Traynor Capital Management Inc. Has $256,000 Position in Micron Technology, Inc. (NASDAQ:MU)

Traynor Capital Management Inc. trimmed its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 26.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,041 shares of the semiconductor manufacturer’s stock after selling 1,112 shares during the period. Traynor Capital Management Inc.’s holdings in Micron Technology were worth $256,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in MU. Highline Wealth Partners LLC bought a new stake in Micron Technology in the third quarter valued at about $26,000. Davis Capital Management acquired a new stake in Micron Technology during the third quarter valued at approximately $30,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Micron Technology in the 2nd quarter valued at approximately $39,000. Stone House Investment Management LLC raised its holdings in shares of Micron Technology by 602.2% in the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 277 shares in the last quarter. Finally, True Wealth Design LLC lifted its position in shares of Micron Technology by 1,096.3% during the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after buying an additional 296 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Analyst Upgrades and Downgrades

MU has been the subject of several recent analyst reports. Sanford C. Bernstein dropped their price objective on Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, December 18th. Wells Fargo & Company reduced their price target on shares of Micron Technology from $175.00 to $140.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. China Renaissance assumed coverage on shares of Micron Technology in a report on Monday, October 28th. They set a “buy” rating and a $148.00 price objective for the company. Robert W. Baird decreased their price target on Micron Technology from $150.00 to $130.00 and set an “outperform” rating on the stock in a research report on Thursday, December 19th. Finally, Wedbush reaffirmed an “outperform” rating and set a $140.00 price target on shares of Micron Technology in a report on Tuesday, December 17th. One equities 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 company. According to MarketBeat, Micron Technology has an average rating of “Moderate Buy” and an average price target of $135.24.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company’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 of the company’s stock, valued at $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 is available through this link. 0.30% of the stock is owned by insiders.

Micron Technology Stock Performance

Shares of NASDAQ:MU opened at $104.84 on Friday. The company has a market capitalization of $116.81 billion, a price-to-earnings ratio of 30.21 and a beta of 1.18. The firm’s 50 day simple moving average is $98.11 and its 200 day simple moving average is $101.70. 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 fifty-two week low of $79.15 and a fifty-two week high of $157.54.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.19. The company had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm’s revenue was up 84.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.95) EPS. As a group, sell-side analysts forecast that Micron Technology, Inc. will post 6.25 earnings per share for the current year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Monday, December 30th. Micron Technology’s dividend payout ratio (DPR) 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.