Confluence Wealth Services Inc. Raises Holdings in Micron Technology, Inc. (NASDAQ:MU)

Confluence Wealth Services Inc. lifted its stake in Micron Technology, Inc. (NASDAQ:MU) by 81.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,704 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,660 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Micron Technology were worth $312,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Stratos Wealth Advisors LLC increased its holdings in shares of Micron Technology by 2.5% in the fourth quarter. Stratos Wealth Advisors LLC now owns 8,208 shares of the semiconductor manufacturer’s stock valued at $691,000 after purchasing an additional 204 shares during the period. Avitas Wealth Management LLC boosted its position in Micron Technology by 0.6% in the fourth quarter. Avitas Wealth Management LLC now owns 24,553 shares of the semiconductor manufacturer’s stock valued at $2,066,000 after buying an additional 137 shares during the last quarter. Greenwood Capital Associates LLC increased its holdings in Micron Technology by 21.4% in the 4th quarter. Greenwood Capital Associates LLC now owns 59,845 shares of the semiconductor manufacturer’s stock worth $5,037,000 after buying an additional 10,566 shares during the period. E. Ohman J or Asset Management AB raised its position in Micron Technology by 11.2% during the 4th quarter. E. Ohman J or Asset Management AB now owns 49,930 shares of the semiconductor manufacturer’s stock worth $4,202,000 after buying an additional 5,030 shares during the last quarter. Finally, Welch Group LLC lifted its stake in Micron Technology by 6.7% during the 4th quarter. Welch Group LLC now owns 4,764 shares of the semiconductor manufacturer’s stock valued at $406,000 after acquiring an additional 300 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.

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 shares were sold at an average price of $85.21, for a total value 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 price objective on shares of Micron Technology in a research note on Wednesday, December 18th. Morgan Stanley cut their price target on Micron Technology from $98.00 to $91.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 28th. TD Cowen decreased their price objective on Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Piper Sandler reduced their price target on Micron Technology from $150.00 to $120.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Finally, Cantor Fitzgerald lowered their price objective on Micron Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a research 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 given a buy rating to the company’s stock. Based on data from MarketBeat.com, Micron Technology has an average rating of “Moderate Buy” and a consensus target price of $134.96.

Micron Technology Trading Up 3.2 %

Shares of MU stock opened at $93.60 on Thursday. Micron Technology, Inc. has a fifty-two week low of $79.15 and a fifty-two week high of $157.54. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The stock’s fifty day moving average is $96.91 and its two-hundred day moving average is $99.38. The firm has a market capitalization of $104.29 billion, a P/E ratio of 26.97 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share 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 firm had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.71 billion. During the same period last year, the firm posted ($0.95) earnings per share. The company’s revenue for the quarter was up 84.3% on a year-over-year basis. Research analysts expect that Micron Technology, Inc. will post 6.29 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were given a $0.115 dividend. The ex-dividend date was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.49%. Micron Technology’s dividend payout ratio (DPR) is presently 13.26%.

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.