Micron Technology, Inc. (NASDAQ:MU) is Spectrum Financial Alliance Ltd LLC’s 8th Largest Position

Spectrum Financial Alliance Ltd LLC increased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 178.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 187,856 shares of the semiconductor manufacturer’s stock after buying an additional 120,300 shares during the period. Micron Technology comprises 5.5% of Spectrum Financial Alliance Ltd LLC’s investment portfolio, making the stock its 8th largest holding. Spectrum Financial Alliance Ltd LLC’s holdings in Micron Technology were worth $15,810,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC purchased a new position in shares of Micron Technology in the 3rd quarter valued at about $26,000. Beacon Capital Management LLC lifted its stake in 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 last quarter. True Wealth Design LLC grew 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 in the last quarter. DT Investment Partners LLC increased its position in shares of Micron Technology by 261.1% in the 3rd quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 235 shares during the last quarter. Finally, Stone House Investment Management LLC raised its holdings 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 purchasing an additional 277 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on MU shares. Bank of America lowered Micron Technology from a “buy” rating to a “neutral” rating and dropped their target price for the company from $125.00 to $110.00 in a report on Thursday, December 19th. JPMorgan Chase & Co. cut their target price on Micron Technology from $180.00 to $145.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 price target on shares of Micron Technology in a report on Wednesday, December 18th. UBS Group cut their price objective on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Finally, China Renaissance assumed coverage on Micron Technology in a research report on Monday, October 28th. They set a “buy” rating and a $148.00 target price on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.96.

Micron Technology Stock Performance

Shares of NASDAQ MU opened at $98.78 on Friday. Micron Technology, Inc. has a 52 week low of $83.54 and a 52 week high of $157.54. The stock has a market capitalization of $110.06 billion, a PE ratio of 28.47 and a beta of 1.18. 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 50 day moving average price of $96.28 and a 200 day moving average price of $98.82.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (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 firm had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. During the same period last year, the business posted ($0.95) earnings per share. The business’s revenue for the quarter was up 84.3% compared to the same quarter last year. Analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s payout ratio is currently 13.26%.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $15,442,011.83. The trade was a 2.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.30% of the company’s stock.

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.