WealthBridge Investment Counsel Inc. Acquires 2,540 Shares of Micron Technology, Inc. (NASDAQ:MU)

WealthBridge Investment Counsel Inc. boosted its stake in Micron Technology, Inc. (NASDAQ:MU) by 30.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 10,790 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,540 shares during the quarter. WealthBridge Investment Counsel Inc.’s holdings in Micron Technology were worth $908,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in MU. Harmony Asset Management LLC raised its position in shares of Micron Technology by 75.6% in the 3rd quarter. Harmony Asset Management LLC now owns 11,889 shares of the semiconductor manufacturer’s stock worth $1,233,000 after acquiring an additional 5,120 shares in the last quarter. Lazard Freres Gestion S.A.S. grew its stake in Micron Technology by 241.7% in the third quarter. Lazard Freres Gestion S.A.S. now owns 41,000 shares of the semiconductor manufacturer’s stock worth $4,252,000 after purchasing an additional 29,000 shares during the period. Chartwell Investment Partners LLC raised its holdings in Micron Technology by 26.4% in the third quarter. Chartwell Investment Partners LLC now owns 195,115 shares of the semiconductor manufacturer’s stock worth $20,236,000 after purchasing an additional 40,802 shares in the last quarter. State Street Corp lifted its position in Micron Technology by 3.1% during the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock valued at $5,001,592,000 after buying an additional 1,434,568 shares during the period. Finally, Global X Japan Co. Ltd. lifted its position in Micron Technology by 23.1% during the third quarter. Global X Japan Co. Ltd. now owns 51,832 shares of the semiconductor manufacturer’s stock valued at $5,375,000 after buying an additional 9,735 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on MU. Robert W. Baird lowered their target price on shares of Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 target price on shares of Micron Technology in a report on Wednesday, December 18th. Sanford C. Bernstein reduced their price objective on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, December 18th. Raymond James upped their target price on shares of Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Finally, UBS Group reduced 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. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $135.24.

Insider Activity

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the completion of the transaction, the executive vice president now 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 filing with the SEC, which is available through this link. Company insiders own 0.30% of the company’s stock.

Micron Technology Stock Performance

MU opened at $105.75 on Friday. 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. The company has a 50 day simple moving average of $97.87 and a two-hundred day simple moving average of $102.48. The firm has a market cap of $117.82 billion, a P/E ratio of 30.48 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last posted 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 business had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business’s quarterly revenue was up 84.3% on a year-over-year basis. During the same period last year, the firm earned ($0.95) earnings per share. Equities analysts forecast that Micron Technology, Inc. will post 6.25 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders 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 0.43%. The ex-dividend date was Monday, December 30th. Micron Technology’s dividend payout ratio (DPR) is currently 13.26%.

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.