Micron Technology, Inc. (NASDAQ:MU) Shares Acquired by Moran Wealth Management LLC

Moran Wealth Management LLC raised its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 258.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 46,696 shares of the semiconductor manufacturer’s stock after acquiring an additional 33,685 shares during the quarter. Moran Wealth Management LLC’s holdings in Micron Technology were worth $3,930,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in MU. Beacon Capital Management LLC boosted its position in shares of Micron Technology by 114.9% in the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after purchasing an additional 200 shares during the period. True Wealth Design LLC boosted 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 purchasing an additional 296 shares during the period. Midwest Capital Advisors LLC acquired a new stake in shares of Micron Technology in the 4th quarter valued at about $33,000. Stone House Investment Management LLC boosted 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 purchasing an additional 277 shares during the period. Finally, Activest Wealth Management boosted its position in shares of Micron Technology by 583.3% in the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 350 shares during the period. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Stock Performance

NASDAQ MU opened at $87.08 on Tuesday. Micron Technology, Inc. has a 1-year low of $83.54 and a 1-year high of $157.54. The company has a market capitalization of $97.02 billion, a P/E ratio of 25.10 and a beta of 1.23. The business has a 50 day moving average price of $96.02 and a 200 day moving average price of $98.17. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75.

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 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 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) EPS. Micron Technology’s quarterly revenue was up 84.3% on a year-over-year basis. Sell-side analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders 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 0.53%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s dividend payout ratio (DPR) is presently 13.26%.

Analyst Upgrades and Downgrades

MU has been the subject of a number of research analyst reports. Needham & Company LLC decreased their target price on Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Bank of America downgraded Micron Technology from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $125.00 to $110.00 in a research note on Thursday, December 19th. Cantor Fitzgerald reduced their price objective on Micron Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Stifel Nicolaus reduced their price objective on Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Finally, Mizuho reduced their price objective on Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Micron Technology has a consensus rating of “Moderate Buy” and a consensus target price of $134.96.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction 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 sale, the executive vice president now owns 181,223 shares in the company, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total value of $223,403.72. Following the sale, the director now owns 27,358 shares in the company, valued at approximately $2,542,378.94. This trade represents a 8.08 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

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.