Appleton Partners Inc. MA Reduces Holdings in Micron Technology, Inc. (NASDAQ:MU)

Appleton Partners Inc. MA decreased its holdings in Micron Technology, Inc. (NASDAQ:MU) by 1.8% in the fourth quarter, Holdings Channel reports. The fund owned 153,513 shares of the semiconductor manufacturer’s stock after selling 2,843 shares during the period. Appleton Partners Inc. MA’s holdings in Micron Technology were worth $12,920,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC purchased a new position in Micron Technology during the fourth quarter worth about $166,000. Prairie Wealth Advisors Inc. boosted its position in shares of Micron Technology by 5.6% during the fourth quarter. Prairie Wealth Advisors Inc. now owns 2,472 shares of the semiconductor manufacturer’s stock worth $208,000 after buying an additional 130 shares during the period. Ameliora Wealth Management Ltd. boosted its holdings in Micron Technology by 41.0% during the 4th quarter. Ameliora Wealth Management Ltd. now owns 2,011 shares of the semiconductor manufacturer’s stock valued at $169,000 after acquiring an additional 585 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Micron Technology by 5.5% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 133,326 shares of the semiconductor manufacturer’s stock valued at $11,221,000 after purchasing an additional 7,004 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in Micron Technology by 1.7% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,348,661 shares of the semiconductor manufacturer’s stock worth $365,983,000 after buying an additional 72,416 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Down 2.4 %

Micron Technology stock opened at $92.30 on Friday. The stock has a 50 day moving average of $96.75 and a two-hundred day moving average of $99.31. Micron Technology, Inc. has a twelve month low of $79.15 and a twelve month high of $157.54. The stock has a market capitalization of $102.84 billion, a price-to-earnings ratio of 26.60 and a beta of 1.18. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.19. The firm had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company’s revenue for the quarter was up 84.3% on a year-over-year basis. During the same period last year, the company earned ($0.95) earnings per share. As a group, research analysts expect that Micron Technology, Inc. will post 6.29 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were paid a dividend of $0.115 per share. The ex-dividend date was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.50%. Micron Technology’s dividend payout ratio (DPR) is 13.26%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on MU shares. Bank of America cut shares of Micron Technology from a “buy” rating to a “neutral” rating and decreased their price target for the company from $125.00 to $110.00 in a research report on Thursday, December 19th. Piper Sandler lowered their target price on Micron Technology from $150.00 to $120.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Wells Fargo & Company reduced their price target on Micron Technology from $175.00 to $140.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Rosenblatt Securities reissued a “buy” rating and set a $250.00 price objective on shares of Micron Technology in a research report on Wednesday, December 18th. Finally, TD Cowen lowered their price target on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, December 19th. One 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 stock. According to MarketBeat, Micron Technology presently has an average rating of “Moderate Buy” and an average target price of $134.96.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated 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 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.30% of the stock is currently owned by corporate insiders.

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.