Nwam LLC Has $1.42 Million Stake in Micron Technology, Inc. (NASDAQ:MU)

Nwam LLC lifted its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 4.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,809 shares of the semiconductor manufacturer’s stock after buying an additional 754 shares during the period. Nwam LLC’s holdings in Micron Technology were worth $1,415,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of MU. NewEdge Wealth LLC lifted its position in shares of Micron Technology by 1.0% in the fourth quarter. NewEdge Wealth LLC now owns 34,720 shares of the semiconductor manufacturer’s stock worth $2,922,000 after purchasing an additional 359 shares in the last quarter. National Pension Service boosted its stake in shares of Micron Technology by 1.1% during the 4th quarter. National Pension Service now owns 2,605,763 shares of the semiconductor manufacturer’s stock worth $219,301,000 after buying an additional 28,457 shares during the last quarter. Lake Street Advisors Group LLC grew its holdings in shares of Micron Technology by 6.9% in the 4th quarter. Lake Street Advisors Group LLC now owns 10,201 shares of the semiconductor manufacturer’s stock valued at $860,000 after acquiring an additional 656 shares in the last quarter. Longbow Finance SA acquired a new stake in shares of Micron Technology in the fourth quarter valued at about $7,154,000. Finally, Bank of New York Mellon Corp boosted its position in Micron Technology by 1.5% during the fourth quarter. Bank of New York Mellon Corp now owns 9,956,311 shares of the semiconductor manufacturer’s stock valued at $837,923,000 after purchasing an additional 144,897 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 181,223 shares in the company, valued at $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 Securities & Exchange Commission, which is available at this link. 0.30% of the stock is owned by company insiders.

Micron Technology Price Performance

Shares of Micron Technology stock opened at $91.82 on Friday. The company has a 50-day simple moving average of $95.68 and a two-hundred day simple moving average of $98.87. Micron Technology, Inc. has a twelve month low of $83.54 and a twelve month high of $157.54. The stock has a market capitalization of $102.30 billion, a price-to-earnings ratio of 26.46 and a beta of 1.18. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28.

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, 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 business had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.71 billion. During the same period in the previous year, the company posted ($0.95) earnings per share. The firm’s revenue for the quarter was up 84.3% compared to the same quarter last year. Analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date was Monday, December 30th. Micron Technology’s payout ratio is currently 13.26%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Barclays dropped their price objective on Micron Technology from $145.00 to $110.00 and set an “overweight” rating on the stock in a research note on Friday, December 20th. Cantor Fitzgerald cut their price target on shares of Micron Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Wells Fargo & Company lowered their price objective on shares of Micron Technology from $175.00 to $140.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Bank of America downgraded shares of Micron Technology from a “buy” rating to a “neutral” rating and cut their target price for the company from $125.00 to $110.00 in a research note on Thursday, December 19th. Finally, Stifel Nicolaus reduced their price target on Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $134.96.

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.