Fortitude Family Office LLC Sells 130 Shares of Micron Technology, Inc. (NASDAQ:MU)

Fortitude Family Office LLC reduced its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 1.8% in the 4th quarter, Holdings Channel reports. The firm owned 7,175 shares of the semiconductor manufacturer’s stock after selling 130 shares during the quarter. Fortitude Family Office LLC’s holdings in Micron Technology were worth $604,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Van ECK Associates Corp increased its position in shares of Micron Technology by 30.6% during the third quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock worth $1,109,769,000 after buying an additional 2,477,985 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Micron Technology by 21.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock valued at $1,174,643,000 after acquiring an additional 2,022,180 shares during the last quarter. State Street Corp grew its holdings in Micron Technology by 3.1% during the 3rd quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock worth $5,001,592,000 after acquiring an additional 1,434,568 shares during the period. Worldquant Millennium Advisors LLC grew its holdings in Micron Technology by 254.4% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 1,859,416 shares of the semiconductor manufacturer’s stock worth $192,840,000 after acquiring an additional 1,334,690 shares during the period. Finally, International Assets Investment Management LLC raised its position in shares of Micron Technology by 1,233.7% in the 3rd quarter. International Assets Investment Management LLC now owns 1,430,619 shares of the semiconductor manufacturer’s stock worth $145,470,000 after acquiring an additional 1,323,352 shares in the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Price Performance

MU opened at $99.41 on Friday. The firm’s fifty day moving average price is $98.69 and its two-hundred day moving average price is $103.97. The company has a market capitalization of $110.76 billion, a price-to-earnings ratio of 146.19 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. Micron Technology, Inc. has a 1 year low of $79.15 and a 1 year high of $157.54.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.19. The business had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.71 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The firm’s revenue for the quarter was up 84.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.95) earnings per share. As a group, analysts anticipate that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 30th will be given 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 is Monday, December 30th. Micron Technology’s payout ratio is 13.26%.

Insider Buying and Selling

In related 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 value of $416,676.90. Following the sale, the executive vice president now owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. The trade was a 2.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Raymond James raised their target price on Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. TD Cowen reduced their price objective on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Wedbush reiterated an “outperform” rating and issued a $140.00 price objective on shares of Micron Technology in a research note on Tuesday, December 17th. Needham & Company LLC cut their target price on shares of Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Finally, Morgan Stanley reduced their price target on shares of Micron Technology from $114.00 to $98.00 and set an “equal weight” rating for the company in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat, Micron Technology currently has an average rating of “Moderate Buy” and an average price target of $135.24.

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.