Traynor Capital Management Inc. Has $256,000 Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Traynor Capital Management Inc. decreased its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 26.8% during the 4th quarter, Holdings Channel reports. The firm owned 3,041 shares of the semiconductor manufacturer’s stock after selling 1,112 shares during the period. Traynor Capital Management Inc.’s holdings in Micron Technology were worth $256,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in MU. Highline Wealth Partners LLC acquired a new position in Micron Technology during the third quarter worth $26,000. Davis Capital Management acquired a new position in shares of Micron Technology during the 3rd quarter worth about $30,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Micron Technology in the 2nd quarter valued at about $39,000. Stone House Investment Management LLC lifted its stake in 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 during the last quarter. Finally, True Wealth Design LLC grew its holdings in 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 purchasing an additional 296 shares during the period. Institutional investors own 80.84% of the company’s stock.

Insider Activity at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the sale, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.30% of the stock is owned by insiders.

Micron Technology Stock Down 4.0 %

Shares of MU opened at $104.84 on Friday. The firm has a 50 day simple moving average of $98.11 and a two-hundred day simple moving average of $101.70. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. Micron Technology, Inc. has a one year low of $79.15 and a one year high of $157.54. The company has a market cap of $116.81 billion, a P/E ratio of 30.21 and a beta of 1.18.

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 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 during the quarter, compared to the consensus estimate of $8.71 billion. During the same period in the prior year, the company earned ($0.95) EPS. Micron Technology’s revenue for the quarter was up 84.3% on a year-over-year basis. Research analysts forecast that Micron Technology, Inc. will post 6.25 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s dividend payout ratio is 13.26%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MU. UBS Group cut their price objective on Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Needham & Company LLC cut 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. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 price objective on shares of Micron Technology in a report on Wednesday, December 18th. TD Cowen cut 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. Finally, The Goldman Sachs Group decreased their price target on shares of Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat, Micron Technology presently has a consensus rating of “Moderate Buy” and an average price target 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.