7,781 Shares in Micron Technology, Inc. (NASDAQ:MU) Acquired by United Asset Strategies Inc.

United Asset Strategies Inc. acquired a new stake in shares of Micron Technology, Inc. (NASDAQ:MU) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 7,781 shares of the semiconductor manufacturer’s stock, valued at approximately $655,000.

Several other large investors have also recently added to or reduced their stakes in MU. KBC Group NV raised its stake in shares of Micron Technology by 13.2% during the 4th quarter. KBC Group NV now owns 400,467 shares of the semiconductor manufacturer’s stock worth $33,704,000 after purchasing an additional 46,594 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in Micron Technology in the fourth quarter worth approximately $846,000. Blue Trust Inc. raised its position in Micron Technology by 25.8% during the fourth quarter. Blue Trust Inc. now owns 17,810 shares of the semiconductor manufacturer’s stock valued at $1,499,000 after acquiring an additional 3,656 shares in the last quarter. Register Financial Advisors LLC lifted its stake in Micron Technology by 1.1% in the fourth quarter. Register Financial Advisors LLC now owns 11,526 shares of the semiconductor manufacturer’s stock valued at $970,000 after acquiring an additional 121 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in Micron Technology by 18.8% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 5,075 shares of the semiconductor manufacturer’s stock worth $427,000 after acquiring an additional 802 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Trading Down 11.7 %

MU stock opened at $91.09 on Tuesday. Micron Technology, Inc. has a 1-year low of $79.15 and a 1-year high of $157.54. 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 business’s 50 day moving average is $98.36 and its 200-day moving average is $101.08. The firm has a market cap of $101.48 billion, a P/E ratio of 26.25 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share 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 firm had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.71 billion. During the same period in the prior year, the business posted ($0.95) earnings per share. The business’s revenue was up 84.3% compared to the same quarter last year. Equities analysts anticipate that Micron Technology, Inc. will post 6.29 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 0.51%. Micron Technology’s dividend payout ratio (DPR) is presently 13.26%.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 181,223 shares in the company, 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 filing with the SEC, which is available through this link. Insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on MU. Wedbush reaffirmed an “outperform” rating and issued a $140.00 price objective on shares of Micron Technology in a research note on Tuesday, December 17th. Robert W. Baird reduced their price target on Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. Rosenblatt Securities reissued a “buy” rating and set a $250.00 price objective on shares of Micron Technology in a report on Wednesday, December 18th. TD Cowen reduced their target price on Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Finally, Sanford C. Bernstein lowered their price target on Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. One investment 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 company. According to data from MarketBeat, Micron Technology has an average rating of “Moderate Buy” and a consensus 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.