KG&L Capital Management LLC lessened its holdings in Micron Technology, Inc. (NASDAQ:MU – Get Rating) by 26.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,535 shares of the semiconductor manufacturer’s stock after selling 5,300 shares during the quarter. KG&L Capital Management LLC’s holdings in Micron Technology were worth $1,354,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Selective Wealth Management Inc. acquired a new stake in shares of Micron Technology during the fourth quarter worth about $28,000. Old North State Trust LLC raised its position in Micron Technology by 91.1% during the third quarter. Old North State Trust LLC now owns 472 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 225 shares in the last quarter. Activest Wealth Management raised its position in Micron Technology by 237.3% during the fourth quarter. Activest Wealth Management now owns 398 shares of the semiconductor manufacturer’s stock valued at $37,000 after acquiring an additional 280 shares in the last quarter. Pacifica Partners Inc. raised its position in Micron Technology by 93.0% during the fourth quarter. Pacifica Partners Inc. now owns 415 shares of the semiconductor manufacturer’s stock valued at $39,000 after acquiring an additional 200 shares in the last quarter. Finally, Capital Analysts LLC raised its position in Micron Technology by 38.6% during the third quarter. Capital Analysts LLC now owns 575 shares of the semiconductor manufacturer’s stock valued at $41,000 after acquiring an additional 160 shares in the last quarter. 76.07% of the stock is owned by institutional investors and hedge funds.
MU traded up $6.56 during trading on Thursday, reaching $79.67. The stock had a trading volume of 35,715,814 shares, compared to its average volume of 22,045,703. The firm has a market capitalization of $89.21 billion, a price-to-earnings ratio of 12.29, a price-to-earnings-growth ratio of 0.35 and a beta of 1.17. The company has a quick ratio of 2.36, a current ratio of 3.10 and a debt-to-equity ratio of 0.15. Micron Technology, Inc. has a 1-year low of $65.67 and a 1-year high of $98.45. The stock has a 50 day moving average of $86.67 and a two-hundred day moving average of $80.75.
Micron Technology (NASDAQ:MU – Get Rating) last released its earnings results on Monday, December 20th. The semiconductor manufacturer reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $2.11 by $0.05. The firm had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.68 billion. Micron Technology had a return on equity of 19.01% and a net margin of 24.86%. The firm’s revenue for the quarter was up 33.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.71 earnings per share. On average, research analysts forecast that Micron Technology, Inc. will post 8.67 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 18th. Shareholders of record on Monday, January 3rd were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, December 31st. This represents a $0.40 annualized dividend and a dividend yield of 0.50%. Micron Technology’s dividend payout ratio is currently 6.17%.
In other Micron Technology news, SVP April S. Arnzen sold 8,300 shares of the business’s stock in a transaction on Monday, December 20th. The shares were sold at an average price of $82.09, for a total transaction of $681,347.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Robert P. Beard sold 266 shares of the business’s stock in a transaction on Wednesday, February 16th. The shares were sold at an average price of $96.17, for a total transaction of $25,581.22. The disclosure for this sale can be found here. Insiders sold 240,673 shares of company stock worth $22,973,742 in the last ninety days. 0.32% of the stock is owned by corporate insiders.
Several brokerages recently weighed in on MU. BMO Capital Markets began coverage on Micron Technology in a research report on Tuesday, December 21st. They set a “buy” rating and a $115.00 price target for the company. Credit Suisse Group boosted their price objective on Micron Technology from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, December 21st. Raymond James lifted their price target on Micron Technology from $100.00 to $115.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, December 21st. JPMorgan Chase & Co. boosted their price objective on Micron Technology from $100.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 21st. Finally, Morgan Stanley upped their price target on Micron Technology from $75.00 to $77.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 21st. Five research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $113.54.
Micron Technology Profile (Get Rating)
Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute & Networking Business Unit (CNBU), Mobile Business Unit (MBU), Storage Business Unit (SBU), and Embedded Business Unit (EBU). The CNBU segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.
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