Biltmore Wealth Management LLC decreased its stake in shares of Micron Technology, Inc. (NASDAQ:MU – Free Report) by 10.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,705 shares of the semiconductor manufacturer’s stock after selling 904 shares during the quarter. Biltmore Wealth Management LLC’s holdings in Micron Technology were worth $648,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in MU. Stonebrook Private Inc. increased its position in Micron Technology by 4.2% during the 3rd quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock worth $255,000 after buying an additional 98 shares during the period. John G Ullman & Associates Inc. raised its stake in Micron Technology by 2.5% in the 3rd quarter. John G Ullman & Associates Inc. now owns 4,063 shares of the semiconductor manufacturer’s stock worth $421,000 after purchasing an additional 100 shares in the last quarter. Trust Co. of Vermont boosted its holdings in Micron Technology by 14.3% in the 3rd quarter. Trust Co. of Vermont now owns 821 shares of the semiconductor manufacturer’s stock valued at $85,000 after purchasing an additional 103 shares during the period. PDS Planning Inc grew its position in shares of Micron Technology by 2.4% during the 3rd quarter. PDS Planning Inc now owns 4,382 shares of the semiconductor manufacturer’s stock worth $454,000 after purchasing an additional 104 shares in the last quarter. Finally, Legacy Financial Advisors Inc. increased its holdings in shares of Micron Technology by 5.3% during the second quarter. Legacy Financial Advisors Inc. now owns 2,357 shares of the semiconductor manufacturer’s stock worth $310,000 after purchasing an additional 118 shares during the period. Institutional investors own 80.84% of the company’s stock.
Micron Technology Trading Down 4.3 %
NASDAQ:MU opened at $95.06 on Tuesday. 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 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. The firm’s 50 day moving average is $98.55 and its 200 day moving average is $102.89. The stock has a market capitalization of $105.90 billion, a PE ratio of 139.80 and a beta of 1.16.
Micron Technology Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th will be paid a $0.115 dividend. The ex-dividend date is Monday, December 30th. This represents a $0.46 annualized dividend and a yield of 0.48%. Micron Technology’s dividend payout ratio is currently 67.65%.
Insider Activity
In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm’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 sale, the executive vice president now owns 181,223 shares of the company’s stock, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.30% of the company’s stock.
Analyst Upgrades and Downgrades
MU has been the subject of several analyst reports. Susquehanna dropped their target price on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a research report on Thursday, September 26th. Robert W. Baird reduced their target price on Micron Technology from $150.00 to $130.00 and set an “outperform” rating on the stock in a report on Thursday, December 19th. UBS Group lowered 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. China Renaissance assumed coverage on Micron Technology in a research note on Monday, October 28th. They issued a “buy” rating and a $148.00 price objective on the stock. Finally, TD Cowen lowered their price target on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Micron Technology currently has an average rating of “Moderate Buy” and a consensus target price of $135.24.
View Our Latest Stock Analysis on MU
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.
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