Transcend Capital Advisors LLC Boosts Stake in Micron Technology, Inc. (NASDAQ:MU)

Transcend Capital Advisors LLC lifted its holdings in Micron Technology, Inc. (NASDAQ:MU) by 60.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,159 shares of the semiconductor manufacturer’s stock after buying an additional 2,326 shares during the period. Transcend Capital Advisors LLC’s holdings in Micron Technology were worth $518,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Highline Wealth Partners LLC purchased a new position in Micron Technology during the third quarter worth about $26,000. Stone House Investment Management LLC raised its stake 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 worth $34,000 after purchasing an additional 277 shares during the period. True Wealth Design LLC raised its stake 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 worth $33,000 after purchasing an additional 296 shares during the period. DT Investment Partners LLC raised its stake in Micron Technology by 261.1% during the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 235 shares during the period. Finally, Beacon Capital Management LLC raised its stake in Micron Technology by 114.9% during the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after purchasing an additional 200 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the business’s 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 completion of the sale, the executive vice president now owns 181,223 shares in the company, valued at approximately $15,442,011.83. The trade was a 2.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

MU has been the subject of a number of recent analyst reports. The Goldman Sachs Group dropped their price target on shares of Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. UBS Group dropped their price target 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. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 price target on shares of Micron Technology in a research report on Wednesday, December 18th. Bank of America cut shares of Micron Technology from a “buy” rating to a “neutral” rating and dropped their price target for the company from $125.00 to $110.00 in a research report on Thursday, December 19th. Finally, Barclays dropped their price target on shares of Micron Technology from $145.00 to $110.00 and set an “overweight” rating for the company in a research report on Friday, December 20th. One research 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’s stock. Based on data from MarketBeat, Micron Technology has a consensus rating of “Moderate Buy” and a consensus target price of $134.96.

Micron Technology Stock Down 4.3 %

Shares of Micron Technology stock opened at $98.78 on Friday. Micron Technology, Inc. has a 52-week low of $83.54 and a 52-week high of $157.54. The company has a 50 day moving average of $96.28 and a 200 day moving average of $98.82. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $110.06 billion, a P/E ratio of 28.47 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. The company 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 firm’s quarterly revenue was up 84.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.95) earnings per share. As a group, research analysts forecast that Micron Technology, Inc. will post 6.08 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 given a dividend of $0.115 per share. The ex-dividend date was Monday, December 30th. This represents a $0.46 annualized dividend and a dividend yield of 0.47%. Micron Technology’s dividend payout ratio is presently 13.26%.

About Micron Technology

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.