Sierra Summit Advisors LLC Has $301,000 Holdings in Micron Technology, Inc. (NASDAQ:MU)

Sierra Summit Advisors LLC lessened its holdings in Micron Technology, Inc. (NASDAQ:MU) by 7.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,578 shares of the semiconductor manufacturer’s stock after selling 304 shares during the quarter. Sierra Summit Advisors LLC’s holdings in Micron Technology were worth $301,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of MU. Beacon Capital Management LLC increased its holdings in Micron Technology by 114.9% in the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after purchasing an additional 200 shares during the last quarter. Midwest Capital Advisors LLC bought a new stake in shares of Micron Technology in the 4th quarter valued at about $33,000. Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Micron Technology in the 4th quarter valued at approximately $34,000. Curio Wealth LLC bought a new position in Micron Technology during the 4th quarter worth approximately $34,000. Finally, Activest Wealth Management grew its holdings in Micron Technology by 583.3% during the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 350 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Price Performance

Shares of MU opened at $68.37 on Tuesday. 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 company’s fifty day simple moving average is $92.96 and its 200 day simple moving average is $98.09. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $157.54. The company has a market cap of $76.41 billion, a price-to-earnings ratio of 19.70 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last issued its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company had revenue of $8.05 billion for the quarter, compared to analysts’ expectations of $7.93 billion. During the same period in the prior year, the firm earned $0.42 EPS. Micron Technology’s quarterly revenue was up 38.2% compared to the same quarter last year. On average, research analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend is Monday, March 31st. Micron Technology’s payout ratio is presently 11.03%.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the completion of the sale, the executive vice president now directly owns 164,769 shares of the company’s stock, valued at approximately $15,847,482.42. This trade represents a 8.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 27,358 shares in the company, valued at approximately $2,542,378.94. This represents a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on MU shares. Bank of America cut shares of Micron Technology from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $125.00 to $110.00 in a research report on Thursday, December 19th. The Goldman Sachs Group reduced their target price on Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Needham & Company LLC lowered their price target on Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Royal Bank of Canada set a $125.00 price target on Micron Technology in a research report on Wednesday, March 19th. Finally, Piper Sandler lowered their target price on Micron Technology from $150.00 to $120.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $129.76.

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.