Allworth Financial LP Raises Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Allworth Financial LP grew its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 28.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,717 shares of the semiconductor manufacturer’s stock after buying an additional 1,933 shares during the quarter. Allworth Financial LP’s holdings in Micron Technology were worth $734,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in MU. Highline Wealth Partners LLC purchased a new stake in Micron Technology during the third quarter valued at approximately $26,000. Beacon Capital Management LLC raised its holdings in Micron Technology by 114.9% during the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after buying an additional 200 shares during the period. True Wealth Design LLC raised its holdings in Micron Technology by 1,096.3% during the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after buying an additional 296 shares during the period. DT Investment Partners LLC raised its holdings in Micron Technology by 261.1% during the 3rd quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 235 shares during the period. Finally, Stone House Investment Management LLC raised its holdings in Micron Technology by 602.2% during the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 277 shares during the period. Institutional investors own 80.84% of the company’s stock.

Insider Activity at Micron Technology

In other 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 completion of the transaction, the executive vice president now directly owns 181,223 shares in the company, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on MU. Morgan Stanley dropped their price target on shares of Micron Technology from $98.00 to $91.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 28th. Sanford C. Bernstein dropped their price target on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, December 18th. The Goldman Sachs Group reduced their price target on Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Robert W. Baird reduced their price target on Micron Technology from $150.00 to $130.00 and set an “outperform” rating on the stock in a report on Thursday, December 19th. Finally, Wedbush reiterated an “outperform” rating and issued a $140.00 price target on shares of Micron Technology in a report on Tuesday, December 17th. 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $134.96.

Micron Technology Trading Down 2.3 %

NASDAQ:MU opened at $104.36 on Thursday. Micron Technology, Inc. has a 52 week low of $79.15 and a 52 week high of $157.54. The firm has a 50 day moving average of $96.25 and a 200 day moving average of $98.67. 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 capitalization of $116.27 billion, a price-to-earnings ratio of 30.07 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share 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 for the quarter, compared to the consensus estimate of $8.71 billion. During the same period in the previous year, the business earned ($0.95) EPS. The firm’s revenue for the quarter was up 84.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Micron Technology, Inc. will post 6.21 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were given a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s payout ratio is currently 13.26%.

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.