18,862 Shares in Micron Technology, Inc. (NASDAQ:MU) Bought by Modern Wealth Management LLC

Modern Wealth Management LLC purchased a new stake in Micron Technology, Inc. (NASDAQ:MU) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 18,862 shares of the semiconductor manufacturer’s stock, valued at approximately $1,587,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Micron Technology by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer’s stock valued at $8,403,982,000 after purchasing an additional 888,087 shares during the period. State Street Corp increased its holdings in 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 buying an additional 1,434,568 shares during the period. Geode Capital Management LLC increased its holdings in Micron Technology by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 23,723,545 shares of the semiconductor manufacturer’s stock valued at $2,451,987,000 after buying an additional 892,607 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Micron Technology by 21.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock valued at $1,174,643,000 after buying an additional 2,022,180 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Micron Technology by 1.5% during the 4th quarter. Bank of New York Mellon Corp now owns 9,956,311 shares of the semiconductor manufacturer’s stock worth $837,923,000 after acquiring an additional 144,897 shares during the period. 80.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Mizuho dropped their target price on Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. Rosenblatt Securities cut their price objective on Micron Technology from $250.00 to $200.00 and set a “buy” rating for the company in a report on Friday, March 21st. Morgan Stanley upped their target price on shares of Micron Technology from $91.00 to $112.00 and gave the stock an “equal weight” rating in a report on Friday, March 21st. Citigroup cut their price target on shares of Micron Technology from $150.00 to $120.00 and set a “buy” rating for the company in a report on Friday, March 21st. Finally, Needham & Company LLC dropped 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $132.63.

Micron Technology Stock Down 2.8 %

NASDAQ:MU opened at $94.18 on Wednesday. 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 12-month low of $83.54 and a 12-month high of $157.54. The stock’s fifty day simple moving average is $96.80 and its 200-day simple moving average is $98.45. The firm has a market capitalization of $104.93 billion, a P/E ratio of 27.14 and a beta of 1.23.

Micron Technology (NASDAQ:MU) last issued its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. The firm had revenue of $8.05 billion for 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 revenue was up 38.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.42 earnings per share. Equities research analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.115 per share. The ex-dividend date is Monday, March 31st. This represents a $0.46 annualized dividend and a yield of 0.49%. Micron Technology’s dividend payout ratio is presently 11.03%.

Insider Buying and Selling at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction 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 represents a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.30% of the company’s stock.

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.