Moss Adams Wealth Advisors LLC Has $269,000 Position in Micron Technology, Inc. (NASDAQ:MU)

Moss Adams Wealth Advisors LLC raised its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 47.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,196 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,033 shares during the quarter. Moss Adams Wealth Advisors LLC’s holdings in Micron Technology were worth $269,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in MU. Highline Wealth Partners LLC purchased a new position in shares of Micron Technology during the third quarter valued at approximately $26,000. Davis Capital Management purchased a new stake in Micron Technology in the 3rd quarter valued at $30,000. Strategic Investment Solutions Inc. IL bought a new position in Micron Technology during the 2nd quarter valued at $39,000. Stone House Investment Management LLC boosted its holdings in Micron Technology by 602.2% during the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 277 shares during the last quarter. Finally, True Wealth Design LLC grew its stake in shares of Micron Technology by 1,096.3% in the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after acquiring an additional 296 shares in the last quarter. 80.84% of the stock is owned by institutional investors.

Insider Buying and Selling at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the company’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 sale, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. The Goldman Sachs Group cut their target price on Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Stifel Nicolaus cut their price objective on Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Morgan Stanley decreased their target price on Micron Technology from $114.00 to $98.00 and set an “equal weight” rating for the company in a research report on Thursday, December 19th. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price target on shares of Micron Technology in a report on Wednesday, December 18th. Finally, Mizuho decreased their price objective on shares of Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a report 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 company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $135.24.

Micron Technology Stock Up 3.1 %

Shares of NASDAQ:MU opened at $105.75 on Friday. The stock has a market capitalization of $117.82 billion, a P/E ratio of 30.48 and a beta of 1.18. The stock’s 50-day moving average price is $97.87 and its 200-day moving average price is $102.48. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 12-month low of $79.15 and a 12-month high of $157.54.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.71 billion. During the same quarter last year, the business earned ($0.95) earnings per share. The business’s revenue was up 84.3% on a year-over-year basis. On average, equities analysts anticipate that Micron Technology, Inc. will post 6.25 earnings per share for the current year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s dividend payout ratio (DPR) 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.