Chemistry Wealth Management LLC Sells 561 Shares of Micron Technology, Inc. (NASDAQ:MU)

Chemistry Wealth Management LLC trimmed its holdings in Micron Technology, Inc. (NASDAQ:MU) by 4.1% in the 4th quarter, Holdings Channel reports. The fund owned 13,036 shares of the semiconductor manufacturer’s stock after selling 561 shares during the quarter. Chemistry Wealth Management LLC’s holdings in Micron Technology were worth $1,097,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Highline Wealth Partners LLC bought a new position in shares of Micron Technology in the 3rd quarter worth about $26,000. Davis Capital Management bought a new stake in Micron Technology during the 3rd quarter valued at about $30,000. Strategic Investment Solutions Inc. IL bought a new stake in Micron Technology during the 2nd quarter valued at about $39,000. Stone House Investment Management LLC increased its stake 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 purchasing an additional 277 shares in the last quarter. Finally, True Wealth Design LLC increased its stake in Micron Technology by 1,096.3% during the 3rd 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 in the last quarter. 80.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Micron Technology from $180.00 to $145.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Rosenblatt Securities restated a “buy” rating and set a $250.00 price objective on shares of Micron Technology in a research note on Wednesday, December 18th. KeyCorp reduced their price objective on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 8th. Robert W. Baird reduced their price objective on shares of Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a research note on Thursday, December 19th. Finally, Wells Fargo & Company reduced their price objective on shares of Micron Technology from $175.00 to $140.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $135.24.

Micron Technology Stock Performance

MU opened at $105.75 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 has a market cap of $117.82 billion, a price-to-earnings ratio of 30.48 and a beta of 1.18. The company’s 50 day moving average is $98.00 and its 200 day moving average is $102.66. Micron Technology, Inc. has a 12-month low of $79.15 and a 12-month high of $157.54.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results 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 net margin of 13.34% and a return on equity of 8.32%. The business had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.71 billion. During the same quarter in the previous year, the firm earned ($0.95) earnings per share. The company’s revenue for the quarter was up 84.3% on a year-over-year basis. On average, equities research analysts predict that Micron Technology, Inc. will post 6.25 EPS for the current year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s dividend payout ratio is currently 13.26%.

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology 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 sale, the executive vice president now owns 181,223 shares in the company, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.30% of the company’s stock.

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.