Midwest Professional Planners LTD. Purchases 337 Shares of Micron Technology, Inc. (NASDAQ:MU)

Midwest Professional Planners LTD. grew its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 4.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,678 shares of the semiconductor manufacturer’s stock after buying an additional 337 shares during the quarter. Midwest Professional Planners LTD.’s holdings in Micron Technology were worth $730,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Postrock Partners LLC bought a new stake in shares of Micron Technology during the fourth quarter worth $464,000. Intact Investment Management Inc. grew its stake in shares of Micron Technology by 11.3% during the fourth quarter. Intact Investment Management Inc. now owns 6,300 shares of the semiconductor manufacturer’s stock worth $530,000 after buying an additional 640 shares during the last quarter. Northwest Wealth Management LLC grew its stake in shares of Micron Technology by 7.4% during the fourth quarter. Northwest Wealth Management LLC now owns 2,828 shares of the semiconductor manufacturer’s stock worth $238,000 after buying an additional 196 shares during the last quarter. Blume Capital Management Inc. lifted its holdings in shares of Micron Technology by 6.4% during the fourth quarter. Blume Capital Management Inc. now owns 61,260 shares of the semiconductor manufacturer’s stock worth $5,156,000 after purchasing an additional 3,666 shares during the period. Finally, Atala Financial Inc acquired a new position in shares of Micron Technology during the fourth quarter worth $98,000. Institutional investors own 80.84% of the company’s stock.

Insiders Place Their Bets

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the transaction, the director now directly owns 27,358 shares of the company’s stock, valued at $2,542,378.94. This represents a 8.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $416,676.90. Following the transaction, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on MU shares. Robert W. Baird cut their price target on shares of Micron Technology from $150.00 to $130.00 and set an “outperform” rating on the stock in a report on Thursday, December 19th. Sanford C. Bernstein dropped their target price on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. Mizuho dropped their target price on shares of Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, December 19th. Barclays dropped their target price on shares of Micron Technology from $145.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday, December 20th. Finally, Morgan Stanley dropped their target price on shares of Micron Technology from $98.00 to $91.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $134.56.

Micron Technology Trading Down 0.8 %

NASDAQ:MU opened at $94.88 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The firm has a 50-day moving average of $96.50 and a 200-day moving average of $98.04. The company has a market cap of $105.71 billion, a PE ratio of 27.34 and a beta of 1.23. Micron Technology, Inc. has a one year low of $83.54 and a one year high of $157.54.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, topping 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 company 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 firm’s revenue for the quarter was up 84.3% on a year-over-year basis. As a group, equities research analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were given 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 13.26%.

Micron Technology Company Profile

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.