Modus Advisors LLC Has $27,000 Position in Micron Technology, Inc. (NASDAQ:MU)

Modus Advisors LLC cut its holdings in Micron Technology, Inc. (NASDAQ:MU) by 89.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 323 shares of the semiconductor manufacturer’s stock after selling 2,752 shares during the quarter. Modus Advisors LLC’s holdings in Micron Technology were worth $27,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MU. Financial Counselors Inc. bought a new stake in shares of Micron Technology during the second quarter valued at approximately $211,000. Foundations Investment Advisors LLC raised its position in shares of Micron Technology by 20.6% during the second quarter. Foundations Investment Advisors LLC now owns 6,615 shares of the semiconductor manufacturer’s stock worth $870,000 after acquiring an additional 1,131 shares during the last quarter. FineMark National Bank & Trust lifted its stake in shares of Micron Technology by 4.1% during the second quarter. FineMark National Bank & Trust now owns 3,696 shares of the semiconductor manufacturer’s stock valued at $486,000 after acquiring an additional 147 shares during the period. TD Asset Management Inc boosted its holdings in Micron Technology by 2.6% in the second quarter. TD Asset Management Inc now owns 550,866 shares of the semiconductor manufacturer’s stock valued at $72,455,000 after acquiring an additional 13,728 shares during the last quarter. Finally, Columbia Asset Management increased its position in Micron Technology by 26.2% in the second quarter. Columbia Asset Management now owns 4,992 shares of the semiconductor manufacturer’s stock worth $657,000 after purchasing an additional 1,037 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Up 2.9 %

Micron Technology stock opened at $89.87 on Friday. The company has a fifty day simple moving average of $99.42 and a 200 day simple moving average of $105.69. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a 1-year low of $79.15 and a 1-year high of $157.54. The company has a market cap of $100.13 billion, a P/E ratio of 132.16 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The business had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.71 billion. During the same quarter in the previous year, the business earned ($0.95) earnings per share. Micron Technology’s quarterly revenue was up 84.3% on a year-over-year basis. Research analysts anticipate that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 30th will be paid a $0.115 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $0.46 annualized dividend and a dividend yield of 0.51%. Micron Technology’s dividend payout ratio is presently 13.26%.

Analyst Ratings Changes

MU has been the topic of a number of research reports. Citigroup cut their target price on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. The Goldman Sachs Group reduced their price objective 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. Morgan Stanley dropped their target price on shares of Micron Technology from $114.00 to $98.00 and set an “equal weight” rating for the company in a research report on Thursday, December 19th. Susquehanna reduced their price target on Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a research report on Thursday, September 26th. Finally, Bank of America downgraded Micron Technology from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $125.00 to $110.00 in a 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $135.24.

Insider Buying and Selling

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 transaction, the executive vice president now owns 181,223 shares of the company’s stock, valued at $15,442,011.83. The trade was a 2.63 % 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. 0.30% of the stock is owned by corporate insiders.

Micron Technology Company 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.