D.A. Davidson & CO. Lowers Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

D.A. Davidson & CO. lowered its stake in Micron Technology, Inc. (NASDAQ:MU) by 13.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 59,739 shares of the semiconductor manufacturer’s stock after selling 9,105 shares during the quarter. D.A. Davidson & CO.’s holdings in Micron Technology were worth $5,028,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Highline Wealth Partners LLC bought a new position in shares of Micron Technology during the 3rd quarter valued at about $26,000. Stone House Investment Management LLC boosted its holdings in shares of Micron Technology by 602.2% during the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 277 shares during the last quarter. True Wealth Design LLC boosted its holdings in shares of Micron Technology by 1,096.3% during the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after purchasing an additional 296 shares during the last quarter. DT Investment Partners LLC boosted its holdings in shares of Micron Technology by 261.1% during the 3rd quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 235 shares during the last quarter. Finally, Beacon Capital Management LLC lifted its holdings in shares of Micron Technology by 114.9% in the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after acquiring an additional 200 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction 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 in the company, valued at approximately $15,442,011.83. The trade was a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.30% of the stock is owned by insiders.

Micron Technology Price Performance

NASDAQ MU opened at $104.36 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The firm’s 50 day moving average price is $96.25 and its 200-day moving average price is $98.67. Micron Technology, Inc. has a 52-week low of $79.15 and a 52-week high of $157.54. The company has a market cap of $116.27 billion, a PE ratio of 30.07 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last announced its 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. The company had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. Micron Technology’s revenue was up 84.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.95) earnings per share. Sell-side analysts forecast that Micron Technology, Inc. will post 6.21 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were paid a $0.115 dividend. The ex-dividend date was Monday, December 30th. This represents a $0.46 annualized dividend and a yield of 0.44%. Micron Technology’s dividend payout ratio (DPR) is 13.26%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Cantor Fitzgerald lowered their price target on shares of Micron Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Barclays lowered their price target on shares of Micron Technology from $145.00 to $110.00 and set an “overweight” rating for the company in a report on Friday, December 20th. Needham & Company LLC lowered their price target on shares of Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Wells Fargo & Company lowered their price target on shares of Micron Technology from $175.00 to $140.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Finally, China Renaissance assumed coverage on shares of Micron Technology in a report on Monday, October 28th. They issued a “buy” rating and a $148.00 price target for the company. One equities research 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 company’s stock. Based on data from MarketBeat.com, the stock 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.