Stonegate Investment Group LLC Acquires 593 Shares of Micron Technology, Inc. (NASDAQ:MU)

Stonegate Investment Group LLC lifted its holdings in Micron Technology, Inc. (NASDAQ:MU) by 20.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,461 shares of the semiconductor manufacturer’s stock after acquiring an additional 593 shares during the period. Stonegate Investment Group LLC’s holdings in Micron Technology were worth $291,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Highline Wealth Partners LLC purchased a new stake in Micron Technology in the 3rd quarter worth $26,000. Davis Capital Management bought a new stake in shares of Micron Technology in the third quarter worth about $30,000. True Wealth Design LLC lifted its position in shares of Micron Technology by 1,096.3% in the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after buying an additional 296 shares in the last quarter. DT Investment Partners LLC boosted its stake 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 buying an additional 235 shares during the last quarter. Finally, Stone House Investment Management LLC grew its holdings in Micron Technology by 602.2% during the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 277 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on MU shares. The Goldman Sachs Group decreased their price objective on Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Barclays lowered their price objective on shares of Micron Technology from $145.00 to $110.00 and set an “overweight” rating for the company in a research report on Friday, December 20th. Sanford C. Bernstein reduced their target price on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. China Renaissance began coverage on Micron Technology in a research report on Monday, October 28th. They issued a “buy” rating and a $148.00 price target for the company. Finally, Wells Fargo & Company reduced their price objective on Micron Technology from $175.00 to $140.00 and set an “overweight” rating on the stock in a research note 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $134.96.

Insiders Place Their Bets

In other 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 transaction 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. This represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.30% of the company’s stock.

Micron Technology Trading Down 3.1 %

MU opened at $88.25 on Wednesday. Micron Technology, Inc. has a 12 month low of $79.15 and a 12 month high of $157.54. The stock has a fifty day moving average price of $98.23 and a 200-day moving average price of $100.80. The firm has a market cap of $98.33 billion, a price-to-earnings ratio of 25.43 and a beta of 1.18. 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 (NASDAQ:MU) last announced its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, topping 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 business had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. During the same period in the previous year, the company posted ($0.95) earnings per share. The firm’s revenue was up 84.3% on a year-over-year basis. As a group, equities research analysts anticipate that Micron Technology, Inc. will post 6.29 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were paid a $0.115 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 annualized dividend and a yield of 0.52%. Micron Technology’s dividend payout ratio (DPR) is 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.