Capital Investment Advisors LLC Boosts Position in Micron Technology, Inc. (NASDAQ:MU)

Capital Investment Advisors LLC grew its stake in Micron Technology, Inc. (NASDAQ:MU) by 7.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 6,317 shares of the semiconductor manufacturer’s stock after buying an additional 439 shares during the period. Capital Investment Advisors LLC’s holdings in Micron Technology were worth $532,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Brookstone Capital Management increased its position in Micron Technology by 8.8% in the fourth quarter. Brookstone Capital Management now owns 11,921 shares of the semiconductor manufacturer’s stock worth $1,003,000 after buying an additional 961 shares in the last quarter. City State Bank boosted its stake in Micron Technology by 56.2% during the fourth quarter. City State Bank now owns 16,620 shares of the semiconductor manufacturer’s stock valued at $1,399,000 after buying an additional 5,980 shares during the last quarter. Czech National Bank boosted its stake in Micron Technology by 6.4% during the fourth quarter. Czech National Bank now owns 240,423 shares of the semiconductor manufacturer’s stock valued at $20,234,000 after buying an additional 14,499 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Micron Technology by 81.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 577,737 shares of the semiconductor manufacturer’s stock valued at $48,622,000 after buying an additional 259,627 shares during the last quarter. Finally, CWA Asset Management Group LLC lifted its stake in shares of Micron Technology by 3.7% in the 4th quarter. CWA Asset Management Group LLC now owns 48,012 shares of the semiconductor manufacturer’s stock valued at $4,041,000 after purchasing an additional 1,717 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the completion of the sale, the executive vice president now directly owns 181,223 shares in the company, valued at approximately $15,442,011.83. The trade was a 2.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.30% of the stock is owned by company insiders.

Micron Technology Stock Performance

Shares of MU stock opened at $103.19 on Thursday. The stock has a market cap of $114.97 billion, a PE ratio of 151.75 and a beta of 1.18. The business has a 50-day simple moving average of $98.39 and a 200-day simple moving average of $102.65. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. 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 results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.19. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The firm had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.71 billion. During the same quarter in the previous year, the business earned ($0.95) EPS. Micron Technology’s revenue for the quarter was up 84.3% compared to the same quarter last year. On average, equities analysts expect that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors 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 annualized dividend and a dividend yield of 0.45%. Micron Technology’s dividend payout ratio is presently 13.26%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Cantor Fitzgerald reduced their price target on Micron Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Barclays cut their price target on Micron Technology from $145.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday, December 20th. Morgan Stanley cut their price target on Micron Technology from $114.00 to $98.00 and set an “equal weight” rating on the stock in a report on Thursday, December 19th. Piper Sandler lowered their price objective 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. Finally, The Goldman Sachs Group lowered their price objective on Micron Technology from $145.00 to $128.00 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 issued a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $135.24.

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.