Cooper Financial Group Raises Holdings in Micron Technology, Inc. (NASDAQ:MU)

Cooper Financial Group raised its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 8.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 12,553 shares of the semiconductor manufacturer’s stock after buying an additional 1,020 shares during the quarter. Cooper Financial Group’s holdings in Micron Technology were worth $1,056,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC purchased a new stake in Micron Technology during the 3rd quarter worth $26,000. Davis Capital Management purchased a new stake in shares of Micron Technology in the third quarter worth about $30,000. True Wealth Design LLC grew its stake 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 valued at $33,000 after buying an additional 296 shares in the last quarter. DT Investment Partners LLC raised 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 buying an additional 235 shares during the period. Finally, Stone House Investment Management LLC lifted its position in Micron Technology by 602.2% during the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 277 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the firm’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 completion of the transaction, the executive vice president now owns 181,223 shares of the company’s stock, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 price objective on shares of Micron Technology in a research note on Wednesday, December 18th. Raymond James boosted their price objective on shares of Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Stifel Nicolaus lowered their target price on Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. TD Cowen cut their price target on Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Finally, Wells Fargo & Company lowered their price objective on Micron Technology from $175.00 to $140.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $135.24.

Micron Technology Stock Performance

MU opened at $95.06 on Tuesday. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. The business’s 50 day moving average is $98.55 and its 200-day moving average is $102.89. The stock has a market cap of $105.90 billion, a PE ratio of 139.80 and a beta of 1.16. Micron Technology, Inc. has a twelve month low of $79.15 and a twelve month high of $157.54.

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. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The firm had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.71 billion. During the same quarter in the previous year, the business earned ($0.95) EPS. The firm’s revenue for the quarter was up 84.3% on a year-over-year basis. On average, analysts predict that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 30th will be given a $0.115 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a yield of 0.48%. Micron Technology’s dividend payout ratio is presently 67.65%.

Micron Technology 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.