PSI Advisors LLC Grows Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

PSI Advisors LLC lifted its position in Micron Technology, Inc. (NASDAQ:MU) by 27.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,553 shares of the semiconductor manufacturer’s stock after purchasing an additional 775 shares during the quarter. PSI Advisors LLC’s holdings in Micron Technology were worth $299,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of MU. Highline Wealth Partners LLC purchased a new stake in Micron Technology during the third quarter valued at about $26,000. Davis Capital Management purchased a new stake in Micron Technology during the 3rd quarter valued at about $30,000. Strategic Investment Solutions Inc. IL bought a new position in Micron Technology during the 2nd quarter worth approximately $39,000. Cranbrook Wealth Management LLC purchased a new position in Micron Technology in the 2nd quarter worth approximately $42,000. Finally, Stone House Investment Management LLC lifted its position in Micron Technology by 602.2% in 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 institutional investors.

Micron Technology Trading Down 4.3 %

Shares of MU stock opened at $95.06 on Tuesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. The company has a market cap of $105.90 billion, a price-to-earnings ratio of 139.80 and a beta of 1.16. Micron Technology, Inc. has a 1 year low of $79.15 and a 1 year high of $157.54. The firm has a fifty day moving average price of $98.55 and a 200-day moving average price of $102.89.

Micron Technology (NASDAQ:MU) last posted 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 return on equity of 1.58% and a net margin of 3.10%. The firm had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.71 billion. During the same period in the previous year, the firm earned ($0.95) EPS. The business’s quarterly revenue was up 84.3% on a year-over-year basis. As a group, equities analysts predict that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 30th will be given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.48%. The ex-dividend date is Monday, December 30th. Micron Technology’s dividend payout ratio is currently 67.65%.

Analyst Ratings Changes

A number of research analysts recently issued reports on MU shares. KeyCorp reduced their price target on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 8th. Cantor Fitzgerald decreased their target price on Micron Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Stifel Nicolaus cut their price target on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Citigroup decreased their price objective on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Finally, Susquehanna cut their target price on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a research note on Thursday, September 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat, Micron Technology presently has an average rating of “Moderate Buy” and a consensus target price of $135.24.

Insider Activity at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.30% of the stock is owned by corporate insiders.

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.