Bright Futures Wealth Management LLC. Invests $225,000 in Micron Technology, Inc. (NASDAQ:MU)

Bright Futures Wealth Management LLC. purchased a new stake in shares of Micron Technology, Inc. (NASDAQ:MU) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 2,529 shares of the semiconductor manufacturer’s stock, valued at approximately $225,000.

Other institutional investors also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC bought a new position in Micron Technology during the third quarter valued at about $26,000. Stone House Investment Management LLC grew its position in Micron Technology by 602.2% during the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 277 shares during the period. True Wealth Design LLC grew its position in Micron Technology by 1,096.3% during the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after buying an additional 296 shares during the period. DT Investment Partners LLC grew its position in Micron Technology by 261.1% during the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 235 shares during the period. Finally, Darwin Wealth Management LLC bought a new position in Micron Technology during the third quarter worth about $39,000. Institutional investors own 80.84% of the company’s stock.

Micron Technology Trading Up 4.3 %

Shares of MU opened at $95.66 on Friday. The firm’s 50 day simple moving average is $96.24 and its 200 day simple moving average is $98.73. The company has a market capitalization of $106.58 billion, a P/E ratio of 27.57 and a beta of 1.18. 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 $79.15 and a 1-year high of $157.54.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. The business had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. Micron Technology’s quarterly revenue was up 84.3% on a year-over-year basis. During the same period last year, the firm posted ($0.95) earnings per share. Sell-side analysts forecast that Micron Technology, Inc. will post 6.29 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s payout ratio is currently 13.26%.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on MU shares. Robert W. Baird cut their target price on shares of Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. Mizuho cut their target price on shares of Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a research 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 report on Wednesday, December 18th. China Renaissance started coverage on shares of Micron Technology in a research report on Monday, October 28th. They set a “buy” rating and a $148.00 target price for the company. Finally, Stifel Nicolaus cut their target price on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, Micron Technology 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.