Joule Financial LLC Sells 313 Shares of Micron Technology, Inc. (NASDAQ:MU)

Joule Financial LLC cut its holdings in Micron Technology, Inc. (NASDAQ:MU) by 5.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,541 shares of the semiconductor manufacturer’s stock after selling 313 shares during the quarter. Joule Financial LLC’s holdings in Micron Technology were worth $466,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Highline Wealth Partners LLC bought a new position in Micron Technology in the 3rd quarter worth $26,000. Davis Capital Management bought a new position in Micron Technology in the third quarter worth about $30,000. Strategic Investment Solutions Inc. IL purchased a new stake in Micron Technology in the second quarter worth about $39,000. Stone House Investment Management LLC boosted its position 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 acquiring an additional 277 shares in the last quarter. Finally, True Wealth Design LLC grew its holdings in shares of Micron Technology by 1,096.3% during the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after acquiring an additional 296 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Trading Up 3.1 %

Shares of MU opened at $105.75 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The firm has a market cap of $117.82 billion, a P/E ratio of 30.48 and a beta of 1.18. The company has a 50 day simple moving average of $97.87 and a two-hundred day simple moving average of $102.48. Micron Technology, Inc. has a 1 year low of $79.15 and a 1 year high of $157.54.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data 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 business had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.71 billion. During the same period in the prior year, the firm earned ($0.95) EPS. The company’s revenue for the quarter was up 84.3% on a year-over-year basis. On average, equities analysts expect that Micron Technology, Inc. will post 6.25 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s dividend payout ratio (DPR) is 13.26%.

Insider Activity

In other news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was 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 of the company’s stock, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on MU shares. Sanford C. Bernstein reduced their target price on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. Rosenblatt Securities restated a “buy” rating and issued a $250.00 price objective on shares of Micron Technology in a report on Wednesday, December 18th. Robert W. Baird decreased their target price on shares of Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a research note on Thursday, December 19th. Morgan Stanley cut their price target on Micron Technology from $114.00 to $98.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 19th. Finally, Wedbush reiterated an “outperform” rating and set a $140.00 price objective on shares of Micron Technology in a research note on Tuesday, December 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat, Micron Technology has a consensus rating of “Moderate Buy” and a consensus target price of $135.24.

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.