Green Alpha Advisors LLC Lowers Stake in Micron Technology, Inc. (NASDAQ:MU)

Green Alpha Advisors LLC cut its holdings in Micron Technology, Inc. (NASDAQ:MU) by 7.8% during the fourth quarter, HoldingsChannel reports. The firm owned 8,338 shares of the semiconductor manufacturer’s stock after selling 710 shares during the period. Green Alpha Advisors LLC’s holdings in Micron Technology were worth $702,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in MU. Quest Partners LLC grew its position in Micron Technology by 7,328.6% in the 2nd quarter. Quest Partners LLC now owns 520 shares of the semiconductor manufacturer’s stock valued at $68,000 after buying an additional 513 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Micron Technology by 158.8% in the second quarter. American Century Companies Inc. now owns 561,783 shares of the semiconductor manufacturer’s stock valued at $73,891,000 after acquiring an additional 344,720 shares in the last quarter. HBK Sorce Advisory LLC increased its stake in shares of Micron Technology by 16.8% during the second quarter. HBK Sorce Advisory LLC now owns 5,161 shares of the semiconductor manufacturer’s stock worth $679,000 after acquiring an additional 743 shares during the period. 1ST Source Bank purchased a new position in Micron Technology during the second quarter worth about $292,000. Finally, Wealthspire Advisors LLC lifted its position in Micron Technology by 23.4% in the second quarter. Wealthspire Advisors LLC now owns 2,483 shares of the semiconductor manufacturer’s stock valued at $327,000 after purchasing an additional 471 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Activity at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the firm’s 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 $15,442,011.83. This trade represents a 2.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.30% of the stock is owned by insiders.

Micron Technology Trading Down 0.1 %

Shares of Micron Technology stock opened at $99.34 on Monday. Micron Technology, Inc. has a fifty-two week low of $79.15 and a fifty-two week high of $157.54. The business’s fifty day moving average is $98.68 and its two-hundred day moving average is $103.15. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. The firm has a market cap of $110.67 billion, a PE ratio of 146.09 and a beta of 1.16.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.19. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The firm had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.71 billion. During the same period in the prior year, the business posted ($0.95) earnings per share. The firm’s revenue for the quarter was up 84.3% compared to the same quarter last year. Analysts anticipate that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 30th will be given a $0.115 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $0.46 annualized dividend and a dividend yield of 0.46%. Micron Technology’s dividend payout ratio is presently 67.65%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Bank of America cut Micron Technology from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $125.00 to $110.00 in a research report on Thursday, December 19th. KeyCorp lowered their price target on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 8th. Rosenblatt Securities reissued a “buy” rating and set a $250.00 price objective on shares of Micron Technology in a report on Wednesday, December 18th. Barclays dropped their target price on shares of Micron Technology from $145.00 to $110.00 and set an “overweight” rating for the company in a report on Friday, December 20th. Finally, Raymond James lifted their price objective on Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat, Micron Technology currently has an average rating of “Moderate Buy” and an average target price of $135.24.

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.