Everence Capital Management Inc. Acquires 3,040 Shares of Micron Technology, Inc. (NASDAQ:MU)

Everence Capital Management Inc. increased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 12.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,900 shares of the semiconductor manufacturer’s stock after buying an additional 3,040 shares during the quarter. Everence Capital Management Inc.’s holdings in Micron Technology were worth $2,348,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Highline Wealth Partners LLC acquired a new position in shares of Micron Technology in the third quarter valued at approximately $26,000. Davis Capital Management acquired a new position in Micron Technology in the 3rd quarter valued at approximately $30,000. True Wealth Design LLC raised its stake 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 during the last quarter. DT Investment Partners LLC lifted its holdings in shares of Micron Technology by 261.1% during the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 235 shares during the period. Finally, Stone House Investment Management LLC grew its stake 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 purchasing an additional 277 shares during the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred 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 of the company’s stock, valued at approximately $15,442,011.83. The trade was a 2.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.30% of the company’s stock.

Micron Technology Price Performance

NASDAQ MU traded up $1.25 on Friday, reaching $88.58. 6,335,147 shares of the company’s stock traded hands, compared to its average volume of 12,383,480. The stock has a market cap of $98.69 billion, a PE ratio of 130.27 and a beta of 1.16. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. Micron Technology, Inc. has a 12 month low of $79.15 and a 12 month high of $157.54. The stock has a 50-day simple moving average of $99.42 and a 200 day simple moving average of $105.69.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.19. The company had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.71 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. Micron Technology’s quarterly revenue was up 84.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.95) EPS. As a group, research analysts predict that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th will be given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date is Monday, December 30th. Micron Technology’s payout ratio is 13.26%.

Analyst Upgrades and Downgrades

MU has been the topic of a number of analyst reports. China Renaissance started coverage on Micron Technology in a research report on Monday, October 28th. They issued a “buy” rating and a $148.00 price target on the stock. Morgan Stanley reduced their price objective on shares of Micron Technology from $114.00 to $98.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 19th. Citigroup dropped their target price on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. The Goldman Sachs Group reduced their price objective on shares of Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Finally, Stifel Nicolaus dropped their price target on Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat.com, Micron Technology presently has an average rating of “Moderate Buy” and an average target price of $135.24.

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.