Micron Technology, Inc. (NASDAQ:MU) Shares Bought by Midwest Financial Group LLC

Midwest Financial Group LLC increased its holdings in Micron Technology, Inc. (NASDAQ:MU) by 6.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 21,480 shares of the semiconductor manufacturer’s stock after buying an additional 1,330 shares during the period. Micron Technology comprises approximately 1.0% of Midwest Financial Group LLC’s holdings, making the stock its 27th biggest position. Midwest Financial Group LLC’s holdings in Micron Technology were worth $1,808,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Cornerstone Wealth Management LLC boosted its holdings in shares of Micron Technology by 6.7% during the fourth quarter. Cornerstone Wealth Management LLC now owns 4,585 shares of the semiconductor manufacturer’s stock valued at $386,000 after acquiring an additional 289 shares during the period. Brighton Jones LLC lifted its position in Micron Technology by 18.3% in the 4th quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer’s stock valued at $532,000 after purchasing an additional 976 shares during the last quarter. Sustainable Insight Capital Management LLC boosted its stake in Micron Technology by 91.5% during the 4th quarter. Sustainable Insight Capital Management LLC now owns 4,214 shares of the semiconductor manufacturer’s stock valued at $355,000 after purchasing an additional 2,014 shares during the period. Avior Wealth Management LLC grew its position in Micron Technology by 7.0% in the 4th quarter. Avior Wealth Management LLC now owns 32,904 shares of the semiconductor manufacturer’s stock worth $2,769,000 after purchasing an additional 2,141 shares during the last quarter. Finally, Beacon Investment Advisory Services Inc. increased its stake in shares of Micron Technology by 33.9% in the fourth quarter. Beacon Investment Advisory Services Inc. now owns 6,291 shares of the semiconductor manufacturer’s stock valued at $529,000 after purchasing an additional 1,591 shares during the period. Institutional investors own 80.84% of the company’s stock.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction on Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the completion of the sale, the executive vice president now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.30% of the stock is currently owned by insiders.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $103.87 on Friday. The company has a market cap of $115.73 billion, a P/E ratio of 30.06 and a beta of 1.18. The company’s fifty day moving average is $98.11 and its two-hundred day moving average is $101.70. The company has a quick ratio of 1.75, a current ratio of 2.72 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 posted its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating 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 firm had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. During the same period in the previous year, the firm earned ($0.95) earnings per share. Micron Technology’s quarterly revenue was up 84.3% on a year-over-year basis. Equities analysts expect that Micron Technology, Inc. will post 6.29 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

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 dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s dividend payout ratio is currently 13.26%.

Analysts Set New Price Targets

Several research firms recently commented on MU. KeyCorp lowered their target price on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 8th. TD Cowen cut their price objective on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Sanford C. Bernstein lowered their target price on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 18th. Cantor Fitzgerald dropped their price target on shares of Micron Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Finally, Wells Fargo & Company decreased their price objective on shares of Micron Technology from $175.00 to $140.00 and set an “overweight” 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 issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price 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.