Silverlake Wealth Management LLC Has $230,000 Stake in Micron Technology, Inc. (NASDAQ:MU)

Silverlake Wealth Management LLC decreased its position in Micron Technology, Inc. (NASDAQ:MU) by 6.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,736 shares of the semiconductor manufacturer’s stock after selling 200 shares during the period. Silverlake Wealth Management LLC’s holdings in Micron Technology were worth $230,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of MU. Czech National Bank increased its stake in Micron Technology by 7.1% in the third quarter. Czech National Bank now owns 225,924 shares of the semiconductor manufacturer’s stock valued at $23,431,000 after purchasing an additional 14,902 shares in the last quarter. Kesler Norman & Wride LLC bought a new stake in Micron Technology in the third quarter valued at $795,000. Sage Capital Advisors llc bought a new stake in Micron Technology in the third quarter valued at $248,000. Wedmont Private Capital increased its stake in Micron Technology by 0.9% in the third quarter. Wedmont Private Capital now owns 12,887 shares of the semiconductor manufacturer’s stock valued at $1,326,000 after purchasing an additional 120 shares in the last quarter. Finally, Sanibel Captiva Trust Company Inc. increased its stake in Micron Technology by 99.3% in the third quarter. Sanibel Captiva Trust Company Inc. now owns 8,591 shares of the semiconductor manufacturer’s stock valued at $891,000 after purchasing an additional 4,281 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Bank of America downgraded shares of Micron Technology from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $125.00 to $110.00 in a research report on Thursday, December 19th. Barclays decreased their target price 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. China Renaissance assumed coverage on shares of Micron Technology in a research report on Monday, October 28th. They set a “buy” rating and a $148.00 target price for the company. UBS Group decreased their target price on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Finally, TD Cowen decreased their target price on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. One 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $134.96.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 4,890 shares of the company’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 sale, the executive vice president now owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.30% of the stock is currently owned by insiders.

Micron Technology Stock Performance

Shares of MU stock opened at $93.60 on Thursday. The stock has a market capitalization of $104.29 billion, a P/E ratio of 26.97 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. The firm’s 50 day moving average is $96.91 and its 200 day moving average is $99.38. Micron Technology, Inc. has a 12 month low of $79.15 and a 12 month high of $157.54.

Micron Technology (NASDAQ:MU) last announced its quarterly 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. The company had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. Micron Technology’s revenue was up 84.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.95) EPS. On average, sell-side analysts anticipate that Micron Technology, Inc. will post 6.29 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors 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 yield of 0.49%. The ex-dividend date was Monday, December 30th. Micron Technology’s dividend payout ratio (DPR) is presently 13.26%.

Micron Technology 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.