Sound View Wealth Advisors Group LLC Grows Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Sound View Wealth Advisors Group LLC grew its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 391.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 15,999 shares of the semiconductor manufacturer’s stock after purchasing an additional 12,745 shares during the quarter. Sound View Wealth Advisors Group LLC’s holdings in Micron Technology were worth $1,346,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. OFI Invest Asset Management purchased a new stake in shares of Micron Technology during the 4th quarter valued at about $32,545,000. Personal CFO Solutions LLC purchased a new stake in shares of Micron Technology during the 4th quarter valued at about $235,000. Dorsey & Whitney Trust CO LLC increased its position in shares of Micron Technology by 124.7% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 22,888 shares of the semiconductor manufacturer’s stock valued at $1,926,000 after purchasing an additional 12,701 shares during the last quarter. Naviter Wealth LLC purchased a new stake in shares of Micron Technology during the 4th quarter valued at about $843,000. Finally, Rialto Wealth Management LLC purchased a new stake in shares of Micron Technology during the 4th quarter valued at about $84,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Buying and Selling

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction on 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 directly owns 27,358 shares in the company, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction 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 sale, the executive vice president now owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Sanford C. Bernstein reduced their price target on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. Barclays reduced their target price on shares of Micron Technology from $145.00 to $110.00 and set an “overweight” rating for the company in a report on Friday, December 20th. The Goldman Sachs Group reduced their target price on shares of Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Needham & Company LLC reduced their target price 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. Finally, Wedbush reissued an “outperform” rating and issued a $140.00 target price on shares of Micron Technology in a report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Micron Technology has a consensus rating of “Moderate Buy” and a consensus target price of $134.96.

Micron Technology Stock Up 4.1 %

NASDAQ MU opened at $92.96 on Monday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The company has a market capitalization of $103.57 billion, a P/E ratio of 26.79 and a beta of 1.23. Micron Technology, Inc. has a one year low of $83.54 and a one year high of $157.54. The stock has a 50 day moving average price of $95.99 and a 200-day moving average price of $98.29.

Micron Technology (NASDAQ:MU) last posted its 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 firm had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 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 84.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.95) EPS. As a group, equities analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors 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 yield of 0.49%. Micron Technology’s dividend payout ratio is presently 13.26%.

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.