Exencial Wealth Advisors LLC Sells 3,963 Shares of Micron Technology, Inc. (NASDAQ:MU)

Exencial Wealth Advisors LLC reduced its holdings in Micron Technology, Inc. (NASDAQ:MU) by 32.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,279 shares of the semiconductor manufacturer’s stock after selling 3,963 shares during the quarter. Exencial Wealth Advisors LLC’s holdings in Micron Technology were worth $697,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Beacon Capital Management LLC increased its holdings in shares of Micron Technology by 114.9% during the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after acquiring an additional 200 shares in the last quarter. True Wealth Design LLC increased its holdings in shares of Micron Technology by 1,096.3% during the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after acquiring an additional 296 shares in the last quarter. Midwest Capital Advisors LLC bought a new stake in shares of Micron Technology during the fourth quarter valued at approximately $33,000. Stone House Investment Management LLC increased its holdings in shares of Micron Technology by 602.2% during the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 277 shares in the last quarter. Finally, Activest Wealth Management increased its holdings in shares of Micron Technology by 583.3% during the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 350 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MU has been the subject of several recent research reports. Needham & Company LLC decreased their price objective on Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, December 19th. JPMorgan Chase & Co. cut their target price on Micron Technology from $180.00 to $145.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Sanford C. Bernstein cut their target price on Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. Barclays cut their target price on Micron Technology from $145.00 to $110.00 and set an “overweight” rating on the stock in a research report on Friday, December 20th. Finally, Cantor Fitzgerald cut their target price on Micron Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $134.96.

Micron Technology Stock Up 3.4 %

Shares of NASDAQ MU opened at $94.34 on Thursday. Micron Technology, Inc. has a one year low of $83.54 and a one year high of $157.54. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The business’s fifty day moving average price is $95.91 and its 200-day moving average price is $98.60. The stock has a market capitalization of $105.11 billion, a PE ratio of 27.19 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last issued its quarterly 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 8.32% and a net margin of 13.34%. The firm had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.71 billion. During the same quarter in the prior year, the firm earned ($0.95) EPS. The business’s revenue for the quarter was up 84.3% compared to the same quarter last year. On average, equities research analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were paid a dividend of $0.115 per share. 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 payout ratio is 13.26%.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction 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 sale, the executive vice president now directly owns 181,223 shares in the company, 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. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the completion of the transaction, the director now owns 27,358 shares in the company, valued at $2,542,378.94. This represents a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by corporate insiders.

About Micron Technology

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.