Howe & Rusling Inc. Increases Position in Micron Technology, Inc. (NASDAQ:MU)

Howe & Rusling Inc. increased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 0.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 104,485 shares of the semiconductor manufacturer’s stock after acquiring an additional 517 shares during the quarter. Howe & Rusling Inc.’s holdings in Micron Technology were worth $8,793,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Beacon Capital Management LLC raised its stake in Micron Technology by 114.9% in the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after purchasing an additional 200 shares in the last quarter. True Wealth Design LLC boosted its position in 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 buying an additional 296 shares during the period. Midwest Capital Advisors LLC bought a new position in shares of Micron Technology during the fourth quarter valued at about $33,000. Stone House Investment Management LLC increased its holdings in shares of Micron Technology by 602.2% in the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 277 shares during the period. Finally, Activest Wealth Management boosted its holdings in Micron Technology by 583.3% during the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 350 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Buying and Selling

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the transaction, the director now directly owns 27,358 shares in the company, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.30% of the stock is owned by corporate insiders.

Micron Technology Price Performance

Shares of NASDAQ MU opened at $92.13 on Thursday. The company has a 50 day simple moving average of $96.58 and a two-hundred day simple moving average of $98.41. Micron Technology, Inc. has a fifty-two week low of $83.54 and a fifty-two week high of $157.54. The company has a market capitalization of $102.65 billion, a price-to-earnings ratio of 26.55 and a beta of 1.23. 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 (NASDAQ:MU) last posted its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.93 billion. During the same quarter last year, the company earned $0.42 EPS. The firm’s revenue for the quarter was up 38.2% on a year-over-year basis. Analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.115 per share. The ex-dividend date is Monday, March 31st. This represents a $0.46 annualized dividend and a dividend yield of 0.50%. Micron Technology’s dividend payout ratio (DPR) is presently 11.03%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Piper Sandler lowered their price objective on Micron Technology from $150.00 to $120.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. JPMorgan Chase & Co. lowered their price target on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Friday, March 21st. UBS Group raised their price target on shares of Micron Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, March 17th. Barclays upped their price objective on shares of Micron Technology from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Finally, Rosenblatt Securities cut their target price on Micron Technology from $250.00 to $200.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Micron Technology presently has an average rating of “Moderate Buy” and an average target price of $129.96.

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.