4,812 Shares in Micron Technology, Inc. (NASDAQ:MU) Bought by Pines Wealth Management LLC

Pines Wealth Management LLC purchased a new stake in shares of Micron Technology, Inc. (NASDAQ:MU) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 4,812 shares of the semiconductor manufacturer’s stock, valued at approximately $405,000.

Several other institutional investors have also recently bought and sold shares of MU. Quest Partners LLC lifted its holdings in shares of Micron Technology by 7,328.6% in the second quarter. Quest Partners LLC now owns 520 shares of the semiconductor manufacturer’s stock valued at $68,000 after purchasing an additional 513 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in Micron Technology by 33.0% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 19,816 shares of the semiconductor manufacturer’s stock valued at $2,606,000 after buying an additional 4,914 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Micron Technology by 144.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 978,193 shares of the semiconductor manufacturer’s stock valued at $128,662,000 after acquiring an additional 578,132 shares in the last quarter. Mesirow Financial Investment Management Inc. boosted its holdings in Micron Technology by 81.1% during the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 5,747 shares of the semiconductor manufacturer’s stock worth $756,000 after acquiring an additional 2,574 shares during the last quarter. Finally, Citizens Financial Group Inc. RI grew its stake in shares of Micron Technology by 81.2% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 7,972 shares of the semiconductor manufacturer’s stock worth $1,049,000 after acquiring an additional 3,573 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $103.19 on Thursday. The company has a 50 day moving average of $98.39 and a 200 day moving average of $102.65. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. The stock has a market cap of $114.97 billion, a P/E ratio of 151.75 and a beta of 1.18. Micron Technology, Inc. has a 12 month low of $79.15 and a 12 month high of $157.54.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The firm had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.71 billion. During the same period in the previous year, the business earned ($0.95) EPS. The business’s revenue for the quarter was up 84.3% on a year-over-year basis. As a group, sell-side analysts forecast that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s dividend payout ratio is currently 13.26%.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 4,890 shares of the company’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 completion of the transaction, the executive vice president now directly owns 181,223 shares in the company, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Wedbush reissued an “outperform” rating and set a $140.00 price target on shares of Micron Technology in a research report on Tuesday, December 17th. UBS Group cut their target price on Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Susquehanna decreased their price target on Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a research report on Thursday, September 26th. Robert W. Baird dropped their price target on Micron Technology from $150.00 to $130.00 and set an “outperform” rating on the stock in a report on Thursday, December 19th. Finally, Raymond James upped their price objective on Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $135.24.

About Micron Technology

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.