Micron Technology, Inc. (NASDAQ:MU) Shares Purchased by Venturi Wealth Management LLC

Venturi Wealth Management LLC boosted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 4.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 116,954 shares of the semiconductor manufacturer’s stock after purchasing an additional 5,496 shares during the period. Venturi Wealth Management LLC’s holdings in Micron Technology were worth $9,843,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MU. Creative Planning boosted its stake in shares of Micron Technology by 8.1% in the third quarter. Creative Planning now owns 161,774 shares of the semiconductor manufacturer’s stock worth $16,751,000 after acquiring an additional 12,168 shares during the last quarter. Swedbank AB lifted its holdings in Micron Technology by 30.4% in the 3rd quarter. Swedbank AB now owns 3,455,819 shares of the semiconductor manufacturer’s stock valued at $358,403,000 after purchasing an additional 806,639 shares in the last quarter. Stratos Wealth Advisors LLC boosted its stake in Micron Technology by 32.0% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 8,004 shares of the semiconductor manufacturer’s stock worth $830,000 after purchasing an additional 1,942 shares during the last quarter. Capital Investment Advisors LLC raised its position in shares of Micron Technology by 6.8% in the third quarter. Capital Investment Advisors LLC now owns 5,878 shares of the semiconductor manufacturer’s stock valued at $610,000 after buying an additional 372 shares during the last quarter. Finally, Resonant Capital Advisors LLC lifted its stake in shares of Micron Technology by 9.1% in the third quarter. Resonant Capital Advisors LLC now owns 2,144 shares of the semiconductor manufacturer’s stock worth $222,000 after buying an additional 179 shares in the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Trading Up 4.0 %

NASDAQ MU opened at $99.52 on Tuesday. 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 firm has a market cap of $110.88 billion, a price-to-earnings ratio of 28.68 and a beta of 1.18. The firm has a 50 day simple moving average of $96.10 and a 200-day simple moving average of $98.54. Micron Technology, Inc. has a one year low of $79.15 and a one year high of $157.54.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, topping the consensus estimate of $1.60 by $0.19. The business had revenue of $8.71 billion during 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%. The company’s quarterly revenue was up 84.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.95) earnings per share. Equities research analysts anticipate that Micron Technology, Inc. will post 6.29 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.46%. The ex-dividend date was Monday, December 30th. Micron Technology’s payout ratio is presently 13.26%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MU. Wedbush reaffirmed an “outperform” rating and set a $140.00 price objective on shares of Micron Technology in a research note on Tuesday, December 17th. Needham & Company LLC dropped their price target on Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. JPMorgan Chase & Co. reduced their price objective on Micron Technology from $180.00 to $145.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. The Goldman Sachs Group dropped their target price on Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Finally, Piper Sandler reduced their price target on Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $134.96.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the 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 owns 181,223 shares in the company, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.30% of the company’s stock.

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.