Congress Wealth Management LLC DE Sells 3,094 Shares of Micron Technology, Inc. (NASDAQ:MU)

Congress Wealth Management LLC DE trimmed its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 15.3% in the 4th quarter, Holdings Channel reports. The firm owned 17,179 shares of the semiconductor manufacturer’s stock after selling 3,094 shares during the period. Congress Wealth Management LLC DE’s holdings in Micron Technology were worth $1,446,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Harmony Asset Management LLC boosted its position in Micron Technology by 75.6% in the third quarter. Harmony Asset Management LLC now owns 11,889 shares of the semiconductor manufacturer’s stock worth $1,233,000 after purchasing an additional 5,120 shares during the last quarter. E Fund Management Co. Ltd. grew its position in Micron Technology by 31.8% during the fourth quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer’s stock valued at $3,062,000 after buying an additional 8,780 shares during the period. Stablepoint Partners LLC bought a new stake in Micron Technology during the fourth quarter valued at approximately $569,000. State Street Corp increased its holdings in Micron Technology by 3.1% during the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock valued at $5,001,592,000 after buying an additional 1,434,568 shares during the last quarter. Finally, Main Management ETF Advisors LLC bought a new position in Micron Technology in the third quarter worth approximately $2,414,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Price Performance

Shares of Micron Technology stock opened at $91.16 on Friday. 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, Inc. has a 12 month low of $83.54 and a 12 month high of $157.54. The stock has a 50 day moving average of $96.35 and a 200 day moving average of $98.36. The firm has a market cap of $101.88 billion, a PE ratio of 26.27 and a beta of 1.23.

Micron Technology (NASDAQ:MU) last posted its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. The firm had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company’s quarterly revenue was up 38.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.42 EPS. On average, research analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend is Monday, March 31st. Micron Technology’s dividend payout ratio is 11.03%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MU. Needham & Company LLC reduced their price objective on Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Piper Sandler reduced their price target on Micron Technology from $150.00 to $120.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Mizuho lowered their price objective on Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, December 19th. Sanford C. Bernstein reduced their target price on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. Finally, UBS Group lifted their price target on shares of Micron Technology from $125.00 to $130.00 and gave the company a “buy” rating in a report on Monday, March 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $129.96.

Insider Activity at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the completion of the sale, the director now directly owns 27,358 shares in the company, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the business’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the transaction, the executive vice president now owns 164,769 shares in the company, valued at $15,847,482.42. This trade represents a 8.34 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by 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.