Thoroughbred Financial Services LLC Buys 156 Shares of Micron Technology, Inc. (NASDAQ:MU)

Thoroughbred Financial Services LLC increased its stake in Micron Technology, Inc. (NASDAQ:MU) by 0.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,295 shares of the semiconductor manufacturer’s stock after acquiring an additional 156 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Micron Technology were worth $1,623,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Beacon Capital Management LLC grew its holdings in Micron Technology by 114.9% during the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after acquiring an additional 200 shares during the period. Midwest Capital Advisors LLC acquired a new stake in Micron Technology during the fourth quarter worth approximately $33,000. Activest Wealth Management increased its holdings in Micron Technology by 583.3% in the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 350 shares in the last quarter. Comprehensive Financial Planning Inc. PA acquired a new position in Micron Technology in the fourth quarter valued at approximately $34,000. Finally, Curio Wealth LLC bought a new position in shares of Micron Technology during the 4th quarter worth approximately $34,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Price Performance

Micron Technology stock opened at $64.72 on Friday. The business’s 50 day simple moving average is $93.42 and its 200 day simple moving average is $98.10. Micron Technology, Inc. has a 12 month low of $63.86 and a 12 month high of $157.54. The company has a market cap of $72.33 billion, a price-to-earnings ratio of 18.65 and a beta of 1.23. 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 posted its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. During the same quarter in the prior year, the company earned $0.42 EPS. The firm’s quarterly revenue was up 38.2% compared to the same quarter last year. Sell-side analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date is Monday, March 31st. Micron Technology’s payout ratio is currently 11.03%.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 15,000 shares of the company’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the sale, the executive vice president now directly owns 164,769 shares in the company, valued at $15,847,482.42. This represents a 8.34 % decrease in their ownership of the stock. 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 firm’s stock in a transaction that occurred on 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 owns 27,358 shares of the company’s stock, valued at $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 owned by insiders.

Analyst Ratings Changes

MU has been the subject of several research analyst reports. Wells Fargo & Company lowered their price objective on shares of Micron Technology from $140.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Morgan Stanley upped their price objective on shares of Micron Technology from $91.00 to $112.00 and gave the company an “equal weight” rating in a report on Friday, March 21st. TD Cowen reduced their target price on Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Piper Sandler dropped their price target on Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Finally, KGI Securities raised Micron Technology to a “strong-buy” rating in a research note on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned 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 a consensus rating of “Moderate Buy” and an average target price of $129.76.

Micron Technology Company 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.