Midwest Capital Advisors LLC Acquires Shares of 389 Micron Technology, Inc. (NASDAQ:MU)

Midwest Capital Advisors LLC acquired a new stake in Micron Technology, Inc. (NASDAQ:MU) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 389 shares of the semiconductor manufacturer’s stock, valued at approximately $33,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MU. Y Intercept Hong Kong Ltd acquired a new stake in shares of Micron Technology during the fourth quarter worth $2,081,000. Union Bancaire Privee UBP SA acquired a new position in shares of Micron Technology during the fourth quarter worth about $846,000. Spectrum Financial Alliance Ltd LLC increased its stake in shares of Micron Technology by 178.1% during the fourth quarter. Spectrum Financial Alliance Ltd LLC now owns 187,856 shares of the semiconductor manufacturer’s stock worth $15,810,000 after acquiring an additional 120,300 shares during the period. Howard Capital Management Inc. increased its stake in shares of Micron Technology by 3.1% during the fourth quarter. Howard Capital Management Inc. now owns 30,721 shares of the semiconductor manufacturer’s stock worth $2,585,000 after acquiring an additional 919 shares during the period. Finally, Wealthspire Advisors LLC increased its stake in shares of Micron Technology by 88.0% during the fourth quarter. Wealthspire Advisors LLC now owns 5,669 shares of the semiconductor manufacturer’s stock worth $477,000 after acquiring an additional 2,654 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction that occurred 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 owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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. Micron Technology, Inc. has a 12-month low of $83.54 and a 12-month high of $157.54. The company has a market capitalization of $110.06 billion, a PE ratio of 28.47 and a beta of 1.18. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The firm’s 50-day moving average is $96.28 and its two-hundred day moving average is $98.91.

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 the consensus estimate of $1.60 by $0.19. The business had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company’s quarterly revenue was up 84.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.95) earnings per share. Equities analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were paid 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 of this dividend was Monday, December 30th. Micron Technology’s payout ratio is 13.26%.

Analysts Set New Price Targets

MU has been the topic of a number of recent analyst reports. Mizuho dropped their price target on shares of Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. Bank of America lowered shares of Micron Technology from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $125.00 to $110.00 in a research note on Thursday, December 19th. The Goldman Sachs Group dropped their price target on shares of Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Stifel Nicolaus dropped their price target on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Finally, 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 research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat, Micron Technology has an average rating of “Moderate Buy” and an average target price of $134.96.

Micron Technology 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.