Concentrum Wealth Management Acquires 1,438 Shares of Micron Technology, Inc. (NASDAQ:MU)

Concentrum Wealth Management grew its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 21.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 8,130 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,438 shares during the quarter. Concentrum Wealth Management’s holdings in Micron Technology were worth $684,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. FMR LLC boosted its position in Micron Technology by 34.6% during the 4th quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer’s stock valued at $4,012,114,000 after buying an additional 12,249,341 shares during the period. Himension Capital Singapore PTE. LTD. boosted its holdings in shares of Micron Technology by 41.0% during the fourth quarter. Himension Capital Singapore PTE. LTD. now owns 70,595 shares of the semiconductor manufacturer’s stock worth $5,941,000 after purchasing an additional 20,524 shares during the period. Generali Powszechne Towarzystwo Emerytalne bought a new stake in shares of Micron Technology in the fourth quarter worth about $7,574,000. MIG Capital LLC purchased a new position in Micron Technology during the 4th quarter valued at about $324,000. Finally, Russell Investments Group Ltd. raised its position in Micron Technology by 2.4% during the 4th quarter. Russell Investments Group Ltd. now owns 922,777 shares of the semiconductor manufacturer’s stock valued at $77,699,000 after purchasing an additional 21,327 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Trading Down 12.9 %

Shares of NASDAQ:MU opened at $64.72 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. Micron Technology, Inc. has a 1 year low of $61.47 and a 1 year high of $157.54. The company has a market cap of $72.33 billion, a P/E ratio of 18.65 and a beta of 1.18. The stock’s fifty day moving average price is $93.42 and its 200-day moving average price is $98.24.

Micron Technology (NASDAQ:MU) last posted its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.13. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business had revenue of $8.05 billion for the quarter, compared to analysts’ expectations of $7.93 billion. During the same quarter in the prior year, the business earned $0.42 EPS. The business’s revenue for the quarter was up 38.2% compared to the same quarter last year. Sell-side 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 disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend is Monday, March 31st. Micron Technology’s payout ratio is 11.03%.

Insider Transactions at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the business’s 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 transaction, the director now directly owns 27,358 shares in the company, valued at $2,542,378.94. The trade was 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. Also, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value of $1,442,700.00. Following the sale, the executive vice president now owns 164,769 shares of the company’s stock, valued at $15,847,482.42. This represents a 8.34 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

MU has been the topic of several research analyst reports. China Renaissance cut Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 target price on the stock. in a research note on Wednesday, March 26th. Rosenblatt Securities decreased their price objective on shares of Micron Technology from $250.00 to $200.00 and set a “buy” rating for the company in a report on Friday, March 21st. The Goldman Sachs Group cut their target price on shares of Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Wells Fargo & Company decreased their price target on shares of Micron Technology from $140.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Finally, Sanford C. Bernstein cut their price objective on Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. 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 given a strong 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 $129.76.

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.