Arkadios Wealth Advisors Increases Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Arkadios Wealth Advisors grew its stake in Micron Technology, Inc. (NASDAQ:MU) by 81.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 15,066 shares of the semiconductor manufacturer’s stock after buying an additional 6,784 shares during the quarter. Arkadios Wealth Advisors’ holdings in Micron Technology were worth $1,268,000 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 bought a new position in shares of Micron Technology during the 3rd quarter valued at about $26,000. Davis Capital Management bought a new position in Micron Technology during the third quarter valued at approximately $30,000. True Wealth Design LLC raised its stake in shares of Micron Technology by 1,096.3% during the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after acquiring an additional 296 shares in the last quarter. DT Investment Partners LLC lifted its holdings in shares of Micron Technology by 261.1% in the 3rd quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 235 shares during the last quarter. Finally, Stone House Investment Management LLC boosted its stake in shares of Micron Technology by 602.2% in the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 277 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Analysts Set New Price Targets

MU has been the subject of several recent research reports. 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 research note on Thursday, December 19th. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 target price on shares of Micron Technology in a research note on Wednesday, December 18th. Cantor Fitzgerald reduced their price target on Micron Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Robert W. Baird decreased their price target on Micron Technology from $150.00 to $130.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. Finally, The Goldman Sachs Group cut their target price on shares of Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $135.24.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were 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. The trade was a 2.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.30% of the company’s stock.

Micron Technology Stock Up 3.1 %

NASDAQ:MU opened at $105.75 on Monday. 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’s 50-day moving average price is $97.87 and its 200-day moving average price is $102.27. The company 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.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.71 billion. During the same quarter in the prior year, the company earned ($0.95) earnings per share. The business’s revenue was up 84.3% compared to the same quarter last year. On average, equities analysts predict that Micron Technology, Inc. will post 6.25 EPS for the current fiscal year.

Micron Technology Dividend Announcement

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