New World Advisors LLC Buys 250 Shares of Micron Technology, Inc. (NASDAQ:MU)

New World Advisors LLC raised its stake in Micron Technology, Inc. (NASDAQ:MU) by 6.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,425 shares of the semiconductor manufacturer’s stock after purchasing an additional 250 shares during the period. New World Advisors LLC’s holdings in Micron Technology were worth $372,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MU. Swedbank AB increased its stake in Micron Technology by 30.4% in 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. Hennion & Walsh Asset Management Inc. increased its position in shares of Micron Technology by 65.2% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 5,450 shares of the semiconductor manufacturer’s stock worth $565,000 after acquiring an additional 2,151 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Micron Technology by 14.7% in the 3rd quarter. Allworth Financial LP now owns 6,784 shares of the semiconductor manufacturer’s stock worth $704,000 after acquiring an additional 872 shares during the last quarter. NorthCrest Asset Manangement LLC acquired a new stake in shares of Micron Technology in the 3rd quarter worth about $3,706,000. Finally, Arkadios Wealth Advisors raised its holdings in shares of Micron Technology by 44.1% in the 3rd quarter. Arkadios Wealth Advisors now owns 8,282 shares of the semiconductor manufacturer’s stock worth $859,000 after acquiring an additional 2,536 shares during the last quarter. 80.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MU shares. Rosenblatt Securities restated a “buy” rating and issued a $250.00 target price on shares of Micron Technology in a report on Wednesday, December 18th. 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 report on Wednesday, December 18th. TD Cowen lowered their target price on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. The Goldman Sachs Group lowered their target price on shares of Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Finally, Needham & Company LLC lowered their target price on shares of Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.96.

Insider Activity

In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology 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 transaction, the executive vice president now owns 181,223 shares in the company, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.30% of the company’s stock.

Micron Technology Stock Down 4.3 %

Shares of NASDAQ:MU opened at $98.78 on Monday. The firm has a fifty day moving average price of $96.28 and a two-hundred day moving average price of $98.91. 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, Inc. has a one year low of $83.54 and a one year high of $157.54. The company has a market cap of $110.06 billion, a price-to-earnings ratio of 28.47 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data 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. The firm had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business’s quarterly revenue was up 84.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.95) EPS. Analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

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