Wedmont Private Capital Purchases 482 Shares of Micron Technology, Inc. (NASDAQ:MU)

Wedmont Private Capital grew its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 3.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,369 shares of the semiconductor manufacturer’s stock after buying an additional 482 shares during the period. Wedmont Private Capital’s holdings in Micron Technology were worth $1,125,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MU. Highline Wealth Partners LLC purchased a new stake in shares of Micron Technology in the third quarter worth $26,000. Davis Capital Management purchased a new position in shares of Micron Technology in the 3rd quarter worth about $30,000. Strategic Investment Solutions Inc. IL bought a new position in Micron Technology in the 2nd quarter worth about $39,000. Cranbrook Wealth Management LLC purchased a new stake in Micron Technology during the 2nd quarter valued at about $42,000. Finally, Stone House Investment Management LLC increased its stake 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 in the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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 transaction of $416,676.90. Following the completion of the transaction, the executive vice president now directly 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 legal filing with the SEC, which is accessible through this link. 0.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on MU shares. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 target price on shares of Micron Technology in a research note on Wednesday, December 18th. Sanford C. Bernstein lowered their price objective on Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. The Goldman Sachs Group reduced their target price on Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a report on Thursday, December 19th. TD Cowen lowered their price target on Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Finally, Bank of America cut Micron Technology from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $125.00 to $110.00 in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat.com, Micron Technology has an average rating of “Moderate Buy” and an average target price of $135.24.

Micron Technology Stock Performance

NASDAQ:MU opened at $95.06 on Tuesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. The stock has a 50-day simple moving average of $98.55 and a two-hundred day simple moving average of $102.89. The firm has a market capitalization of $105.90 billion, a PE ratio of 139.80 and a beta of 1.16. Micron Technology, Inc. has a 52-week low of $79.15 and a 52-week high of $157.54.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The company had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. During the same period in the previous year, the company posted ($0.95) EPS. The firm’s revenue was up 84.3% on a year-over-year basis. Analysts forecast that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 30th will be issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.48%. The ex-dividend date is Monday, December 30th. Micron Technology’s dividend payout ratio is currently 67.65%.

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.