4.3% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 28,124 shares of the semiconductor manufacturer’s stock worth $3,699,000 after buying an additional 1,160 shares during the period. Finally, EP Wealth Advisors LLC raised its position in Micron Technology by 43.1% during the 2nd quarter. EP Wealth Advisors LLC now owns 16,686 shares of the semiconductor manufacturer’s stock worth $2,195,000 after buying an additional 5,024 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Stock Down 3.1 %

Shares of MU opened at $88.25 on Wednesday. The company’s 50-day simple moving average is $98.23 and its 200-day simple moving average is $100.80. 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 $79.15 and a 1 year high of $157.54. The stock has a market capitalization of $98.33 billion, a PE ratio of 25.43 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates 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 company’s revenue was up 84.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.95) earnings per share. Analysts forecast that Micron Technology, Inc. will post 6.29 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

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 $0.115 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.52%. Micron Technology’s payout ratio is 13.26%.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were 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 in the company, valued at $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. The Goldman Sachs Group lowered their price target on shares of Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Robert W. Baird cut their price target on Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a research note on Thursday, December 19th. Needham & Company LLC lowered their price target on Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. 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. Finally, JPMorgan Chase & Co. reduced their target price on Micron Technology from $180.00 to $145.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $134.96.

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.