Stonegate Investment Group LLC Boosts Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Stonegate Investment Group LLC lifted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 20.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,461 shares of the semiconductor manufacturer’s stock after buying an additional 593 shares during the quarter. Stonegate Investment Group LLC’s holdings in Micron Technology were worth $291,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Highline Wealth Partners LLC bought a new position in shares of Micron Technology in the third quarter valued at approximately $26,000. Davis Capital Management bought a new position in Micron Technology in the 3rd quarter valued at $30,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Micron Technology in the second quarter worth $39,000. Stone House Investment Management LLC increased its holdings in shares of Micron Technology by 602.2% in the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 277 shares during the period. Finally, True Wealth Design LLC increased its holdings 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 worth $33,000 after purchasing an additional 296 shares during the period. 80.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MU. Wells Fargo & Company cut their price target on shares of Micron Technology from $175.00 to $140.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. The Goldman Sachs Group reduced their target price on Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Robert W. Baird dropped 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 reduced their price objective 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. Finally, Morgan Stanley dropped their target price on Micron Technology from $98.00 to $91.00 and set an “equal weight” rating for the company in a research report on Tuesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $134.96.

Micron Technology Stock Down 3.1 %

Shares of Micron Technology stock opened at $88.25 on Wednesday. The company has a 50-day simple moving average of $98.23 and a two-hundred day simple moving average of $100.80. The stock has a market capitalization of $98.33 billion, a PE ratio of 25.43 and a beta of 1.18. Micron Technology, Inc. has a 52-week low of $79.15 and a 52-week high of $157.54. 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 (NASDAQ:MU) last posted its quarterly earnings results 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 return on equity of 8.32% and a net margin of 13.34%. The firm had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.71 billion. During the same quarter in the previous year, the business earned ($0.95) earnings per share. The company’s revenue was up 84.3% on a year-over-year basis. On average, analysts anticipate that Micron Technology, Inc. will post 6.29 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were paid 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 dividend payout ratio (DPR) is currently 13.26%.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company’s 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 completion of the sale, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. This 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 accessible through the SEC website. 0.30% of the stock is currently owned by corporate 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.