Orion Portfolio Solutions LLC Raises Stake in Micron Technology, Inc. (NASDAQ:MU)

Orion Portfolio Solutions LLC increased its holdings in Micron Technology, Inc. (NASDAQ:MU) by 2.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 48,342 shares of the semiconductor manufacturer’s stock after buying an additional 1,045 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Micron Technology were worth $4,068,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. True Wealth Design LLC lifted 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 valued at $33,000 after buying an additional 296 shares during the period. Beacon Capital Management LLC lifted its holdings 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 acquiring an additional 200 shares during the period. Midwest Capital Advisors LLC purchased a new stake in Micron Technology in the 4th quarter worth approximately $33,000. Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Micron Technology during the 4th quarter worth approximately $34,000. Finally, Curio Wealth LLC purchased a new position in shares of Micron Technology during the 4th quarter valued at approximately $34,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP April S. Arnzen sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the sale, the executive vice president now directly owns 164,769 shares of the company’s stock, valued at approximately $15,847,482.42. The trade was a 8.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the transaction, the director now directly owns 27,358 shares of the company’s stock, valued at $2,542,378.94. The trade was a 8.08 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

MU has been the topic of several analyst reports. Morgan Stanley raised their price target on shares of Micron Technology from $91.00 to $112.00 and gave the company an “equal weight” rating in a research report on Friday, March 21st. Stifel Nicolaus dropped their target price on Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Wells Fargo & Company cut their price target on Micron Technology from $140.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Needham & Company LLC lowered their price target on Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Finally, TD Cowen cut their price objective on Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $129.76.

Micron Technology Price Performance

MU stock opened at $88.44 on Monday. Micron Technology, Inc. has a 1 year low of $83.54 and a 1 year high of $157.54. The firm has a market capitalization of $98.84 billion, a PE ratio of 25.49 and a beta of 1.23. 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 has a 50 day simple moving average of $96.00 and a 200-day simple moving average of $98.51.

Micron Technology (NASDAQ:MU) last issued its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. The business had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company’s revenue for the quarter was up 38.2% on a year-over-year basis. During the same period last year, the company earned $0.42 EPS. Equities research analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.115 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.46 annualized dividend and a yield of 0.52%. Micron Technology’s payout ratio is 11.03%.

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.