Graypoint LLC Reduces Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Graypoint LLC trimmed its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 12.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 10,300 shares of the semiconductor manufacturer’s stock after selling 1,405 shares during the period. Graypoint LLC’s holdings in Micron Technology were worth $867,000 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. Wealth Enhancement Advisory Services LLC grew its stake in Micron Technology by 81.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 577,737 shares of the semiconductor manufacturer’s stock valued at $48,622,000 after purchasing an additional 259,627 shares during the last quarter. CWA Asset Management Group LLC grew its stake in Micron Technology by 3.7% during the 4th quarter. CWA Asset Management Group LLC now owns 48,012 shares of the semiconductor manufacturer’s stock valued at $4,041,000 after purchasing an additional 1,717 shares during the last quarter. Nordea Investment Management AB grew its stake in Micron Technology by 6.2% during the 4th quarter. Nordea Investment Management AB now owns 286,363 shares of the semiconductor manufacturer’s stock valued at $24,327,000 after purchasing an additional 16,622 shares during the last quarter. Everence Capital Management Inc. grew its stake in Micron Technology by 12.2% during the 4th quarter. Everence Capital Management Inc. now owns 27,900 shares of the semiconductor manufacturer’s stock valued at $2,348,000 after purchasing an additional 3,040 shares during the last quarter. Finally, NRI Wealth Management LC purchased a new stake in Micron Technology during the 4th quarter valued at about $1,010,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred 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 sale, the executive vice president now owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.30% of the company’s stock.

Micron Technology Price Performance

Shares of Micron Technology stock opened at $99.34 on Friday. The business has a 50 day simple moving average of $98.68 and a two-hundred day simple moving average of $103.69. Micron Technology, Inc. has a 12 month low of $79.15 and a 12 month high of $157.54. The stock has a market capitalization of $110.68 billion, a P/E ratio of 146.09 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 (NASDAQ:MU) last announced its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The business had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.71 billion. During the same quarter in the prior year, the firm earned ($0.95) earnings per share. The business’s revenue was up 84.3% compared to the same quarter last year. As a group, analysts predict that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th will be issued a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.46%. Micron Technology’s payout ratio is currently 13.26%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 price target on shares of Micron Technology in a research note on Wednesday, December 18th. Bank of America downgraded Micron Technology from a “buy” rating to a “neutral” rating and dropped their price target for the company from $125.00 to $110.00 in a research note on Thursday, December 19th. Susquehanna decreased their price objective on Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a report on Thursday, September 26th. TD Cowen decreased their price objective on Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Finally, Wedbush reissued an “outperform” rating and issued a $140.00 price objective on shares of Micron Technology in a report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat.com, Micron Technology presently has a consensus rating of “Moderate Buy” and a consensus 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.