Faithward Advisors LLC Has $830,000 Position in Micron Technology, Inc. (NASDAQ:MU)

Faithward Advisors LLC decreased its stake in Micron Technology, Inc. (NASDAQ:MU) by 1.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,865 shares of the semiconductor manufacturer’s stock after selling 174 shares during the period. Faithward Advisors LLC’s holdings in Micron Technology were worth $830,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in MU. Vanguard Group Inc. boosted its stake in Micron Technology by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer’s stock worth $8,403,982,000 after acquiring an additional 888,087 shares in the last quarter. FMR LLC boosted its position in shares of Micron Technology by 34.6% during the 4th quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer’s stock worth $4,012,114,000 after purchasing an additional 12,249,341 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Micron Technology by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 24,449,827 shares of the semiconductor manufacturer’s stock valued at $2,052,973,000 after buying an additional 726,282 shares during the period. Norges Bank bought a new stake in Micron Technology in the 4th quarter valued at about $1,470,875,000. Finally, Invesco Ltd. boosted its holdings in Micron Technology by 1.7% in the fourth quarter. Invesco Ltd. now owns 10,207,903 shares of the semiconductor manufacturer’s stock worth $859,097,000 after acquiring an additional 175,187 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Citigroup dropped their target price on Micron Technology from $150.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, March 21st. KGI Securities raised shares of Micron Technology to a “strong-buy” rating in a report on Friday, February 21st. The Goldman Sachs Group reduced their target price on shares of Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. China Renaissance cut shares of Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 price target on the stock. in a report on Wednesday, March 26th. Finally, Stifel Nicolaus decreased their price objective on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Micron Technology presently has an average rating of “Moderate Buy” and an average price target of $129.76.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 15,000 shares of the business’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the completion of the transaction, the executive vice president now directly owns 164,769 shares in the company, valued at $15,847,482.42. The trade was a 8.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were 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 directly owns 27,358 shares of the company’s stock, valued at approximately $2,542,378.94. This trade represents a 8.08 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Micron Technology Stock Performance

Micron Technology stock opened at $68.37 on Tuesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The company has a market capitalization of $76.41 billion, a PE ratio of 19.70 and a beta of 1.18. The company has a 50 day moving average price of $92.96 and a 200-day moving average price of $98.09. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $157.54.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.13. The firm had revenue of $8.05 billion during the quarter, compared to analysts’ expectations of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company’s revenue was up 38.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.42 EPS. As a group, equities analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently declared 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. This represents a $0.46 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Monday, March 31st. Micron Technology’s dividend payout ratio is currently 11.03%.

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.