Montag A & Associates Inc. Has $3.21 Million Position in Micron Technology, Inc. (NASDAQ:MU)

Montag A & Associates Inc. reduced its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 62.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 38,121 shares of the semiconductor manufacturer’s stock after selling 64,574 shares during the period. Montag A & Associates Inc.’s holdings in Micron Technology were worth $3,213,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC bought a new position in shares of Micron Technology during the third quarter valued at $26,000. Stone House Investment Management LLC lifted 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 valued at $34,000 after purchasing an additional 277 shares during the last quarter. True Wealth Design LLC boosted its position in Micron Technology by 1,096.3% in the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after buying an additional 296 shares in the last quarter. DT Investment Partners LLC grew its stake in Micron Technology by 261.1% during the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 235 shares during the last quarter. Finally, Darwin Wealth Management LLC acquired a new stake in shares of Micron Technology during the third quarter worth approximately $39,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Activity

In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were 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 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 this hyperlink. Corporate insiders own 0.30% of the company’s stock.

Micron Technology Stock Up 4.0 %

Shares of NASDAQ MU opened at $99.52 on Monday. The firm has a 50 day moving average price of $96.10 and a 200 day moving average price of $98.62. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The stock has a market cap of $110.88 billion, a P/E ratio of 28.68 and a beta of 1.18. Micron Technology, Inc. has a 52-week low of $79.15 and a 52-week high of $157.54.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, topping 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 business had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.71 billion. During the same quarter last year, the business posted ($0.95) EPS. The firm’s revenue was up 84.3% compared to the same quarter last year. Analysts expect that Micron Technology, Inc. will post 6.29 EPS for the current 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 paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s dividend payout ratio is 13.26%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MU shares. Wedbush reaffirmed an “outperform” rating and set a $140.00 price target on shares of Micron Technology in a report on Tuesday, December 17th. China Renaissance began coverage on Micron Technology in a research note on Monday, October 28th. They issued a “buy” rating and a $148.00 target price for the company. Wells Fargo & Company reduced their price target on shares of Micron Technology from $175.00 to $140.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Robert W. Baird lowered their price objective on shares of Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. Finally, Stifel Nicolaus reduced their target price on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. One 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’s stock. According to data from MarketBeat, Micron Technology has a consensus rating of “Moderate Buy” and a consensus target price of $134.96.

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.