VisionPoint Advisory Group LLC Sells 2,461 Shares of Micron Technology, Inc. (NASDAQ:MU)

VisionPoint Advisory Group LLC trimmed its stake in Micron Technology, Inc. (NASDAQ:MU) by 15.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,880 shares of the semiconductor manufacturer’s stock after selling 2,461 shares during the period. VisionPoint Advisory Group LLC’s holdings in Micron Technology were worth $1,212,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Stonebrook Private Inc. lifted its holdings in shares of Micron Technology by 4.2% in the 3rd quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock worth $255,000 after buying an additional 98 shares during the period. John G Ullman & Associates Inc. raised its position in shares of Micron Technology by 2.5% in the 3rd quarter. John G Ullman & Associates Inc. now owns 4,063 shares of the semiconductor manufacturer’s stock worth $421,000 after acquiring an additional 100 shares in the last quarter. Trivant Custom Portfolio Group LLC raised its position in shares of Micron Technology by 20.0% in the 4th quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer’s stock worth $50,000 after acquiring an additional 100 shares in the last quarter. PDS Planning Inc raised its position in shares of Micron Technology by 2.4% in the 3rd quarter. PDS Planning Inc now owns 4,382 shares of the semiconductor manufacturer’s stock worth $454,000 after acquiring an additional 104 shares in the last quarter. Finally, Lebenthal Global Advisors LLC raised its position in shares of Micron Technology by 1.5% in the 4th quarter. Lebenthal Global Advisors LLC now owns 7,474 shares of the semiconductor manufacturer’s stock worth $629,000 after acquiring an additional 114 shares in the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MU has been the subject of several recent research reports. Morgan Stanley reduced their price target on Micron Technology from $98.00 to $91.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. Stifel Nicolaus reduced their price target on Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a research report 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 for the company in a research report on Thursday, December 19th. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price target on shares of Micron Technology in a research report on Wednesday, December 18th. Finally, TD Cowen reduced their target price on Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. One equities 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $134.96.

Micron Technology Stock Down 1.0 %

Shares of MU opened at $103.28 on Friday. Micron Technology, Inc. has a 52 week low of $79.94 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 company has a market capitalization of $115.07 billion, a price-to-earnings ratio of 29.76 and a beta of 1.18. The stock’s 50-day moving average price is $96.35 and its 200-day moving average price is $98.70.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, topping 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 firm had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.71 billion. During the same quarter in the prior year, the business earned ($0.95) earnings per share. The company’s revenue was up 84.3% compared to the same quarter last year. On average, sell-side analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were given a dividend of $0.115 per share. 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 0.45%. Micron Technology’s dividend payout ratio is currently 13.26%.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the 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 in the company, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.30% of the stock is currently owned by company insiders.

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.