MONECO Advisors LLC Sells 199 Shares of Micron Technology, Inc. (NASDAQ:MU)

MONECO Advisors LLC reduced its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 4.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,710 shares of the semiconductor manufacturer’s stock after selling 199 shares during the quarter. MONECO Advisors LLC’s holdings in Micron Technology were worth $396,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Howard Capital Management Inc. lifted its holdings in Micron Technology by 3.1% during the fourth quarter. Howard Capital Management Inc. now owns 30,721 shares of the semiconductor manufacturer’s stock worth $2,585,000 after acquiring an additional 919 shares during the period. Wealthspire Advisors LLC lifted its holdings in Micron Technology by 88.0% during the fourth quarter. Wealthspire Advisors LLC now owns 5,669 shares of the semiconductor manufacturer’s stock worth $477,000 after acquiring an additional 2,654 shares during the period. Valliance Asset Management Ltd bought a new stake in Micron Technology during the fourth quarter worth $277,000. Tradewinds Capital Management LLC lifted its holdings in Micron Technology by 10.5% during the fourth quarter. Tradewinds Capital Management LLC now owns 5,110 shares of the semiconductor manufacturer’s stock worth $430,000 after acquiring an additional 485 shares during the period. Finally, Marshall Investment Management LLC bought a new stake in shares of Micron Technology in the fourth quarter valued at $51,000. 80.84% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other 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 completion of the sale, the executive vice president now 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 is accessible through this link. Corporate insiders own 0.30% of the company’s stock.

Micron Technology Price Performance

Micron Technology stock opened at $95.41 on Tuesday. Micron Technology, Inc. has a 52 week low of $83.54 and a 52 week high of $157.54. The business has a 50-day simple moving average of $96.02 and a 200 day simple moving average of $98.93. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The stock has a market cap of $106.30 billion, a price-to-earnings ratio of 27.50 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $8.71 billion. During the same quarter in the previous year, the company posted ($0.95) earnings per share. The company’s revenue was up 84.3% compared to the same quarter last year. On average, research analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s dividend payout ratio (DPR) is currently 13.26%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on MU shares. Rosenblatt Securities restated a “buy” rating and issued a $250.00 target price on shares of Micron Technology in a research note on Wednesday, December 18th. Cantor Fitzgerald lowered their target price on Micron Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Wells Fargo & Company lowered their target price on Micron Technology from $175.00 to $140.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Needham & Company LLC lowered their target price on Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Finally, Mizuho lowered their target price on Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock 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 assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $134.96.

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.