Cornercap Investment Counsel Inc. Has $852,000 Holdings in Micron Technology, Inc. (NASDAQ:MU)

Cornercap Investment Counsel Inc. decreased its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 5.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,126 shares of the semiconductor manufacturer’s stock after selling 582 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Micron Technology were worth $852,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Trivant Custom Portfolio Group LLC lifted its position in shares of Micron Technology by 20.0% during the 4th quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer’s stock worth $50,000 after purchasing an additional 100 shares during the last quarter. Xcel Wealth Management LLC boosted its position in shares of Micron Technology by 1.8% in the fourth quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer’s stock valued at $518,000 after acquiring an additional 108 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its position in shares of Micron Technology by 3.8% in the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer’s stock valued at $250,000 after acquiring an additional 108 shares during the period. Lebenthal Global Advisors LLC increased its position in Micron Technology by 1.5% during the fourth quarter. Lebenthal Global Advisors LLC now owns 7,474 shares of the semiconductor manufacturer’s stock worth $629,000 after acquiring an additional 114 shares during the period. Finally, Register Financial Advisors LLC raised its stake in Micron Technology by 1.1% during the 4th quarter. Register Financial Advisors LLC now owns 11,526 shares of the semiconductor manufacturer’s stock valued at $970,000 after purchasing an additional 121 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Trading Down 3.0 %

MU stock opened at $88.44 on Friday. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a twelve month low of $83.54 and a twelve month high of $157.54. The company has a market cap of $98.84 billion, a P/E ratio of 25.49 and a beta of 1.23. The business has a fifty day moving average of $96.00 and a 200-day moving average of $98.37.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.13. The firm had revenue of $8.05 billion during the quarter, compared to analysts’ expectations of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company’s quarterly revenue was up 38.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.42 EPS. As a group, equities research analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.115 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a yield of 0.52%. Micron Technology’s payout ratio is presently 11.03%.

Analysts Set New Price Targets

A number of brokerages have recently commented on MU. The Goldman Sachs Group cut their price objective on shares of Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Robert W. Baird raised their target price on Micron Technology from $130.00 to $163.00 and gave the stock an “outperform” rating in a research report on Friday, March 21st. Needham & Company LLC reduced their price objective on shares of Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Stifel Nicolaus dropped their price target on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Finally, UBS Group lifted their price objective on Micron Technology from $125.00 to $130.00 and gave the company a “buy” rating in a report on Monday, March 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Micron Technology has a consensus rating of “Moderate Buy” and a consensus target price of $129.76.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the transaction, the executive vice president now directly owns 164,769 shares in the company, valued at approximately $15,847,482.42. The trade was a 8.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the completion of the sale, the director now owns 27,358 shares of the company’s stock, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

About Micron Technology

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.