Uniting Wealth Partners LLC Invests $298,000 in Micron Technology, Inc. (NASDAQ:MU)

Uniting Wealth Partners LLC bought a new stake in Micron Technology, Inc. (NASDAQ:MU) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,542 shares of the semiconductor manufacturer’s stock, valued at approximately $298,000.

A number of other large investors have also added to or reduced their stakes in the company. Beacon Capital Management LLC boosted its stake in Micron Technology by 114.9% in the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after buying an additional 200 shares in the last quarter. Midwest Capital Advisors LLC bought a new position in shares of Micron Technology during the 4th quarter valued at $33,000. Activest Wealth Management raised its position in Micron Technology by 583.3% in the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 350 shares during the period. Comprehensive Financial Planning Inc. PA bought a new stake in Micron Technology in the fourth quarter worth $34,000. Finally, Curio Wealth LLC bought a new position in shares of Micron Technology during the fourth quarter valued at about $34,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Performance

NASDAQ:MU opened at $88.60 on Thursday. The stock has a 50-day moving average price of $94.80 and a 200 day moving average price of $98.42. The stock has a market capitalization of $99.02 billion, a P/E ratio of 25.53 and a beta of 1.23. Micron Technology, Inc. has a 12-month low of $82.42 and a 12-month high of $157.54. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28.

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

Micron Technology Dividend Announcement

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

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction on 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 completion of the transaction, the executive vice president now directly owns 164,769 shares of the company’s stock, valued at $15,847,482.42. This trade represents a 8.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the 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 completion of the transaction, the director now directly owns 27,358 shares of the company’s stock, valued at approximately $2,542,378.94. The trade was a 8.08 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

MU has been the topic of several recent research reports. Stifel Nicolaus reduced their price target on Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Rosenblatt Securities lowered their price target on shares of Micron Technology from $250.00 to $200.00 and set a “buy” rating for the company in a report on Friday, March 21st. Robert W. Baird boosted their price objective on shares of Micron Technology from $130.00 to $163.00 and gave the company an “outperform” rating in a research report on Friday, March 21st. Citigroup cut their target price on Micron Technology from $150.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Finally, Piper Sandler dropped their price objective 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 given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $129.76.

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.