Hardy Reed LLC Sells 594 Shares of Micron Technology, Inc. (NASDAQ:MU)

Hardy Reed LLC decreased its stake in Micron Technology, Inc. (NASDAQ:MU) by 7.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 7,539 shares of the semiconductor manufacturer’s stock after selling 594 shares during the period. Hardy Reed LLC’s holdings in Micron Technology were worth $634,000 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. Handelsbanken Fonder AB grew its position in shares of Micron Technology by 18.5% during the fourth quarter. Handelsbanken Fonder AB now owns 514,872 shares of the semiconductor manufacturer’s stock worth $43,332,000 after purchasing an additional 80,276 shares in the last quarter. Sunpointe LLC grew its position in shares of Micron Technology by 28.6% during the fourth quarter. Sunpointe LLC now owns 3,312 shares of the semiconductor manufacturer’s stock worth $279,000 after purchasing an additional 736 shares in the last quarter. Ieq Capital LLC grew its position in shares of Micron Technology by 5.2% during the fourth quarter. Ieq Capital LLC now owns 64,569 shares of the semiconductor manufacturer’s stock worth $5,434,000 after purchasing an additional 3,179 shares in the last quarter. Private Advisor Group LLC grew its position in shares of Micron Technology by 15.3% during the fourth quarter. Private Advisor Group LLC now owns 98,177 shares of the semiconductor manufacturer’s stock worth $8,263,000 after purchasing an additional 13,052 shares in the last quarter. Finally, Timber Creek Capital Management LLC grew its position in shares of Micron Technology by 3.2% during the fourth quarter. Timber Creek Capital Management LLC now owns 53,923 shares of the semiconductor manufacturer’s stock worth $4,538,000 after purchasing an additional 1,696 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on MU shares. Needham & Company LLC cut their price target on Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Wedbush restated an “outperform” rating and set a $140.00 price target on shares of Micron Technology in a report on Tuesday, December 17th. The Goldman Sachs Group cut their price target on Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a report on Thursday, December 19th. TD Cowen cut their price target on Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Finally, Piper Sandler cut their price target on Micron Technology from $150.00 to $120.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.96.

Micron Technology Price Performance

MU opened at $104.36 on Thursday. The business has a fifty day moving average of $96.25 and a 200 day moving average of $98.67. Micron Technology, Inc. has a 52-week low of $79.15 and a 52-week high of $157.54. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The stock has a market cap of $116.27 billion, a P/E ratio of 30.07 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data 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 8.32% and a net margin of 13.34%. The company had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.71 billion. During the same quarter in the previous year, the business earned ($0.95) EPS. Micron Technology’s revenue was up 84.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Micron Technology, Inc. will post 6.21 EPS for the current year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s dividend payout ratio is 13.26%.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the transaction, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. The trade was a 2.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.30% of the company’s stock.

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.