Raymond James Financial Inc. Buys New Position in Micron Technology, Inc. (NASDAQ:MU)

Raymond James Financial Inc. purchased a new position in Micron Technology, Inc. (NASDAQ:MU) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,614,360 shares of the semiconductor manufacturer’s stock, valued at approximately $135,865,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Stone House Investment Management LLC raised its holdings in shares of Micron Technology by 602.2% during the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 277 shares in the last quarter. True Wealth Design LLC grew its position in Micron Technology by 1,096.3% during the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after acquiring an additional 296 shares during the last quarter. Beacon Capital Management LLC raised its stake in shares of Micron Technology by 114.9% during the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after acquiring an additional 200 shares in the last quarter. Darwin Wealth Management LLC bought a new stake in shares of Micron Technology in the 3rd quarter worth approximately $39,000. Finally, Midwest Capital Advisors LLC purchased a new stake in shares of Micron Technology in the 4th quarter valued at $33,000. Institutional investors own 80.84% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Piper Sandler decreased their target price on shares of Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Morgan Stanley decreased their price objective on Micron Technology from $98.00 to $91.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 28th. Mizuho lowered their target price on Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday, December 19th. Cantor Fitzgerald reduced their price target on Micron Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Finally, UBS Group lowered their price objective on 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 research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Micron Technology has an average rating of “Moderate Buy” and a consensus target price of $134.96.

Micron Technology Trading Up 4.1 %

Micron Technology stock opened at $92.96 on Friday. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The business’s fifty day simple moving average is $95.99 and its two-hundred day simple moving average is $98.43. Micron Technology, Inc. has a 12 month low of $83.54 and a 12 month high of $157.54. The company has a market capitalization of $103.57 billion, a price-to-earnings ratio of 26.79 and a beta of 1.23.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, topping the consensus estimate of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.71 billion. During the same period in the previous year, the company posted ($0.95) earnings per share. The company’s revenue for the quarter was up 84.3% compared to the same quarter last year. As a group, equities analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s dividend payout ratio is currently 13.26%.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction on 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 $15,442,011.83. The trade was a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total value of $223,403.72. Following the sale, the director now owns 27,358 shares of the company’s stock, valued at approximately $2,542,378.94. This trade represents a 8.08 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Micron Technology 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.