Valliance Asset Management Ltd Takes $277,000 Position in Micron Technology, Inc. (NASDAQ:MU)

Valliance Asset Management Ltd acquired a new stake in Micron Technology, Inc. (NASDAQ:MU) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,292 shares of the semiconductor manufacturer’s stock, valued at approximately $277,000. Micron Technology accounts for 0.5% of Valliance Asset Management Ltd’s portfolio, making the stock its 16th biggest holding.

Several other hedge funds have also bought and sold shares of MU. Highline Wealth Partners LLC bought a new stake in Micron Technology during the third quarter valued at approximately $26,000. Beacon Capital Management LLC lifted its position in Micron Technology by 114.9% during the fourth 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 last quarter. True Wealth Design LLC lifted its position in Micron Technology by 1,096.3% during the third 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 last quarter. DT Investment Partners LLC lifted 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 lifted 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 worth $34,000 after acquiring an additional 277 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Rosenblatt Securities restated a “buy” rating and issued a $250.00 price objective on shares of Micron Technology in a report on Wednesday, December 18th. Wells Fargo & Company lowered their price objective on shares of Micron Technology from $175.00 to $140.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Wedbush restated an “outperform” rating and issued a $140.00 price objective on shares of Micron Technology in a report on Tuesday, December 17th. Sanford C. Bernstein lowered their price objective on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. Finally, TD Cowen lowered their price objective on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $134.96.

Insider Activity

In related news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were 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 $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 available at this hyperlink. Company insiders own 0.30% of the company’s stock.

Micron Technology Stock Down 4.3 %

Shares of Micron Technology stock opened at $98.78 on Friday. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The company’s fifty day simple moving average is $96.28 and its two-hundred day simple moving average is $98.82. The company has a market cap of $110.06 billion, a P/E ratio of 28.47 and a beta of 1.18. Micron Technology, Inc. has a 12-month low of $83.54 and a 12-month high of $157.54.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $8.71 billion. During the same quarter in the previous year, the business posted ($0.95) EPS. The company’s quarterly revenue was up 84.3% on a year-over-year basis. Research analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders 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 dividend yield of 0.47%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s dividend payout ratio (DPR) is presently 13.26%.

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.