Fortitude Family Office LLC Sells 130 Shares of Micron Technology, Inc. (NASDAQ:MU)

Fortitude Family Office LLC lessened its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 1.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,175 shares of the semiconductor manufacturer’s stock after selling 130 shares during the period. Fortitude Family Office LLC’s holdings in Micron Technology were worth $604,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Highline Wealth Partners LLC acquired a new position in shares of Micron Technology during the 3rd quarter worth about $26,000. Davis Capital Management acquired a new position in Micron Technology during the third quarter worth approximately $30,000. True Wealth Design LLC raised its stake in Micron Technology by 1,096.3% in the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after buying an additional 296 shares during the period. DT Investment Partners LLC lifted its position in shares of Micron Technology by 261.1% in 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 boosted its stake in shares of Micron Technology by 602.2% during 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 period. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Trading Down 2.5 %

Shares of MU stock opened at $99.41 on Friday. Micron Technology, Inc. has a fifty-two week low of $79.15 and a fifty-two week high of $157.54. The stock’s fifty day moving average price is $98.69 and its two-hundred day moving average price is $103.97. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. The company has a market cap of $110.76 billion, a PE ratio of 146.19 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data 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 1.58% and a net margin of 3.10%. The business had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. During the same period last year, the firm posted ($0.95) earnings per share. Micron Technology’s revenue was up 84.3% compared to the same quarter last year. Equities analysts predict that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Monday, December 30th. Micron Technology’s dividend payout ratio is 13.26%.

Insider Activity at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the sale, the executive vice president now directly owns 181,223 shares in the company, valued at approximately $15,442,011.83. The trade was a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

MU has been the topic of a number of research analyst reports. Rosenblatt Securities restated a “buy” rating and issued a $250.00 price target on shares of Micron Technology in a research note on Wednesday, December 18th. Cantor Fitzgerald cut their target price 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. Sanford C. Bernstein decreased their price target on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 18th. Raymond James raised their price objective on shares of Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Finally, Needham & Company LLC decreased their target price on Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. One 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, Micron Technology has an average rating of “Moderate Buy” and an average target price of $135.24.

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.