Next Level Wealth Planning LLC Takes $404,000 Position in Micron Technology, Inc. (NASDAQ:MU)

Next Level Wealth Planning LLC bought a new stake in Micron Technology, Inc. (NASDAQ:MU) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,796 shares of the semiconductor manufacturer’s stock, valued at approximately $404,000. Micron Technology makes up approximately 0.3% of Next Level Wealth Planning LLC’s holdings, making the stock its 25th biggest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MU. Stonebrook Private Inc. boosted its stake in Micron Technology by 4.2% in the 3rd quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock valued at $255,000 after purchasing an additional 98 shares during the period. John G Ullman & Associates Inc. lifted its position in shares of Micron Technology by 2.5% during the 3rd quarter. John G Ullman & Associates Inc. now owns 4,063 shares of the semiconductor manufacturer’s stock valued at $421,000 after acquiring an additional 100 shares during the period. Trivant Custom Portfolio Group LLC lifted its position in shares of Micron Technology by 20.0% during the 4th quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer’s stock valued at $50,000 after acquiring an additional 100 shares during the period. Trust Co. of Vermont lifted its position in shares of Micron Technology by 14.3% during the 3rd quarter. Trust Co. of Vermont now owns 821 shares of the semiconductor manufacturer’s stock valued at $85,000 after acquiring an additional 103 shares during the period. Finally, PDS Planning Inc lifted its position in shares of Micron Technology by 2.4% during the 3rd quarter. PDS Planning Inc now owns 4,382 shares of the semiconductor manufacturer’s stock valued at $454,000 after acquiring an additional 104 shares during the period. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MU has been the subject of a number of recent analyst reports. Cantor Fitzgerald cut their target price on Micron Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Stifel Nicolaus cut their target price 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. UBS Group cut their target price on Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Mizuho lowered their price target on Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. Finally, Bank of America cut Micron Technology from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $125.00 to $110.00 in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat, Micron Technology currently has an average rating of “Moderate Buy” and an average target price of $134.96.

Micron Technology Trading Up 4.0 %

Shares of MU stock opened at $99.52 on Friday. The stock has a market cap of $110.88 billion, a price-to-earnings ratio of 28.68 and a beta of 1.18. The stock has a 50-day moving average of $96.10 and a 200-day moving average of $98.65. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 1-year low of $79.15 and a 1-year high of $157.54.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results 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 company had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.71 billion. During the same quarter in the prior year, the firm posted ($0.95) earnings per share. The business’s quarterly revenue was up 84.3% on a year-over-year basis. On average, equities research analysts forecast that Micron Technology, Inc. will post 6.29 earnings per share for the current year.

Micron Technology Announces Dividend

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

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.30% of the stock is owned by corporate insiders.

Micron Technology Company 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.