Kingswood Wealth Advisors LLC Has $927,000 Stake in Micron Technology, Inc. (NASDAQ:MU)

Kingswood Wealth Advisors LLC reduced its holdings in Micron Technology, Inc. (NASDAQ:MU) by 34.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 11,013 shares of the semiconductor manufacturer’s stock after selling 5,803 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Micron Technology were worth $927,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Highline Wealth Partners LLC bought a new stake in shares of Micron Technology during the 3rd quarter worth about $26,000. Davis Capital Management bought a new stake in Micron Technology in the 3rd quarter valued at about $30,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Micron Technology in the 2nd quarter valued at approximately $39,000. Stone House Investment Management LLC raised its position in shares of Micron Technology by 602.2% in the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 277 shares in the last quarter. Finally, True Wealth Design LLC raised its position in shares of Micron Technology by 1,096.3% in the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after buying an additional 296 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP April S. Arnzen sold 4,890 shares of the 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 sale, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.30% of the stock is currently owned by corporate insiders.

Micron Technology Stock Down 3.1 %

Shares of NASDAQ MU opened at $88.25 on Wednesday. The firm has a market cap of $98.33 billion, a PE ratio of 25.43 and a beta of 1.18. Micron Technology, Inc. has a 12-month low of $79.15 and a 12-month high of $157.54. The company’s fifty day simple moving average is $98.23 and its 200 day simple moving average is $100.80. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $8.71 billion. During the same period last year, the firm earned ($0.95) earnings per share. The business’s quarterly revenue was up 84.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Micron Technology, Inc. will post 6.29 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 issued a $0.115 dividend. The ex-dividend date was Monday, December 30th. This represents a $0.46 annualized dividend and a dividend yield of 0.52%. Micron Technology’s dividend payout ratio is currently 13.26%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on MU shares. JPMorgan Chase & Co. dropped their target price on shares of Micron Technology from $180.00 to $145.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. The Goldman Sachs Group lowered their price objective on shares of Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Bank of America cut shares of Micron Technology from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $125.00 to $110.00 in a research report on Thursday, December 19th. Cantor Fitzgerald lowered their price objective on shares of Micron Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Finally, Morgan Stanley lowered their price objective on shares of Micron Technology from $98.00 to $91.00 and set an “equal weight” rating for the company in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat.com, Micron Technology presently has an average rating of “Moderate Buy” and an average price target of $134.96.

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.