Micron Technology, Inc. (NASDAQ:MU) Shares Acquired by Sage Mountain Advisors LLC

Sage Mountain Advisors LLC increased its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 30.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,135 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,414 shares during the period. Sage Mountain Advisors LLC’s holdings in Micron Technology were worth $516,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Stonebrook Private Inc. raised its position in shares of Micron Technology by 4.2% during the third quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock valued at $255,000 after buying an additional 98 shares during the last quarter. John G Ullman & Associates Inc. increased its stake in Micron Technology by 2.5% during the third quarter. John G Ullman & Associates Inc. now owns 4,063 shares of the semiconductor manufacturer’s stock valued at $421,000 after acquiring an additional 100 shares during the period. Trivant Custom Portfolio Group LLC increased its stake in Micron Technology by 20.0% during the fourth quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer’s stock valued at $50,000 after acquiring an additional 100 shares during the period. Xcel Wealth Management LLC raised its holdings in Micron Technology by 1.8% in the 4th quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer’s stock valued at $518,000 after acquiring an additional 108 shares in the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its position in shares of Micron Technology by 3.8% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer’s stock worth $250,000 after acquiring an additional 108 shares during the period. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Stock Up 2.3 %

Shares of NASDAQ MU opened at $89.05 on Wednesday. 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 market cap of $99.22 billion, a price-to-earnings ratio of 25.66 and a beta of 1.23. Micron Technology, Inc. has a 12-month low of $83.54 and a 12-month high of $157.54. The firm’s 50-day simple moving average is $96.12 and its 200 day simple moving average is $98.07.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating 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 business had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.71 billion. During the same period in the prior year, the firm earned ($0.95) earnings per share. Micron Technology’s revenue was up 84.3% compared to the same quarter last year. On average, research analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were given a dividend of $0.115 per share. The ex-dividend date was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.52%. Micron Technology’s payout ratio is currently 13.26%.

Insider Transactions at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology 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 sale, the director now owns 27,358 shares in the company, valued at $2,542,378.94. The trade was a 8.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 completion of the transaction, the executive vice president now owns 181,223 shares in the company, 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 corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on MU shares. Sanford C. Bernstein lowered their price objective on Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. Needham & Company LLC lowered their price target on shares of Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Piper Sandler dropped their price objective on shares of Micron Technology from $150.00 to $120.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Stifel Nicolaus decreased their target price 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. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $250.00 target price on shares of Micron Technology in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $134.96.

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.