Choreo LLC Sells 102,059 Shares of Micron Technology, Inc. (NASDAQ:MU)

Choreo LLC lowered its holdings in Micron Technology, Inc. (NASDAQ:MU) by 79.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,902 shares of the semiconductor manufacturer’s stock after selling 102,059 shares during the period. Choreo LLC’s holdings in Micron Technology were worth $2,287,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Highline Wealth Partners LLC bought a new stake in Micron Technology during the 3rd quarter worth approximately $26,000. True Wealth Design LLC increased its holdings in Micron Technology by 1,096.3% during the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after acquiring an additional 296 shares during the period. DT Investment Partners LLC increased its holdings in Micron Technology by 261.1% during the 3rd quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 235 shares during the period. Stone House Investment Management LLC increased its holdings in Micron Technology by 602.2% during the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 277 shares during the period. Finally, Darwin Wealth Management LLC bought a new stake in Micron Technology during the 3rd quarter worth approximately $39,000. Institutional investors own 80.84% of the company’s stock.

Analyst Upgrades and Downgrades

MU has been the topic of a number of analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Micron Technology from $180.00 to $145.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Wells Fargo & Company decreased their price target on shares of Micron Technology from $175.00 to $140.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Morgan Stanley decreased their price target on shares of Micron Technology from $98.00 to $91.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 28th. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price target on shares of Micron Technology in a report on Wednesday, December 18th. Finally, Robert W. Baird decreased their price target on shares of Micron Technology from $150.00 to $130.00 and set an “outperform” rating on the stock in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $134.96.

Micron Technology Trading Up 1.0 %

Shares of MU opened at $94.54 on Friday. The stock has a market capitalization of $105.33 billion, a P/E 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 firm has a fifty day simple moving average of $96.82 and a two-hundred day simple moving average of $99.34. 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 EPS 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 business had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.71 billion. During the same period in the prior year, the business earned ($0.95) EPS. The company’s revenue for the quarter was up 84.3% on a year-over-year basis. On average, research analysts anticipate that Micron Technology, Inc. will post 6.29 EPS for the current year.

Micron Technology Dividend Announcement

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

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now directly owns 181,223 shares in the company, valued at approximately $15,442,011.83. This trade represents a 2.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.30% of the stock is owned by company insiders.

Micron Technology Company 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.