Silverlake Wealth Management LLC Sells 200 Shares of Micron Technology, Inc. (NASDAQ:MU)

Silverlake Wealth Management LLC lowered its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 6.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,736 shares of the semiconductor manufacturer’s stock after selling 200 shares during the quarter. Silverlake Wealth Management LLC’s holdings in Micron Technology were worth $230,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in MU. Highline Wealth Partners LLC purchased a new stake in Micron Technology during the 3rd quarter valued at $26,000. Stone House Investment Management LLC boosted its position in Micron Technology by 602.2% during 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. True Wealth Design LLC boosted its position in Micron Technology by 1,096.3% during the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after buying an additional 296 shares during the period. DT Investment Partners LLC boosted its position in Micron Technology by 261.1% during the 3rd quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 235 shares during the period. Finally, Darwin Wealth Management LLC purchased a new stake in Micron Technology during the 3rd quarter valued at $39,000. Institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Up 3.2 %

NASDAQ:MU opened at $93.60 on Thursday. The firm has a market cap of $104.29 billion, a P/E ratio of 26.97 and a beta of 1.18. 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 fifty-two week low of $79.15 and a fifty-two week high of $157.54. The firm has a 50-day simple moving average of $96.91 and a two-hundred day simple moving average of $99.38.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. The business had revenue of $8.71 billion during 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%. Micron Technology’s revenue was up 84.3% compared to the same quarter last year. During the same period last year, the business earned ($0.95) EPS. Analysts predict that Micron Technology, Inc. will post 6.29 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were paid a $0.115 dividend. The ex-dividend date was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.49%. Micron Technology’s dividend payout ratio is presently 13.26%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MU. Robert W. Baird dropped their price target on shares of Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. Barclays dropped their target price on shares of Micron Technology from $145.00 to $110.00 and set an “overweight” rating for the company in a research report on Friday, December 20th. TD Cowen dropped their target price 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. UBS Group dropped their target price 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. Finally, Sanford C. Bernstein dropped their target price on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. One 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $134.96.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the completion of the sale, the executive vice president now directly owns 181,223 shares in the company, 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 through this hyperlink. Company insiders own 0.30% of the company’s stock.

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.