Micron Technology, Inc. (NASDAQ:MU) Shares Bought by Trivant Custom Portfolio Group LLC

Trivant Custom Portfolio Group LLC raised its stake in Micron Technology, Inc. (NASDAQ:MU) by 20.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 600 shares of the semiconductor manufacturer’s stock after purchasing an additional 100 shares during the period. Trivant Custom Portfolio Group LLC’s holdings in Micron Technology were worth $50,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of MU. Brooklyn Investment Group grew its position in shares of Micron Technology by 2.8% during the 4th quarter. Brooklyn Investment Group now owns 7,282 shares of the semiconductor manufacturer’s stock valued at $613,000 after buying an additional 198 shares during the last quarter. Somerset Trust Co grew its stake in Micron Technology by 37.6% during the 4th quarter. Somerset Trust Co now owns 5,875 shares of the semiconductor manufacturer’s stock worth $494,000 after buying an additional 1,605 shares during the last quarter. Merit Financial Group LLC lifted its stake in Micron Technology by 170.2% in the fourth quarter. Merit Financial Group LLC now owns 15,882 shares of the semiconductor manufacturer’s stock valued at $1,337,000 after buying an additional 10,005 shares during the last quarter. Butensky & Cohen Financial Security Inc. grew its position in shares of Micron Technology by 8.0% during the fourth quarter. Butensky & Cohen Financial Security Inc. now owns 42,496 shares of the semiconductor manufacturer’s stock worth $3,576,000 after acquiring an additional 3,145 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC increased its holdings in shares of Micron Technology by 22.1% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 17,765 shares of the semiconductor manufacturer’s stock worth $1,495,000 after acquiring an additional 3,217 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MU. TD Cowen reduced their target price on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 price objective on shares of Micron Technology in a research report on Wednesday, December 18th. Mizuho decreased their price objective on Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. Cantor Fitzgerald cut 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. Finally, Sanford C. Bernstein decreased their price target on Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, December 18th. One 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $135.24.

Insider Transactions at Micron Technology

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 value of $416,676.90. Following the sale, the executive vice president now directly owns 181,223 shares in the company, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.30% of the stock is owned by insiders.

Micron Technology Trading Up 3.1 %

Shares of NASDAQ:MU opened at $105.75 on Friday. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $117.82 billion, a PE ratio of 30.48 and a beta of 1.18. Micron Technology, Inc. has a 1 year low of $79.15 and a 1 year high of $157.54. The firm has a fifty day moving average price of $98.00 and a 200 day moving average price of $102.66.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $8.71 billion. During the same quarter in the prior year, the firm posted ($0.95) EPS. The firm’s revenue for the quarter was up 84.3% on a year-over-year basis. Analysts expect that Micron Technology, Inc. will post 6.25 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were paid a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 annualized dividend and a yield of 0.43%. Micron Technology’s dividend payout ratio is 13.26%.

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.