Guyasuta Investment Advisors Inc. Increases Position in Micron Technology, Inc. (NASDAQ:MU)

Guyasuta Investment Advisors Inc. grew its stake in Micron Technology, Inc. (NASDAQ:MU) by 0.7% during the fourth quarter, HoldingsChannel reports. The fund owned 172,922 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,198 shares during the quarter. Guyasuta Investment Advisors Inc.’s holdings in Micron Technology were worth $14,553,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MU. Manchester Capital Management LLC lifted its holdings in shares of Micron Technology by 36.3% in the 4th quarter. Manchester Capital Management LLC now owns 4,510 shares of the semiconductor manufacturer’s stock valued at $380,000 after buying an additional 1,202 shares during the period. Empire Life Investments Inc. raised its holdings in Micron Technology by 2.0% in the 4th quarter. Empire Life Investments Inc. now owns 113,294 shares of the semiconductor manufacturer’s stock worth $9,535,000 after purchasing an additional 2,245 shares during the period. Myriad Asset Management US LP acquired a new position in Micron Technology in the 4th quarter worth about $923,000. Adell Harriman & Carpenter Inc. raised its holdings in Micron Technology by 21.5% in the 4th quarter. Adell Harriman & Carpenter Inc. now owns 78,821 shares of the semiconductor manufacturer’s stock worth $6,634,000 after purchasing an additional 13,946 shares during the period. Finally, Bank Pictet & Cie Europe AG raised its holdings in Micron Technology by 19.5% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 85,722 shares of the semiconductor manufacturer’s stock worth $7,214,000 after purchasing an additional 13,985 shares during the period. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on 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 sale, the executive vice president now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.30% of the company’s stock.

Micron Technology Stock Performance

NASDAQ:MU opened at $99.52 on Friday. The firm has a market capitalization of $110.88 billion, a PE ratio of 28.68 and a beta of 1.18. The business’s fifty day moving average price is $96.13 and its 200 day moving average price is $98.70. 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 12 month low of $79.15 and a 12 month high of $157.54.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating the consensus estimate of $1.60 by $0.19. The firm had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. Micron Technology’s revenue for the quarter was up 84.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.95) earnings per share. On average, sell-side analysts anticipate that Micron Technology, Inc. will post 6.29 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently declared 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 dividend yield of 0.46%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s dividend payout ratio is currently 13.26%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MU. Robert W. Baird reduced their price target on Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. Piper Sandler cut their price objective on Micron Technology from $150.00 to $120.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. UBS Group cut their price objective on Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Wells Fargo & Company cut their price objective on Micron Technology from $175.00 to $140.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Finally, Wedbush reiterated an “outperform” rating and set a $140.00 price objective on shares of Micron Technology in a research note on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $134.96.

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.