Deltec Asset Management LLC Purchases 40,650 Shares of Micron Technology, Inc. (NASDAQ:MU)

Deltec Asset Management LLC boosted its holdings in Micron Technology, Inc. (NASDAQ:MU) by 135.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 70,752 shares of the semiconductor manufacturer’s stock after acquiring an additional 40,650 shares during the quarter. Micron Technology accounts for about 1.2% of Deltec Asset Management LLC’s holdings, making the stock its 23rd biggest position. Deltec Asset Management LLC’s holdings in Micron Technology were worth $5,954,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of MU. Confluence Wealth Services Inc. raised its stake in shares of Micron Technology by 81.2% in the fourth quarter. Confluence Wealth Services Inc. now owns 3,704 shares of the semiconductor manufacturer’s stock worth $312,000 after purchasing an additional 1,660 shares during the last quarter. Stratos Wealth Advisors LLC grew its holdings in Micron Technology by 2.5% during the fourth quarter. Stratos Wealth Advisors LLC now owns 8,208 shares of the semiconductor manufacturer’s stock worth $691,000 after buying an additional 204 shares in the last quarter. Avitas Wealth Management LLC raised its position in Micron Technology by 0.6% in the 4th quarter. Avitas Wealth Management LLC now owns 24,553 shares of the semiconductor manufacturer’s stock valued at $2,066,000 after buying an additional 137 shares during the last quarter. Greenwood Capital Associates LLC lifted its stake in Micron Technology by 21.4% during the 4th quarter. Greenwood Capital Associates LLC now owns 59,845 shares of the semiconductor manufacturer’s stock valued at $5,037,000 after acquiring an additional 10,566 shares in the last quarter. Finally, E. Ohman J or Asset Management AB boosted its holdings in Micron Technology by 11.2% during the 4th quarter. E. Ohman J or Asset Management AB now owns 49,930 shares of the semiconductor manufacturer’s stock worth $4,202,000 after acquiring an additional 5,030 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred 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 of the company’s stock, 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 document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.30% of the company’s stock.

Micron Technology Price Performance

Micron Technology stock opened at $90.66 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. Micron Technology, Inc. has a one year low of $79.15 and a one year high of $157.54. The firm has a market capitalization of $101.01 billion, a P/E ratio of 26.13 and a beta of 1.18. The business has a fifty day moving average price of $96.91 and a 200-day moving average price of $99.38.

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

Micron Technology Announces Dividend

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

Analyst Ratings Changes

Several brokerages have recently commented on MU. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 target price on shares of Micron Technology in a report on Wednesday, December 18th. Sanford C. Bernstein dropped their target price on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. Cantor Fitzgerald cut their target price on Micron Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. The Goldman Sachs Group decreased their price target on Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Finally, Needham & Company LLC cut their price objective on Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $134.96.

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.