Concurrent Investment Advisors LLC Purchases 1,542 Shares of Micron Technology, Inc. (NASDAQ:MU)

Concurrent Investment Advisors LLC lifted its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 24.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 7,873 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,542 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Micron Technology were worth $663,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Highline Wealth Partners LLC bought a new position in Micron Technology in the 3rd quarter worth about $26,000. Beacon Capital Management LLC boosted its position in shares of Micron Technology by 114.9% during the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after acquiring an additional 200 shares during the last quarter. True Wealth Design LLC boosted its position in shares of Micron Technology by 1,096.3% during the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after acquiring an additional 296 shares during the last quarter. Stone House Investment Management LLC boosted its position in shares of Micron Technology by 602.2% during the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 277 shares during the last quarter. Finally, Activest Wealth Management boosted its position in shares of Micron Technology by 583.3% during the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 350 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

MU has been the subject of a number of research analyst reports. Bank of America downgraded Micron Technology from a “buy” rating to a “neutral” rating and dropped their price target for the company from $125.00 to $110.00 in a research report on Thursday, December 19th. Wedbush reissued an “outperform” rating and set a $140.00 price objective on shares of Micron Technology in a report on Tuesday, December 17th. The Goldman Sachs Group decreased their price objective on Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. China Renaissance started coverage on Micron Technology in a report on Monday, October 28th. They set a “buy” rating and a $148.00 price objective on the stock. Finally, Stifel Nicolaus decreased their price objective on Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $134.96.

Micron Technology Stock Down 4.3 %

MU stock opened at $98.78 on Monday. Micron Technology, Inc. has a 1-year low of $83.54 and a 1-year high of $157.54. The business has a fifty day moving average price of $96.28 and a 200-day moving average price of $98.91. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The stock has a market capitalization of $110.06 billion, a P/E ratio of 28.47 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $8.71 billion. During the same quarter in the previous year, the business earned ($0.95) earnings per share. The company’s revenue was up 84.3% on a year-over-year basis. Equities analysts forecast 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 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 0.47%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s dividend payout ratio is currently 13.26%.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the completion of the sale, the executive vice president now owns 181,223 shares in the company, valued at approximately $15,442,011.83. This represents a 2.63 % 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. Company insiders own 0.30% of the company’s stock.

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.