Cassaday & Co Wealth Management LLC Invests $357,000 in Micron Technology, Inc. (NASDAQ:MU)

Cassaday & Co Wealth Management LLC bought a new stake in Micron Technology, Inc. (NASDAQ:MU) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 4,238 shares of the semiconductor manufacturer’s stock, valued at approximately $357,000.

Other large investors have also recently made changes to their positions in the company. Legacy Capital Group California Inc. grew its position in Micron Technology by 227.2% during the 4th quarter. Legacy Capital Group California Inc. now owns 9,935 shares of the semiconductor manufacturer’s stock worth $836,000 after purchasing an additional 6,899 shares during the last quarter. Concurrent Investment Advisors LLC boosted its stake in shares of Micron Technology by 24.4% during the fourth quarter. Concurrent Investment Advisors LLC now owns 7,873 shares of the semiconductor manufacturer’s stock worth $663,000 after buying an additional 1,542 shares during the period. Handelsbanken Fonder AB grew its holdings in shares of Micron Technology by 18.5% during the fourth quarter. Handelsbanken Fonder AB now owns 514,872 shares of the semiconductor manufacturer’s stock worth $43,332,000 after buying an additional 80,276 shares during the last quarter. Sunpointe LLC increased its position in Micron Technology by 28.6% in the 4th quarter. Sunpointe LLC now owns 3,312 shares of the semiconductor manufacturer’s stock valued at $279,000 after acquiring an additional 736 shares during the period. Finally, Ieq Capital LLC raised its stake in Micron Technology by 5.2% during the 4th quarter. Ieq Capital LLC now owns 64,569 shares of the semiconductor manufacturer’s stock valued at $5,434,000 after acquiring an additional 3,179 shares during the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the sale, the executive vice president now owns 181,223 shares in the company, valued at $15,442,011.83. The trade was a 2.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

MU has been the topic of a number of recent research reports. TD Cowen dropped their target price on Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. JPMorgan Chase & Co. dropped their price objective 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. Wedbush restated an “outperform” rating and issued a $140.00 target price on shares of Micron Technology in a research note on Tuesday, December 17th. Wells Fargo & Company dropped 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 note on Thursday, December 19th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $250.00 price objective on shares of Micron Technology in a research report on Wednesday, December 18th. 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’s stock. According to data from MarketBeat, Micron Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.96.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $98.78 on Friday. 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 business’s fifty day moving average price is $96.28 and its two-hundred day moving average price is $98.76. The stock has a market cap of $110.06 billion, a PE ratio of 28.47 and a beta of 1.18. Micron Technology, Inc. has a one year low of $83.54 and a one year high of $157.54.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $8.71 billion. During the same quarter last year, the company earned ($0.95) earnings per share. The business’s revenue for the quarter was up 84.3% compared to the same quarter last year. On average, analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Monday, December 30th. Micron Technology’s dividend payout ratio is presently 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.