Kennedy Investment Group Purchases 2,227 Shares of Micron Technology, Inc. (NASDAQ:MU)

Kennedy Investment Group lifted its position in Micron Technology, Inc. (NASDAQ:MU) by 13.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,154 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,227 shares during the quarter. Kennedy Investment Group’s holdings in Micron Technology were worth $1,612,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Ascent Group LLC increased its holdings in shares of Micron Technology by 4.2% during the second quarter. Ascent Group LLC now owns 3,306 shares of the semiconductor manufacturer’s stock valued at $435,000 after acquiring an additional 133 shares in the last quarter. Creative Planning increased its holdings in shares of Micron Technology by 12.4% during the second quarter. Creative Planning now owns 149,606 shares of the semiconductor manufacturer’s stock valued at $19,678,000 after acquiring an additional 16,463 shares in the last quarter. Quarry LP increased its holdings in shares of Micron Technology by 130.5% during the second quarter. Quarry LP now owns 604 shares of the semiconductor manufacturer’s stock valued at $79,000 after acquiring an additional 342 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its holdings in shares of Micron Technology by 4.3% during the second quarter. B. Riley Wealth Advisors Inc. now owns 28,124 shares of the semiconductor manufacturer’s stock valued at $3,699,000 after acquiring an additional 1,160 shares in the last quarter. Finally, EP Wealth Advisors LLC increased its holdings in shares of Micron Technology by 43.1% during the second quarter. EP Wealth Advisors LLC now owns 16,686 shares of the semiconductor manufacturer’s stock valued at $2,195,000 after acquiring an additional 5,024 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Stock Down 3.1 %

NASDAQ MU opened at $88.25 on Wednesday. The business has a fifty day moving average price of $98.23 and a 200 day moving average price of $100.80. Micron Technology, Inc. has a one year low of $79.15 and a one year high of $157.54. 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 company has a market cap of $98.33 billion, a P/E ratio of 25.43 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last issued its 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 business had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company’s revenue for the quarter was up 84.3% on a year-over-year basis. During the same period last year, the company earned ($0.95) EPS. Research analysts anticipate that Micron Technology, Inc. will post 6.29 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors 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 0.52%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s dividend payout ratio (DPR) is 13.26%.

Analyst Upgrades and Downgrades

MU has been the topic of several recent analyst reports. UBS Group cut their price objective on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Robert W. Baird dropped their target price 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. Bank of America lowered Micron Technology from a “buy” rating to a “neutral” rating and dropped their target price for the company from $125.00 to $110.00 in a research report on Thursday, December 19th. Morgan Stanley dropped their target price on Micron Technology from $98.00 to $91.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Finally, JPMorgan Chase & Co. dropped their target price 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.96.

Insider Activity at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology 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 completion of the transaction, the executive vice president now owns 181,223 shares in the company, valued at approximately $15,442,011.83. This trade represents a 2.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.30% of the stock is currently owned by company insiders.

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.