Onyx Bridge Wealth Group LLC Has $204,000 Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Onyx Bridge Wealth Group LLC reduced its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 18.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,428 shares of the semiconductor manufacturer’s stock after selling 560 shares during the period. Onyx Bridge Wealth Group LLC’s holdings in Micron Technology were worth $204,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of MU. Wedmont Private Capital lifted its position in shares of Micron Technology by 0.9% during the 3rd quarter. Wedmont Private Capital now owns 12,887 shares of the semiconductor manufacturer’s stock worth $1,326,000 after buying an additional 120 shares during the last quarter. Sanibel Captiva Trust Company Inc. lifted its position in shares of Micron Technology by 99.3% during the 3rd quarter. Sanibel Captiva Trust Company Inc. now owns 8,591 shares of the semiconductor manufacturer’s stock worth $891,000 after buying an additional 4,281 shares during the last quarter. Bruce G. Allen Investments LLC raised its position in Micron Technology by 53.4% in the third quarter. Bruce G. Allen Investments LLC now owns 934 shares of the semiconductor manufacturer’s stock valued at $97,000 after purchasing an additional 325 shares during the last quarter. Somerset Trust Co raised its position in Micron Technology by 3.8% in the third quarter. Somerset Trust Co now owns 4,270 shares of the semiconductor manufacturer’s stock valued at $443,000 after purchasing an additional 156 shares during the last quarter. Finally, UMB Bank n.a. raised its position in Micron Technology by 6.8% in the third quarter. UMB Bank n.a. now owns 5,629 shares of the semiconductor manufacturer’s stock valued at $584,000 after purchasing an additional 356 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on MU. China Renaissance began coverage on Micron Technology in a research report on Monday, October 28th. They issued a “buy” rating and a $148.00 target price for the company. The Goldman Sachs Group dropped their target price on Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 target price on shares of Micron Technology in a research report on Wednesday, December 18th. Piper Sandler dropped their target price on Micron Technology from $150.00 to $120.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Finally, Bank of America downgraded Micron Technology from a “buy” rating to a “neutral” rating and dropped their target price for the company from $125.00 to $110.00 in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $134.96.

Micron Technology Trading Up 1.0 %

NASDAQ MU opened at $94.54 on Friday. The business has a 50 day simple moving average of $96.82 and a 200 day simple moving average of $99.34. Micron Technology, Inc. has a one year low of $79.15 and a one year high of $157.54. The stock has a market capitalization of $105.33 billion, a P/E ratio of 27.24 and a beta of 1.18. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.71 billion. During the same quarter last year, the firm posted ($0.95) earnings per share. The company’s revenue for the quarter was up 84.3% compared to the same quarter last year. Research analysts expect that Micron Technology, Inc. will post 6.29 earnings per share for the current year.

Micron Technology Announces Dividend

The company 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 dividend on an annualized basis and a yield of 0.49%. Micron Technology’s dividend payout ratio (DPR) is presently 13.26%.

Insider Buying and Selling at Micron Technology

In related 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 transaction, the executive vice president now owns 181,223 shares of the company’s stock, valued at $15,442,011.83. The trade was a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.30% of the company’s stock.

About Micron Technology

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.