Newbridge Financial Services Group Inc. Has $1.13 Million Holdings in Micron Technology, Inc. (NASDAQ:MU)

Newbridge Financial Services Group Inc. lessened its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 3.1% during the 4th quarter, HoldingsChannel reports. The firm owned 13,432 shares of the semiconductor manufacturer’s stock after selling 429 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Micron Technology were worth $1,130,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Harmony Asset Management LLC grew its position in Micron Technology by 75.6% in the 3rd quarter. Harmony Asset Management LLC now owns 11,889 shares of the semiconductor manufacturer’s stock worth $1,233,000 after purchasing an additional 5,120 shares during the last quarter. Lazard Freres Gestion S.A.S. boosted its position in shares of Micron Technology by 241.7% during the 3rd quarter. Lazard Freres Gestion S.A.S. now owns 41,000 shares of the semiconductor manufacturer’s stock valued at $4,252,000 after acquiring an additional 29,000 shares in the last quarter. Chartwell Investment Partners LLC raised its position in Micron Technology by 26.4% in the third quarter. Chartwell Investment Partners LLC now owns 195,115 shares of the semiconductor manufacturer’s stock worth $20,236,000 after purchasing an additional 40,802 shares in the last quarter. Stablepoint Partners LLC acquired a new stake in Micron Technology during the fourth quarter valued at approximately $569,000. Finally, State Street Corp grew its stake in shares of Micron Technology by 3.1% in the 3rd quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock valued at $5,001,592,000 after purchasing an additional 1,434,568 shares during the period. Institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Down 2.4 %

Micron Technology stock opened at $92.30 on Friday. Micron Technology, Inc. has a twelve month low of $79.15 and a twelve month high of $157.54. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The company has a 50 day moving average of $96.63 and a 200-day moving average of $99.15. The stock has a market capitalization of $102.84 billion, a PE ratio of 26.60 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. The firm had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company’s revenue was up 84.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.95) EPS. On average, equities research analysts anticipate that Micron Technology, Inc. will post 6.29 EPS for the current fiscal year.

Micron Technology Announces Dividend

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. This represents a $0.46 annualized dividend and a yield of 0.50%. The ex-dividend date was Monday, December 30th. Micron Technology’s payout ratio is 13.26%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on MU shares. JPMorgan Chase & Co. cut their price objective on Micron Technology from $180.00 to $145.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Cantor Fitzgerald reduced their target price on Micron Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Wells Fargo & Company dropped their price target on Micron Technology from $175.00 to $140.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. China Renaissance assumed coverage on Micron Technology in a research note on Monday, October 28th. They issued a “buy” rating and a $148.00 target price for the company. Finally, Robert W. Baird decreased their price objective on shares of Micron Technology from $150.00 to $130.00 and set an “outperform” rating on the stock in a 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 issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $134.96.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of 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 filing with the SEC, which can be accessed through the SEC website. Insiders own 0.30% of the company’s stock.

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.