Choate Investment Advisors Raises Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Choate Investment Advisors grew its stake in Micron Technology, Inc. (NASDAQ:MU) by 34.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,733 shares of the semiconductor manufacturer’s stock after buying an additional 695 shares during the period. Choate Investment Advisors’ holdings in Micron Technology were worth $230,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Beacon Capital Management LLC boosted its stake in shares of Micron Technology by 114.9% in the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after acquiring an additional 200 shares during the period. True Wealth Design LLC raised its position in Micron Technology by 1,096.3% during the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after purchasing an additional 296 shares during the period. Midwest Capital Advisors LLC purchased a new stake in Micron Technology during the fourth quarter valued at approximately $33,000. Stone House Investment Management LLC raised its holdings in shares of Micron Technology by 602.2% in the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 277 shares during the period. Finally, Activest Wealth Management raised its holdings in shares of Micron Technology by 583.3% in the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 350 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Performance

Shares of MU opened at $103.11 on Tuesday. The stock has a 50-day moving average of $96.80 and a two-hundred day moving average of $98.13. Micron Technology, Inc. has a one year low of $83.54 and a one year 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 has a market cap of $114.88 billion, a P/E ratio of 29.71 and a beta of 1.23.

Micron Technology (NASDAQ:MU) last issued 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 return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.71 billion. During the same quarter in the previous year, the firm posted ($0.95) EPS. The firm’s revenue was up 84.3% compared to the same quarter last year. As a group, research analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were paid a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.45%. Micron Technology’s payout ratio is currently 13.26%.

Insider Buying and Selling at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of Micron Technology 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 completion of the transaction, the executive vice president now owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on MU shares. Sanford C. Bernstein reduced their price target on Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 target price on shares of Micron Technology in a research report on Wednesday, December 18th. UBS Group increased their target price on Micron Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Monday. Piper Sandler dropped their target price on Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Finally, TD Cowen dropped their target price on Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Micron Technology has a consensus rating of “Moderate Buy” and a consensus price target of $134.16.

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.