Everhart Financial Group Inc. Purchases 307 Shares of Micron Technology, Inc. (NASDAQ:MU)

Everhart Financial Group Inc. boosted its position in Micron Technology, Inc. (NASDAQ:MU) by 6.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 5,356 shares of the semiconductor manufacturer’s stock after purchasing an additional 307 shares during the period. Everhart Financial Group Inc.’s holdings in Micron Technology were worth $451,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. State Street Corp grew its position in Micron Technology by 3.1% in the 3rd quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock worth $5,001,592,000 after purchasing an additional 1,434,568 shares in the last quarter. Primecap Management Co. CA grew its position in Micron Technology by 0.6% in the 3rd quarter. Primecap Management Co. CA now owns 37,631,860 shares of the semiconductor manufacturer’s stock worth $3,902,800,000 after purchasing an additional 206,499 shares in the last quarter. Geode Capital Management LLC grew its position in Micron Technology by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 23,723,545 shares of the semiconductor manufacturer’s stock worth $2,451,987,000 after purchasing an additional 892,607 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Micron Technology by 21.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock worth $1,174,643,000 after purchasing an additional 2,022,180 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in Micron Technology by 30.6% in the 3rd quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock worth $1,109,769,000 after purchasing an additional 2,477,985 shares in the last quarter. 80.84% of the stock is owned by institutional investors.

Micron Technology Stock Performance

NASDAQ MU opened at $99.52 on Monday. The company’s 50 day simple moving average is $96.10 and its two-hundred day simple moving average is $98.62. The stock has a market capitalization of $110.88 billion, a PE ratio of 28.68 and a beta of 1.18. Micron Technology, Inc. has a 1 year low of $79.15 and a 1 year high of $157.54. 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 (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. The firm had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business’s revenue for the quarter was up 84.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.95) EPS. Analysts predict that Micron Technology, Inc. will post 6.29 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

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

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. dropped their target price on shares of Micron Technology from $180.00 to $145.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Wells Fargo & Company dropped their target price on shares of Micron Technology from $175.00 to $140.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Needham & Company LLC dropped their target price on shares of Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Wedbush reiterated an “outperform” rating and issued a $140.00 target price on shares of Micron Technology in a research note on Tuesday, December 17th. Finally, Robert W. Baird dropped their target price on shares of Micron Technology from $150.00 to $130.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.96.

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.