Bouchey Financial Group Ltd Has $579,000 Holdings in Micron Technology, Inc. (NASDAQ:MU)

Bouchey Financial Group Ltd cut its holdings in Micron Technology, Inc. (NASDAQ:MU) by 17.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,876 shares of the semiconductor manufacturer’s stock after selling 1,437 shares during the quarter. Bouchey Financial Group Ltd’s holdings in Micron Technology were worth $579,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Swedbank AB boosted its stake in shares of Micron Technology by 30.4% during the third quarter. Swedbank AB now owns 3,455,819 shares of the semiconductor manufacturer’s stock valued at $358,403,000 after purchasing an additional 806,639 shares in the last quarter. Highline Wealth Partners LLC acquired a new stake in shares of Micron Technology during the third quarter valued at about $26,000. Financial Advocates Investment Management lifted its stake in shares of Micron Technology by 2.6% in the third quarter. Financial Advocates Investment Management now owns 5,663 shares of the semiconductor manufacturer’s stock worth $587,000 after acquiring an additional 143 shares during the period. Voisard Asset Management Group Inc. acquired a new position in shares of Micron Technology in the third quarter worth approximately $260,000. Finally, Goldstone Financial Group LLC acquired a new position in shares of Micron Technology in the third quarter worth approximately $231,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Trading Down 6.0 %

NASDAQ MU opened at $91.82 on Friday. The business has a 50 day moving average price of $95.68 and a 200-day moving average price of $98.87. Micron Technology, Inc. has a 52 week low of $83.54 and a 52 week high of $157.54. The company has a market cap of $102.30 billion, a price-to-earnings ratio of 26.46 and a beta of 1.18. 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 (NASDAQ:MU) last announced its quarterly 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 return on equity of 8.32% and a net margin of 13.34%. The business had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. During the same quarter in the prior year, the company posted ($0.95) earnings per share. Micron Technology’s revenue was up 84.3% compared to the same quarter last year. As a group, equities analysts expect that Micron Technology, Inc. will post 6.08 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. The ex-dividend date was Monday, December 30th. This represents a $0.46 annualized dividend and a yield of 0.50%. Micron Technology’s dividend payout ratio (DPR) is currently 13.26%.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’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 transaction, the executive vice president now owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. The trade was 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 link. 0.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on MU. Needham & Company LLC cut their price objective on Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. TD Cowen cut their price objective 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. JPMorgan Chase & Co. cut their price objective on Micron Technology from $180.00 to $145.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Bank of America lowered Micron Technology from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $125.00 to $110.00 in a research note on Thursday, December 19th. Finally, Sanford C. Bernstein cut their price objective on Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.