Butensky & Cohen Financial Security Inc. Purchases 3,145 Shares of Micron Technology, Inc. (NASDAQ:MU)

Butensky & Cohen Financial Security Inc. raised its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 8.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 42,496 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,145 shares during the period. Butensky & Cohen Financial Security Inc.’s holdings in Micron Technology were worth $3,576,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of MU. Wealthcare Advisory Partners LLC raised its position in shares of Micron Technology by 22.1% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 17,765 shares of the semiconductor manufacturer’s stock valued at $1,495,000 after purchasing an additional 3,217 shares during the period. Goldstone Financial Group LLC raised its holdings in Micron Technology by 27.0% during the fourth quarter. Goldstone Financial Group LLC now owns 2,830 shares of the semiconductor manufacturer’s stock valued at $238,000 after acquiring an additional 602 shares during the period. Occidental Asset Management LLC lifted its position in shares of Micron Technology by 4.0% in the fourth quarter. Occidental Asset Management LLC now owns 4,118 shares of the semiconductor manufacturer’s stock valued at $347,000 after acquiring an additional 158 shares in the last quarter. Empirical Asset Management LLC bought a new position in shares of Micron Technology in the fourth quarter worth about $4,394,000. Finally, Eagle Rock Investment Company LLC grew its position in shares of Micron Technology by 0.6% during the fourth quarter. Eagle Rock Investment Company LLC now owns 64,467 shares of the semiconductor manufacturer’s stock worth $5,426,000 after purchasing an additional 365 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Stock Up 3.1 %

Micron Technology stock opened at $105.75 on Friday. 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 firm has a market cap of $117.82 billion, a P/E ratio of 30.48 and a beta of 1.18. The business has a fifty day moving average of $98.00 and a two-hundred day moving average of $102.66. Micron Technology, Inc. has a twelve month low of $79.15 and a twelve month high of $157.54.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $8.71 billion. During the same period in the prior year, the business posted ($0.95) EPS. The firm’s quarterly revenue was up 84.3% on a year-over-year basis. On average, analysts forecast that Micron Technology, Inc. will post 6.25 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date was Monday, December 30th. Micron Technology’s payout ratio is currently 13.26%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Mizuho lowered their price target on Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, December 19th. KeyCorp lowered their target price on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 8th. JPMorgan Chase & Co. cut their target price on shares of Micron Technology from $180.00 to $145.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Bank of America cut shares of Micron Technology from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $125.00 to $110.00 in a research note on Thursday, December 19th. Finally, Needham & Company LLC cut their price objective on Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company 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 and twenty-three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $135.24.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction on 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 directly owns 181,223 shares in the company, valued at $15,442,011.83. The trade was a 2.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.30% of the stock is currently owned by company insiders.

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.