Richard W. Paul & Associates LLC Has $872,000 Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Richard W. Paul & Associates LLC trimmed its stake in Micron Technology, Inc. (NASDAQ:MU) by 1.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,363 shares of the semiconductor manufacturer’s stock after selling 206 shares during the quarter. Richard W. Paul & Associates LLC’s holdings in Micron Technology were worth $872,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Metis Global Partners LLC increased its stake in shares of Micron Technology by 4.3% during the 4th quarter. Metis Global Partners LLC now owns 43,856 shares of the semiconductor manufacturer’s stock worth $3,691,000 after purchasing an additional 1,820 shares during the last quarter. Xcel Wealth Management LLC grew its holdings in Micron Technology by 1.8% during the fourth quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer’s stock worth $518,000 after purchasing an additional 108 shares during the period. US Bancorp DE increased its position in Micron Technology by 5.5% during the fourth quarter. US Bancorp DE now owns 583,559 shares of the semiconductor manufacturer’s stock worth $49,112,000 after buying an additional 30,595 shares during the last quarter. SVB Wealth LLC bought a new stake in Micron Technology in the fourth quarter valued at approximately $1,375,000. Finally, Private Trust Co. NA lifted its position in shares of Micron Technology by 20.9% in the fourth quarter. Private Trust Co. NA now owns 4,657 shares of the semiconductor manufacturer’s stock valued at $392,000 after buying an additional 806 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Trading Up 2.0 %

Shares of MU opened at $93.63 on Friday. 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 52-week low of $83.54 and a 52-week high of $157.54. The firm has a market cap of $104.32 billion, a price-to-earnings ratio of 26.98 and a beta of 1.18. The business’s fifty day moving average is $95.75 and its 200-day moving average is $98.87.

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 8.32% and a net margin of 13.34%. The firm had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.71 billion. During the same quarter in the previous year, the business posted ($0.95) earnings per share. The business’s revenue for the quarter was up 84.3% on a year-over-year basis. Equities analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were given a $0.115 dividend. 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 0.49%. Micron Technology’s dividend payout ratio is currently 13.26%.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction that occurred on 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 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on MU shares. Needham & Company LLC decreased their target price on Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Morgan Stanley decreased their price objective on shares of Micron Technology from $98.00 to $91.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 28th. Piper Sandler cut their target price on shares of Micron Technology from $150.00 to $120.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 price target on shares of Micron Technology in a research note on Wednesday, December 18th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Micron Technology from $180.00 to $145.00 and set an “overweight” 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 given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average 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.