Prairie Wealth Advisors Inc. Acquires 130 Shares of Micron Technology, Inc. (NASDAQ:MU)

Prairie Wealth Advisors Inc. lifted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 5.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,472 shares of the semiconductor manufacturer’s stock after acquiring an additional 130 shares during the quarter. Prairie Wealth Advisors Inc.’s holdings in Micron Technology were worth $208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of MU. Ameliora Wealth Management Ltd. lifted its holdings in shares of Micron Technology by 41.0% during the 4th quarter. Ameliora Wealth Management Ltd. now owns 2,011 shares of the semiconductor manufacturer’s stock valued at $169,000 after buying an additional 585 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Micron Technology by 5.5% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 133,326 shares of the semiconductor manufacturer’s stock valued at $11,221,000 after acquiring an additional 7,004 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Micron Technology by 1.7% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,348,661 shares of the semiconductor manufacturer’s stock valued at $365,983,000 after acquiring an additional 72,416 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its position in Micron Technology by 7,074.7% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 294,093 shares of the semiconductor manufacturer’s stock worth $24,785,000 after purchasing an additional 289,994 shares during the last quarter. Finally, Telligent Fund LP bought a new stake in shares of Micron Technology during the 4th quarter valued at about $4,208,000. 80.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on MU shares. Cantor Fitzgerald lowered their price objective on shares of Micron Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Stifel Nicolaus decreased their price target on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. TD Cowen cut their price objective on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Piper Sandler decreased their target price on Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Finally, Bank of America lowered Micron Technology from a “buy” rating to a “neutral” rating and cut their price target for the company from $125.00 to $110.00 in a report on Thursday, December 19th. One 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, Micron Technology presently has an average rating of “Moderate Buy” and a consensus price target of $134.96.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 4,890 shares of the firm’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 transaction, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.30% of the company’s stock.

Micron Technology Stock Up 1.0 %

NASDAQ MU opened at $94.54 on Friday. Micron Technology, Inc. has a 52 week low of $79.15 and a 52 week high of $157.54. The firm has a market capitalization of $105.33 billion, a price-to-earnings ratio of 27.24 and a beta of 1.18. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The company has a fifty day moving average of $96.82 and a two-hundred day moving average of $99.34.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.71 billion. During the same period in the previous year, the company earned ($0.95) EPS. The firm’s revenue for the quarter was up 84.3% compared to the same quarter last year. On average, analysts predict that Micron Technology, Inc. will post 6.29 earnings per share for the current year.

Micron Technology Announces Dividend

The firm 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 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s dividend payout ratio (DPR) is presently 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.