Micron Technology, Inc. (NASDAQ:MU) Stock Position Lowered by Westside Investment Management Inc.

Westside Investment Management Inc. trimmed its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 4.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,273 shares of the semiconductor manufacturer’s stock after selling 629 shares during the period. Westside Investment Management Inc.’s holdings in Micron Technology were worth $1,201,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC purchased a new stake in Micron Technology in the 3rd quarter worth approximately $26,000. Davis Capital Management acquired a new position in shares of Micron Technology in the third quarter worth $30,000. True Wealth Design LLC raised its holdings in shares of Micron Technology by 1,096.3% during the third 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 boosted its position in Micron Technology by 261.1% during the third 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 boosted its position in Micron Technology by 602.2% during the third 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 last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on MU. UBS Group reduced their price objective on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Wedbush reaffirmed an “outperform” rating and issued a $140.00 price target on shares of Micron Technology in a research report on Tuesday, December 17th. Mizuho lowered their price objective on Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, December 19th. The Goldman Sachs Group cut their price objective on Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Finally, Morgan Stanley decreased their target price on Micron Technology from $114.00 to $98.00 and set an “equal weight” rating for the company in a research 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 given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $135.24.

Micron Technology Stock Down 0.9 %

NASDAQ MU opened at $108.44 on Wednesday. The stock’s 50 day simple moving average is $97.92 and its 200 day simple moving average is $101.65. Micron Technology, Inc. has a one year low of $79.15 and a one year high of $157.54. The firm has a market cap of $120.82 billion, a PE ratio of 31.24 and a beta of 1.18. 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 issued its quarterly earnings results 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 business had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.71 billion. During the same quarter in the prior year, the company earned ($0.95) EPS. The firm’s quarterly revenue was up 84.3% on a year-over-year basis. As a group, sell-side analysts forecast that Micron Technology, Inc. will post 6.25 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 $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s dividend payout ratio is 13.26%.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on 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 owns 181,223 shares in the company, valued at approximately $15,442,011.83. The trade was a 2.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.30% of the company’s stock.

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.