Micron Technology, Inc. (NASDAQ:MU) Shares Acquired by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. grew its holdings in Micron Technology, Inc. (NASDAQ:MU) by 6.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 7,203 shares of the semiconductor manufacturer’s stock after buying an additional 408 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Micron Technology were worth $606,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of MU. Beacon Capital Management LLC increased its stake in 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 purchasing an additional 200 shares in the last quarter. True Wealth Design LLC increased its stake in Micron Technology by 1,096.3% in 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 in the last quarter. Midwest Capital Advisors LLC purchased a new position in Micron Technology in the 4th quarter valued at approximately $33,000. Stone House Investment Management LLC increased its stake in 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 purchasing an additional 277 shares in the last quarter. Finally, Activest Wealth Management increased its stake in Micron Technology by 583.3% in the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 350 shares in the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on MU shares. JPMorgan Chase & Co. dropped their price objective 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. Sanford C. Bernstein dropped their price objective on Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, December 18th. UBS Group dropped their price objective on Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. KGI Securities raised Micron Technology to a “strong-buy” rating in a research report on Friday, February 21st. Finally, Bank of America downgraded Micron Technology from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $125.00 to $110.00 in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $134.96.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the transaction, the executive vice president now owns 181,223 shares in the company, 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 document filed with the SEC, which is available through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the transaction, the director now owns 27,358 shares in the company, valued at approximately $2,542,378.94. This represents a 8.08 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

Micron Technology Price Performance

Shares of Micron Technology stock opened at $95.64 on Thursday. Micron Technology, Inc. has a twelve month low of $83.54 and a twelve month high of $157.54. The stock has a market capitalization of $106.56 billion, a P/E ratio of 27.56 and a beta of 1.23. 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 business’s fifty day moving average price is $96.35 and its 200 day moving average price is $98.06.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $8.71 billion. During the same quarter last year, the firm earned ($0.95) earnings per share. The firm’s revenue for the quarter was up 84.3% compared to the same quarter last year. As a group, research analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s 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.