Activest Wealth Management Purchases 350 Shares of Micron Technology, Inc. (NASDAQ:MU)

Activest Wealth Management raised its position in Micron Technology, Inc. (NASDAQ:MU) by 583.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 410 shares of the semiconductor manufacturer’s stock after buying an additional 350 shares during the quarter. Activest Wealth Management’s holdings in Micron Technology were worth $34,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Micron Technology by 339.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 8,548 shares of the semiconductor manufacturer’s stock valued at $886,000 after buying an additional 6,601 shares in the last quarter. Valeo Financial Advisors LLC boosted its stake in shares of Micron Technology by 2.9% in the 3rd quarter. Valeo Financial Advisors LLC now owns 9,589 shares of the semiconductor manufacturer’s stock valued at $994,000 after purchasing an additional 272 shares in the last quarter. First Affirmative Financial Network grew its holdings in shares of Micron Technology by 15.4% during the 3rd quarter. First Affirmative Financial Network now owns 3,627 shares of the semiconductor manufacturer’s stock valued at $376,000 after purchasing an additional 484 shares during the last quarter. Silverlake Wealth Management LLC increased its position in Micron Technology by 59.9% during the 3rd quarter. Silverlake Wealth Management LLC now owns 2,936 shares of the semiconductor manufacturer’s stock worth $304,000 after purchasing an additional 1,100 shares in the last quarter. Finally, HCR Wealth Advisors bought a new position in Micron Technology in the 3rd quarter valued at approximately $245,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Stock Performance

Shares of MU stock opened at $92.30 on Monday. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 52 week low of $79.15 and a 52 week high of $157.54. The firm has a 50 day moving average of $96.63 and a 200-day moving average of $99.04. The company has a market cap of $102.84 billion, a price-to-earnings ratio of 26.60 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 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. During the same period in the previous year, the firm posted ($0.95) earnings per share. The business’s revenue was up 84.3% compared to the same quarter last year. On average, equities analysts forecast that Micron Technology, Inc. will post 6.29 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were paid a $0.115 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a yield of 0.50%. Micron Technology’s dividend payout ratio (DPR) is presently 13.26%.

Analysts Set New Price Targets

MU has been the topic of a number of research reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 target price on shares of Micron Technology in a research note on Wednesday, December 18th. Bank of America lowered Micron Technology from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $125.00 to $110.00 in a research report on Thursday, December 19th. China Renaissance initiated coverage on Micron Technology in a research report on Monday, October 28th. They issued a “buy” rating and a $148.00 target price for the company. The Goldman Sachs Group reduced their price target on Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Finally, Wedbush reiterated an “outperform” rating and issued a $140.00 price objective on shares of Micron Technology in a report on Tuesday, December 17th. One investment 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 company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $134.96.

Insider Activity

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated 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 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.30% of the company’s stock.

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.