Silicon Valley Capital Partners Sells 4,619 Shares of Micron Technology, Inc. (NASDAQ:MU)

Silicon Valley Capital Partners cut its stake in Micron Technology, Inc. (NASDAQ:MU) by 55.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 3,694 shares of the semiconductor manufacturer’s stock after selling 4,619 shares during the period. Silicon Valley Capital Partners’ holdings in Micron Technology were worth $311,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Highline Wealth Partners LLC bought a new position in Micron Technology during the 3rd quarter valued at about $26,000. True Wealth Design LLC lifted its position in shares of Micron Technology by 1,096.3% in the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after purchasing an additional 296 shares in the last quarter. DT Investment Partners LLC raised 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 purchasing an additional 235 shares during the period. Stone House Investment Management LLC raised its position in shares of Micron Technology by 602.2% in the third 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 during the period. Finally, Activest Wealth Management grew its stake in shares of Micron Technology by 583.3% in the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 350 shares in the last quarter. 80.84% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the transaction, the executive vice president now directly 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 sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Sanford C. Bernstein reduced their price objective 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. Wedbush reaffirmed an “outperform” rating and set a $140.00 price objective on shares of Micron Technology in a research report on Tuesday, December 17th. Robert W. Baird cut 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. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 target price on shares of Micron Technology in a research note on Wednesday, December 18th. Finally, JPMorgan Chase & Co. lowered their price objective on Micron Technology from $180.00 to $145.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $134.96.

Micron Technology Trading Down 2.4 %

Shares of Micron Technology stock opened at $92.30 on Monday. Micron Technology, Inc. has a 52-week low of $79.15 and a 52-week 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’s 50-day simple moving average is $96.63 and its 200-day simple moving average is $99.04. The firm has a market cap of $102.84 billion, a price-to-earnings ratio of 26.60 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, topping 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 firm had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.71 billion. During the same quarter in the prior year, the business posted ($0.95) earnings per share. Micron Technology’s revenue for the quarter was up 84.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Micron Technology, Inc. will post 6.29 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were given a $0.115 dividend. The ex-dividend date was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.50%. Micron Technology’s payout ratio is currently 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.