Wedmont Private Capital Boosts Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Wedmont Private Capital boosted its position in Micron Technology, Inc. (NASDAQ:MU) by 3.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,369 shares of the semiconductor manufacturer’s stock after buying an additional 482 shares during the quarter. Wedmont Private Capital’s holdings in Micron Technology were worth $1,125,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Quest Partners LLC boosted its holdings in Micron Technology by 7,328.6% in the 2nd quarter. Quest Partners LLC now owns 520 shares of the semiconductor manufacturer’s stock worth $68,000 after buying an additional 513 shares during the period. Wealthspire Advisors LLC boosted its holdings in shares of Micron Technology by 23.4% in the second quarter. Wealthspire Advisors LLC now owns 2,483 shares of the semiconductor manufacturer’s stock worth $327,000 after acquiring an additional 471 shares during the period. Oppenheimer Asset Management Inc. grew its position in shares of Micron Technology by 33.0% in the second quarter. Oppenheimer Asset Management Inc. now owns 19,816 shares of the semiconductor manufacturer’s stock valued at $2,606,000 after purchasing an additional 4,914 shares in the last quarter. Quilter Plc raised its stake in shares of Micron Technology by 1.1% during the 2nd quarter. Quilter Plc now owns 197,201 shares of the semiconductor manufacturer’s stock valued at $25,938,000 after purchasing an additional 2,119 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Micron Technology by 144.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 978,193 shares of the semiconductor manufacturer’s stock worth $128,662,000 after purchasing an additional 578,132 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Stock Performance

Shares of MU stock opened at $95.06 on Tuesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. Micron Technology, Inc. has a fifty-two week low of $79.15 and a fifty-two week high of $157.54. The company has a market capitalization of $105.90 billion, a P/E ratio of 139.80 and a beta of 1.16. The stock has a 50 day moving average price of $98.55 and a two-hundred day moving average price of $102.89.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.19. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The business had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.71 billion. During the same quarter in the prior year, the company posted ($0.95) EPS. The firm’s revenue for the quarter was up 84.3% compared to the same quarter last year. Analysts expect that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th will be given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Monday, December 30th. Micron Technology’s payout ratio is 67.65%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Raymond James increased their price target on shares of Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Robert W. Baird cut their price target on shares of Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. Bank of America cut shares of Micron Technology from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $125.00 to $110.00 in a report on Thursday, December 19th. Rosenblatt Securities reissued a “buy” rating and set a $250.00 price objective on shares of Micron Technology in a research note on Wednesday, December 18th. Finally, Wells Fargo & Company decreased 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. 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. Based on data from MarketBeat.com, Micron Technology has an average rating of “Moderate Buy” and an average price target of $135.24.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were 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 in the company, 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 through this hyperlink. 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.