Midwest Financial Group LLC Grows Position in Micron Technology, Inc. (NASDAQ:MU)

Midwest Financial Group LLC lifted its holdings in Micron Technology, Inc. (NASDAQ:MU) by 6.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,480 shares of the semiconductor manufacturer’s stock after buying an additional 1,330 shares during the period. Micron Technology makes up 1.0% of Midwest Financial Group LLC’s holdings, making the stock its 27th biggest position. Midwest Financial Group LLC’s holdings in Micron Technology were worth $1,808,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MU. Highline Wealth Partners LLC purchased a new position in shares of Micron Technology during the 3rd quarter worth $26,000. Davis Capital Management purchased a new position in Micron Technology during the third quarter worth about $30,000. Strategic Investment Solutions Inc. IL acquired a new position in Micron Technology in the 2nd quarter valued at about $39,000. Stone House Investment Management LLC grew 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 buying an additional 277 shares during the period. Finally, True Wealth Design LLC increased its holdings in shares of Micron Technology by 1,096.3% during the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after buying an additional 296 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on MU shares. China Renaissance initiated coverage on shares of Micron Technology in a research report on Monday, October 28th. They issued a “buy” rating and a $148.00 target price on the stock. Cantor Fitzgerald lowered their price objective on shares of Micron Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Morgan Stanley cut their target price on Micron Technology from $114.00 to $98.00 and set an “equal weight” rating on the stock in a research report on Thursday, December 19th. Stifel Nicolaus lowered their price target on Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Finally, KeyCorp cut their price objective on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Micron Technology presently has an average rating of “Moderate Buy” and a consensus target price of $135.24.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $103.87 on Friday. Micron Technology, Inc. has a 52 week low of $79.15 and a 52 week high of $157.54. The company has a 50-day moving average price of $98.11 and a 200 day moving average price of $101.70. The company has a market cap of $115.73 billion, a P/E ratio of 30.06 and a beta of 1.18. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (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 firm 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 business posted ($0.95) earnings per share. Micron Technology’s revenue was up 84.3% compared to the same quarter last year. Research analysts predict that Micron Technology, Inc. will post 6.29 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were given a $0.115 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 annualized dividend and a dividend yield of 0.44%. Micron Technology’s dividend payout ratio is presently 13.26%.

Insider Activity at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the transaction, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at $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 is available at this link. 0.30% of the stock is owned by corporate insiders.

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.