Micron Technology, Inc. (NASDAQ:MU) Shares Sold by VisionPoint Advisory Group LLC

VisionPoint Advisory Group LLC lowered its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 15.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,880 shares of the semiconductor manufacturer’s stock after selling 2,461 shares during the quarter. VisionPoint Advisory Group LLC’s holdings in Micron Technology were worth $1,212,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in MU. Capital Advisory Group Advisory Services LLC acquired a new stake in shares of Micron Technology in the fourth quarter valued at approximately $397,000. Bank of Stockton increased its holdings in shares of Micron Technology by 3.7% in the fourth quarter. Bank of Stockton now owns 18,362 shares of the semiconductor manufacturer’s stock valued at $1,545,000 after purchasing an additional 647 shares during the last quarter. Transcend Capital Advisors LLC increased its holdings in shares of Micron Technology by 60.7% in the fourth quarter. Transcend Capital Advisors LLC now owns 6,159 shares of the semiconductor manufacturer’s stock valued at $518,000 after purchasing an additional 2,326 shares during the last quarter. Paradigm Asset Management Co. LLC increased its holdings in shares of Micron Technology by 811.1% in the fourth quarter. Paradigm Asset Management Co. LLC now owns 16,400 shares of the semiconductor manufacturer’s stock valued at $1,380,000 after purchasing an additional 14,600 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC acquired a new stake in shares of Micron Technology in the fourth quarter valued at approximately $357,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. TD Cowen cut their price target on Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Rosenblatt Securities reissued a “buy” rating and set a $250.00 target price on shares of Micron Technology in a research note on Wednesday, December 18th. Robert W. Baird cut their target price on Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a research note on Thursday, December 19th. Barclays cut their target price on Micron Technology from $145.00 to $110.00 and set an “overweight” rating for the company in a research note on Friday, December 20th. Finally, The Goldman Sachs Group cut their target price on Micron Technology from $145.00 to $128.00 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 assigned a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $134.96.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the transaction, the executive vice president now owns 181,223 shares in the company, valued at $15,442,011.83. The trade was a 2.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.30% of the company’s stock.

Micron Technology Trading Down 1.0 %

NASDAQ:MU opened at $103.28 on Friday. The firm has a market cap of $115.07 billion, a PE ratio of 29.76 and a beta of 1.18. The stock has a fifty day moving average price of $96.35 and a 200 day moving average price of $98.70. Micron Technology, Inc. has a 12-month low of $79.94 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.

Micron Technology (NASDAQ:MU) last announced its quarterly 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. The company had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. Micron Technology’s revenue for the quarter was up 84.3% on a year-over-year basis. During the same period in the previous year, the business earned ($0.95) EPS. Sell-side analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date was Monday, December 30th. Micron Technology’s dividend payout ratio (DPR) is currently 13.26%.

Micron Technology Company 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.