Micron Technology, Inc. (NASDAQ:MU) Stock Position Decreased by Mount Yale Investment Advisors LLC

Mount Yale Investment Advisors LLC decreased its position in Micron Technology, Inc. (NASDAQ:MU) by 24.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 11,451 shares of the semiconductor manufacturer’s stock after selling 3,651 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Micron Technology were worth $964,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC bought a new position in Micron Technology during the third quarter valued at about $26,000. Davis Capital Management acquired a new stake in Micron Technology in the 3rd quarter worth approximately $30,000. True Wealth Design LLC grew its holdings in Micron Technology by 1,096.3% during the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after purchasing an additional 296 shares during the last quarter. DT Investment Partners LLC lifted its stake in shares of Micron Technology by 261.1% in the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 235 shares during the last quarter. Finally, Stone House Investment Management LLC lifted its position in Micron Technology by 602.2% during 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 during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on MU. JPMorgan Chase & Co. cut their target price on Micron Technology from $180.00 to $145.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Wedbush reaffirmed an “outperform” rating and set a $140.00 price objective on shares of Micron Technology in a report on Tuesday, December 17th. TD Cowen dropped their target price on Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, December 19th. China Renaissance initiated coverage on Micron Technology in a research note on Monday, October 28th. They issued a “buy” rating and a $148.00 price target on the stock. Finally, KeyCorp dropped their price objective on Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 8th. 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’s stock. Based on data from MarketBeat, Micron Technology presently has a consensus rating of “Moderate Buy” and an average price target of $135.24.

Micron Technology Trading Down 11.7 %

Shares of MU opened at $91.09 on Tuesday. The stock’s fifty day simple moving average is $98.36 and its 200-day simple moving average is $101.08. The firm has a market capitalization of $101.48 billion, a PE ratio of 26.25 and a beta of 1.18. Micron Technology, Inc. has a 12-month low of $79.15 and a 12-month high of $157.54. 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 (NASDAQ:MU) last released its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) 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 company had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.71 billion. During the same period in the prior year, the company posted ($0.95) EPS. The company’s revenue was up 84.3% compared to the same quarter last year. As a group, research analysts predict that Micron Technology, Inc. will post 6.29 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were paid a $0.115 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a yield of 0.51%. Micron Technology’s payout ratio is presently 13.26%.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the sale, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at $15,442,011.83. This represents a 2.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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.