Greenwood Capital Associates LLC Grows Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Greenwood Capital Associates LLC raised its stake in Micron Technology, Inc. (NASDAQ:MU) by 21.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 59,845 shares of the semiconductor manufacturer’s stock after buying an additional 10,566 shares during the quarter. Greenwood Capital Associates LLC’s holdings in Micron Technology were worth $5,037,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of MU. E. Ohman J or Asset Management AB increased its holdings 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 valued at $4,202,000 after acquiring an additional 5,030 shares in the last quarter. Welch Group LLC grew its position in shares of Micron Technology by 6.7% in the fourth quarter. Welch Group LLC now owns 4,764 shares of the semiconductor manufacturer’s stock valued at $406,000 after purchasing an additional 300 shares during the last quarter. Calamos Wealth Management LLC increased its stake in shares of Micron Technology by 5.2% during the 4th quarter. Calamos Wealth Management LLC now owns 3,976 shares of the semiconductor manufacturer’s stock worth $335,000 after purchasing an additional 198 shares in the last quarter. Childress Capital Advisors LLC raised its position in shares of Micron Technology by 114.0% during the 4th quarter. Childress Capital Advisors LLC now owns 7,206 shares of the semiconductor manufacturer’s stock worth $606,000 after purchasing an additional 3,838 shares during the last quarter. Finally, Optas LLC lifted its stake in Micron Technology by 21.0% in the 4th quarter. Optas LLC now owns 6,341 shares of the semiconductor manufacturer’s stock valued at $534,000 after buying an additional 1,102 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was 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 $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.30% of the stock is currently owned by insiders.

Micron Technology Trading Down 0.4 %

NASDAQ:MU opened at $89.55 on Tuesday. Micron Technology, Inc. has a 12 month low of $79.15 and a 12 month high of $157.54. The business’s 50-day moving average is $97.43 and its two-hundred day moving average is $99.74. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The firm has a market capitalization of $99.77 billion, a PE ratio of 25.79 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last announced its 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 return on equity of 8.32% and a net margin of 13.34%. The business 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 business posted ($0.95) EPS. The company’s revenue was up 84.3% on a year-over-year basis. Research analysts predict that Micron Technology, Inc. will post 6.29 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s payout ratio is 13.26%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. KeyCorp dropped their price target on Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, October 8th. Stifel Nicolaus dropped their price objective on Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Rosenblatt Securities restated a “buy” rating and issued a $250.00 target price on shares of Micron Technology in a report on Wednesday, December 18th. Morgan Stanley reduced their price objective on shares of Micron Technology from $98.00 to $91.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 28th. Finally, Robert W. Baird lowered their target price on shares of Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a research note 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’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.