Paragon Capital Management Inc. Has $861,000 Position in Micron Technology, Inc. (NASDAQ:MU)

Paragon Capital Management Inc. lowered its stake in Micron Technology, Inc. (NASDAQ:MU) by 59.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,230 shares of the semiconductor manufacturer’s stock after selling 14,818 shares during the quarter. Paragon Capital Management Inc.’s holdings in Micron Technology were worth $861,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Czech National Bank increased its holdings in shares of Micron Technology by 7.1% during the third quarter. Czech National Bank now owns 225,924 shares of the semiconductor manufacturer’s stock worth $23,431,000 after purchasing an additional 14,902 shares during the period. GAMMA Investing LLC increased its holdings in shares of Micron Technology by 12.1% during the third quarter. GAMMA Investing LLC now owns 15,599 shares of the semiconductor manufacturer’s stock worth $1,618,000 after purchasing an additional 1,689 shares during the period. Diversified Trust Co increased its holdings in shares of Micron Technology by 37.0% during the third quarter. Diversified Trust Co now owns 22,202 shares of the semiconductor manufacturer’s stock worth $2,303,000 after purchasing an additional 5,995 shares during the period. Fulton Bank N.A. increased its holdings in shares of Micron Technology by 46.8% during the third quarter. Fulton Bank N.A. now owns 9,175 shares of the semiconductor manufacturer’s stock worth $952,000 after purchasing an additional 2,926 shares during the period. Finally, Kesler Norman & Wride LLC bought a new stake in shares of Micron Technology during the 3rd quarter worth approximately $795,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Price Performance

Micron Technology stock opened at $90.66 on Wednesday. Micron Technology, Inc. has a 12-month low of $79.15 and a 12-month high of $157.54. The stock has a market capitalization of $101.01 billion, a P/E ratio of 26.13 and a beta of 1.18. The firm’s 50-day moving average is $97.13 and its two-hundred day moving average is $99.55. 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 (NASDAQ:MU) last issued its quarterly 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%. Micron Technology’s revenue for the quarter was up 84.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.95) earnings per share. Equities analysts predict that Micron Technology, Inc. will post 6.29 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s payout ratio is 13.26%.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the transaction, the executive vice president now directly owns 181,223 shares in the company, valued at approximately $15,442,011.83. The trade was a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on MU shares. Bank of America downgraded shares of Micron Technology from a “buy” rating to a “neutral” rating and cut their price target for the stock from $125.00 to $110.00 in a report on Thursday, December 19th. Wedbush reaffirmed an “outperform” rating and set a $140.00 price target on shares of Micron Technology in a report on Tuesday, December 17th. Morgan Stanley dropped their price objective on shares of Micron Technology from $98.00 to $91.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. UBS Group decreased their price objective on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Finally, Wells Fargo & Company decreased their target price on Micron Technology from $175.00 to $140.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $134.96.

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.