Naviter Wealth LLC Buys Shares of 10,003 Micron Technology, Inc. (NASDAQ:MU)

Naviter Wealth LLC purchased a new stake in shares of Micron Technology, Inc. (NASDAQ:MU) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 10,003 shares of the semiconductor manufacturer’s stock, valued at approximately $843,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Beacon Capital Management LLC grew its stake in Micron Technology by 114.9% in 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 in the last quarter. True Wealth Design LLC grew its position in shares of Micron Technology by 1,096.3% in the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after purchasing an additional 296 shares in the last quarter. Midwest Capital Advisors LLC purchased a new position in shares of Micron Technology in the fourth quarter valued at $33,000. Stone House Investment Management LLC raised its stake in shares of 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 purchasing an additional 277 shares during the period. Finally, Activest Wealth Management lifted its holdings in Micron Technology by 583.3% during the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 350 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on MU shares. Cantor Fitzgerald reduced their target price on Micron Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. JPMorgan Chase & Co. reduced their price objective on shares of Micron Technology from $180.00 to $145.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Barclays lowered their target price on shares of Micron Technology from $145.00 to $110.00 and set an “overweight” rating on the stock in a research note on Friday, December 20th. Rosenblatt Securities restated a “buy” rating and set a $250.00 price target on shares of Micron Technology in a research report on Wednesday, December 18th. Finally, TD Cowen lowered their price objective on Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $134.96.

Insider Activity

In related 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 sale, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total value of $223,403.72. Following the transaction, the director now directly owns 27,358 shares of the company’s stock, valued at $2,542,378.94. The trade was a 8.08 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $92.96 on Friday. 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 cap of $103.57 billion, a PE ratio of 26.79 and a beta of 1.23. The company’s fifty day moving average is $95.99 and its 200 day moving average is $98.36. Micron Technology, Inc. has a 52 week low of $83.54 and a 52 week high of $157.54.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 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 firm had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.71 billion. During the same quarter in the previous year, the business earned ($0.95) earnings per share. The company’s quarterly revenue was up 84.3% on a year-over-year basis. Research analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were given a $0.115 dividend. The ex-dividend date was Monday, December 30th. This represents a $0.46 annualized dividend and a yield of 0.49%. Micron Technology’s payout ratio is currently 13.26%.

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.