Strengthening Families & Communities LLC Purchases 959 Shares of Micron Technology, Inc. (NASDAQ:MU)

Strengthening Families & Communities LLC raised its position in Micron Technology, Inc. (NASDAQ:MU) by 155.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,575 shares of the semiconductor manufacturer’s stock after buying an additional 959 shares during the quarter. Strengthening Families & Communities LLC’s holdings in Micron Technology were worth $133,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in MU. Harmony Asset Management LLC grew its stake in Micron Technology by 75.6% in the 3rd quarter. Harmony Asset Management LLC now owns 11,889 shares of the semiconductor manufacturer’s stock valued at $1,233,000 after buying an additional 5,120 shares in the last quarter. Lazard Freres Gestion S.A.S. raised its stake in shares of Micron Technology by 241.7% during the 3rd quarter. Lazard Freres Gestion S.A.S. now owns 41,000 shares of the semiconductor manufacturer’s stock valued at $4,252,000 after purchasing an additional 29,000 shares during the period. Chartwell Investment Partners LLC lifted its holdings in Micron Technology by 26.4% during the 3rd quarter. Chartwell Investment Partners LLC now owns 195,115 shares of the semiconductor manufacturer’s stock worth $20,236,000 after purchasing an additional 40,802 shares in the last quarter. Stablepoint Partners LLC bought a new position in Micron Technology in the 4th quarter worth about $569,000. Finally, State Street Corp grew its holdings in Micron Technology by 3.1% during the 3rd 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 in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Activity at Micron Technology

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 completion of the transaction, the executive vice president now directly owns 181,223 shares in the company, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.30% of the stock is owned by corporate insiders.

Micron Technology Stock Performance

NASDAQ:MU opened at $95.93 on Tuesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. Micron Technology, Inc. has a fifty-two week low of $79.15 and a fifty-two week high of $157.54. The business has a 50 day moving average price of $96.63 and a 200-day moving average price of $98.96. The firm has a market cap of $106.88 billion, a PE ratio of 27.65 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last posted 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. The company had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. Micron Technology’s revenue for the quarter was up 84.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.95) earnings per share. Equities research analysts predict that Micron Technology, Inc. will post 6.29 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date was Monday, December 30th. Micron Technology’s payout ratio is 13.26%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on MU shares. Wells Fargo & Company lowered their price target on shares of Micron Technology from $175.00 to $140.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Robert W. Baird lowered their target price on shares of Micron Technology from $150.00 to $130.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 price target on shares of Micron Technology in a report on Wednesday, December 18th. China Renaissance started coverage on Micron Technology in a research note on Monday, October 28th. They set a “buy” rating and a $148.00 price objective for the company. Finally, Wedbush restated an “outperform” rating and issued a $140.00 target price on shares of Micron Technology in a research note on Tuesday, December 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.96.

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.