Hazlett Burt & Watson Inc. Purchases 119 Shares of Micron Technology, Inc. (NASDAQ:MU)

Hazlett Burt & Watson Inc. boosted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 1.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,481 shares of the semiconductor manufacturer’s stock after buying an additional 119 shares during the period. Hazlett Burt & Watson Inc.’s holdings in Micron Technology were worth $883,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in MU. Townsquare Capital LLC grew its holdings in Micron Technology by 38.1% during the third quarter. Townsquare Capital LLC now owns 20,811 shares of the semiconductor manufacturer’s stock worth $2,158,000 after buying an additional 5,737 shares in the last quarter. CreativeOne Wealth LLC boosted its holdings in Micron Technology by 12.8% during the third quarter. CreativeOne Wealth LLC now owns 7,231 shares of the semiconductor manufacturer’s stock worth $750,000 after purchasing an additional 823 shares during the last quarter. Fiduciary Trust Co grew its position in Micron Technology by 6.3% in the 3rd quarter. Fiduciary Trust Co now owns 6,377 shares of the semiconductor manufacturer’s stock worth $661,000 after purchasing an additional 376 shares in the last quarter. Icon Wealth Advisors LLC purchased a new stake in Micron Technology in the 3rd quarter valued at about $186,000. Finally, ARGA Investment Management LP lifted its position in shares of Micron Technology by 4.4% during the 3rd quarter. ARGA Investment Management LP now owns 22,405 shares of the semiconductor manufacturer’s stock worth $2,324,000 after buying an additional 945 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MU has been the subject of a number of recent analyst reports. Morgan Stanley upped their price objective on Micron Technology from $91.00 to $112.00 and gave the company an “equal weight” rating in a research note on Friday, March 21st. UBS Group raised their price target on shares of Micron Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, March 17th. Barclays upped their price objective on Micron Technology from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Royal Bank of Canada set a $125.00 target price on Micron Technology in a research report on Wednesday, March 19th. Finally, Mizuho dropped their price target on Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $129.76.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the business’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the transaction, the executive vice president now owns 164,769 shares in the company, valued at approximately $15,847,482.42. The trade was a 8.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the transaction, the director now directly owns 27,358 shares of the company’s stock, valued at approximately $2,542,378.94. This trade represents a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.

Micron Technology Stock Performance

Micron Technology stock opened at $88.44 on Monday. Micron Technology, Inc. has a fifty-two week low of $83.54 and a fifty-two week high of $157.54. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The stock has a market cap of $98.84 billion, a P/E ratio of 25.49 and a beta of 1.23. The firm’s fifty day moving average price is $96.00 and its 200-day moving average price is $98.51.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. The business had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company’s revenue for the quarter was up 38.2% on a year-over-year basis. During the same quarter last year, the business posted $0.42 earnings per share. On average, equities research analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.52%. The ex-dividend date is Monday, March 31st. Micron Technology’s dividend payout ratio (DPR) is presently 11.03%.

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.