Diversify Advisory Services LLC Has $488,000 Position in Micron Technology, Inc. (NASDAQ:MU)

Diversify Advisory Services LLC lessened its holdings in Micron Technology, Inc. (NASDAQ:MU) by 18.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,800 shares of the semiconductor manufacturer’s stock after selling 1,271 shares during the period. Diversify Advisory Services LLC’s holdings in Micron Technology were worth $488,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Highline Wealth Partners LLC acquired a new position in shares of Micron Technology in the 3rd quarter worth approximately $26,000. Davis Capital Management acquired a new position in Micron Technology during the third quarter worth $30,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Micron Technology during the second quarter valued at $39,000. Stone House Investment Management LLC boosted its stake in shares of Micron Technology by 602.2% in the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 277 shares in the last quarter. Finally, True Wealth Design LLC grew its holdings in shares of Micron Technology by 1,096.3% in the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after purchasing an additional 296 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Up 3.4 %

Shares of Micron Technology stock opened at $109.38 on Wednesday. The firm has a market cap of $121.87 billion, a PE ratio of 31.52 and a beta of 1.18. The business’s 50 day simple moving average is $97.82 and its 200 day simple moving average is $101.80. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. Micron Technology, Inc. has a 52-week low of $79.15 and a 52-week high of $157.54.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. The business had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm’s revenue for the quarter was up 84.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.95) earnings per share. On average, analysts predict that Micron Technology, Inc. will post 6.25 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s payout ratio is presently 13.26%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Rosenblatt Securities restated a “buy” rating and issued a $250.00 price target on shares of Micron Technology in a research report on Wednesday, December 18th. Morgan Stanley reduced their target price on Micron Technology from $114.00 to $98.00 and set an “equal weight” rating on the stock in a report on Thursday, December 19th. Barclays dropped their price target on Micron Technology from $145.00 to $110.00 and set an “overweight” rating for the company in a report on Friday, December 20th. Piper Sandler reduced their price objective on Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Finally, Wedbush restated an “outperform” rating and issued a $140.00 target price 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 company’s stock. Based on data from MarketBeat, Micron Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $135.24.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the transaction, the executive vice president now owns 181,223 shares of the company’s stock, valued at $15,442,011.83. The trade was a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.30% of the stock is owned by company insiders.

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.