Stiles Financial Services Inc Trims Stake in Micron Technology, Inc. (NASDAQ:MU)

Stiles Financial Services Inc cut its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 7.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 7,473 shares of the semiconductor manufacturer’s stock after selling 571 shares during the quarter. Stiles Financial Services Inc’s holdings in Micron Technology were worth $629,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC purchased a new stake in shares of Micron Technology during the third quarter valued at $26,000. True Wealth Design LLC boosted its position in Micron Technology by 1,096.3% in the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after buying an additional 296 shares during the period. DT Investment Partners LLC boosted its position in Micron Technology by 261.1% in the 3rd quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 235 shares during the period. Stone House Investment Management LLC grew its stake in Micron Technology by 602.2% in the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 277 shares in the last quarter. Finally, Darwin Wealth Management LLC purchased a new position in shares of Micron Technology during the third quarter worth approximately $39,000. 80.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MU has been the subject of a number of research reports. Needham & Company LLC lowered their price target on Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Rosenblatt Securities reissued a “buy” rating and set a $250.00 price target on shares of Micron Technology in a research report on Wednesday, December 18th. Morgan Stanley cut their price target on Micron Technology from $98.00 to $91.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 28th. Wells Fargo & Company lowered their price objective on shares of Micron Technology from $175.00 to $140.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Finally, Bank of America downgraded shares of Micron Technology from a “buy” rating to a “neutral” rating and cut their target price for the company from $125.00 to $110.00 in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat, Micron Technology currently has an average rating of “Moderate Buy” and an average target price of $134.96.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the sale, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. This trade represents a 2.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.30% of the company’s stock.

Micron Technology Stock Down 2.4 %

MU stock opened at $92.30 on Monday. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 52 week low of $79.15 and a 52 week high of $157.54. The stock has a market capitalization of $102.84 billion, a PE ratio of 26.60 and a beta of 1.18. The firm has a 50 day moving average of $96.63 and a 200 day moving average of $99.04.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. During the same period in the previous year, the company earned ($0.95) earnings per share. The business’s quarterly revenue was up 84.3% compared to the same quarter last year. Sell-side analysts forecast that Micron Technology, Inc. will post 6.29 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s payout ratio is 13.26%.

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.