Allen Capital Group LLC Sells 344 Shares of Micron Technology, Inc. (NASDAQ:MU)

Allen Capital Group LLC lessened its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 7.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,321 shares of the semiconductor manufacturer’s stock after selling 344 shares during the period. Allen Capital Group LLC’s holdings in Micron Technology were worth $364,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Forsta AP Fonden raised its stake in shares of Micron Technology by 4.3% during the fourth quarter. Forsta AP Fonden now owns 262,100 shares of the semiconductor manufacturer’s stock valued at $22,058,000 after acquiring an additional 10,700 shares in the last quarter. Smith Group Asset Management LLC purchased a new position in Micron Technology during the fourth quarter valued at approximately $2,525,000. UG Investment Advisers Ltd. increased its holdings in Micron Technology by 25.3% during the fourth quarter. UG Investment Advisers Ltd. now owns 609,137 shares of the semiconductor manufacturer’s stock valued at $51,265,000 after buying an additional 122,822 shares during the period. Deane Retirement Strategies Inc. purchased a new position in Micron Technology during the fourth quarter valued at approximately $2,704,000. Finally, Orca Wealth Management LLC purchased a new position in Micron Technology during the fourth quarter valued at approximately $703,000. Institutional investors own 80.84% of the company’s stock.

Micron Technology Trading Up 0.9 %

Shares of Micron Technology stock opened at $89.04 on Thursday. Micron Technology, Inc. has a 12-month low of $79.15 and a 12-month high of $157.54. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The stock has a market cap of $99.21 billion, a PE ratio of 25.66 and a beta of 1.18. The company has a 50-day moving average of $98.04 and a two-hundred day moving average of $100.48.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. During the same quarter last year, the business earned ($0.95) earnings per share. Micron Technology’s revenue was up 84.3% compared to the same quarter last year. On average, research analysts anticipate that Micron Technology, Inc. will post 6.29 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were paid a $0.115 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 annualized dividend and a yield of 0.52%. Micron Technology’s dividend payout ratio is presently 13.26%.

Analyst Ratings Changes

MU has been the topic of several analyst reports. Bank of America lowered shares of Micron Technology from a “buy” rating to a “neutral” rating and cut their price target for the stock from $125.00 to $110.00 in a report on Thursday, December 19th. JPMorgan Chase & Co. dropped their price objective on shares of Micron Technology from $180.00 to $145.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Robert W. Baird dropped their price objective on shares of Micron Technology from $150.00 to $130.00 and set an “outperform” rating on the stock in a report on Thursday, December 19th. Wedbush reissued an “outperform” rating and set a $140.00 price objective on shares of Micron Technology in a report on Tuesday, December 17th. Finally, Stifel Nicolaus dropped their price objective on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $134.96.

Insider Buying and Selling at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the transaction, the executive vice president now directly owns 181,223 shares in the company, valued at approximately $15,442,011.83. This trade represents a 2.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.30% of the company’s stock.

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.