RWA Wealth Partners LLC Purchases 60,906 Shares of Micron Technology, Inc. (NASDAQ:MU)

RWA Wealth Partners LLC lifted its position in Micron Technology, Inc. (NASDAQ:MU) by 1,188.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,030 shares of the semiconductor manufacturer’s stock after buying an additional 60,906 shares during the period. RWA Wealth Partners LLC’s holdings in Micron Technology were worth $5,557,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Micron Technology by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer’s stock valued at $8,403,982,000 after buying an additional 888,087 shares in the last quarter. State Street Corp lifted its position in Micron Technology by 3.1% in the 3rd quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock valued at $5,001,592,000 after acquiring an additional 1,434,568 shares in the last quarter. Geode Capital Management LLC boosted its stake in Micron Technology by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 23,723,545 shares of the semiconductor manufacturer’s stock worth $2,451,987,000 after purchasing an additional 892,607 shares during the period. Norges Bank bought a new position in Micron Technology during the 4th quarter worth about $1,470,875,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Micron Technology by 1.5% in the 4th quarter. Bank of New York Mellon Corp now owns 9,956,311 shares of the semiconductor manufacturer’s stock valued at $837,923,000 after purchasing an additional 144,897 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insiders Place Their Bets

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the sale, the director now directly owns 27,358 shares in the company, valued at approximately $2,542,378.94. This represents a 8.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the firm’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value of $1,442,700.00. Following the completion of the transaction, the executive vice president now owns 164,769 shares in the company, valued at $15,847,482.42. The trade was a 8.34 % 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 Price Performance

Shares of MU opened at $88.44 on Monday. The firm has a market capitalization of $98.84 billion, a PE ratio of 25.49 and a beta of 1.23. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The company’s 50-day moving average is $96.00 and its 200-day moving average is $98.51. Micron Technology, Inc. has a fifty-two week low of $83.54 and a fifty-two week high of $157.54.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.13. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. During the same period last year, the business posted $0.42 earnings per share. The business’s revenue for the quarter was up 38.2% compared to the same quarter last year. Equities analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date is Monday, March 31st. Micron Technology’s dividend payout ratio is 11.03%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. China Renaissance cut Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 price objective for the company. in a research report on Wednesday, March 26th. KGI Securities raised shares of Micron Technology to a “strong-buy” rating in a research note on Friday, February 21st. Needham & Company LLC cut their price objective on shares of Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Wells Fargo & Company reduced their target price on shares of Micron Technology from $140.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Finally, Morgan Stanley lifted their price target on shares of Micron Technology from $91.00 to $112.00 and gave the company an “equal weight” rating in a research note on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $129.76.

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.