Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Lbmc Investment Advisors LLC

Lbmc Investment Advisors LLC decreased its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 22.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 6,790 shares of the semiconductor manufacturer’s stock after selling 1,986 shares during the quarter. Lbmc Investment Advisors LLC’s holdings in Micron Technology were worth $571,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Highline Wealth Partners LLC purchased a new position in shares of Micron Technology in the 3rd quarter worth about $26,000. Davis Capital Management purchased a new position in Micron Technology in the third quarter valued at approximately $30,000. True Wealth Design LLC lifted its position in Micron Technology by 1,096.3% during the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after buying an additional 296 shares in the last quarter. DT Investment Partners LLC grew its stake in Micron Technology by 261.1% during the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 235 shares during the period. Finally, Stone House Investment Management LLC increased its position in shares of Micron Technology by 602.2% in the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 277 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Activity

In related 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 sale, the executive vice president now owns 181,223 shares of the company’s stock, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.30% of the company’s stock.

Micron Technology Stock Performance

MU stock opened at $105.75 on Friday. The stock’s 50 day simple moving average is $97.87 and its 200 day simple moving average is $102.48. Micron Technology, Inc. has a 12-month low of $79.15 and a 12-month high of $157.54. The firm has a market cap of $117.82 billion, a P/E ratio of 30.48 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 earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.71 billion. During the same period in the prior year, the company earned ($0.95) earnings per share. The firm’s revenue was up 84.3% compared to the same quarter last year. As a group, equities research analysts predict that Micron Technology, Inc. will post 6.25 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were paid a $0.115 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a yield of 0.43%. Micron Technology’s payout ratio is currently 13.26%.

Analysts Set New Price Targets

MU has been the topic of several recent research reports. Morgan Stanley reduced their target price on shares of Micron Technology from $114.00 to $98.00 and set an “equal weight” rating on the stock in a report on Thursday, December 19th. Wedbush reaffirmed an “outperform” rating and issued a $140.00 target price on shares of Micron Technology in a research report on Tuesday, December 17th. Mizuho lowered their target price on Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday, December 19th. Needham & Company LLC reduced their price target on Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Finally, TD Cowen lowered their price objective on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company 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 given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $135.24.

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.