Micron Technology, Inc. (NASDAQ:MU) Stake Cut by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. decreased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 18.9% in the 4th quarter, Holdings Channel reports. The firm owned 27,999 shares of the semiconductor manufacturer’s stock after selling 6,514 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Micron Technology were worth $2,356,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Avitas Wealth Management LLC lifted its holdings in shares of Micron Technology by 0.6% in the 4th quarter. Avitas Wealth Management LLC now owns 24,553 shares of the semiconductor manufacturer’s stock worth $2,066,000 after purchasing an additional 137 shares during the last quarter. Greenwood Capital Associates LLC increased its position in Micron Technology by 21.4% in the fourth quarter. Greenwood Capital Associates LLC now owns 59,845 shares of the semiconductor manufacturer’s stock worth $5,037,000 after buying an additional 10,566 shares during the period. E. Ohman J or Asset Management AB boosted its holdings in shares of Micron Technology by 11.2% during the fourth quarter. E. Ohman J or Asset Management AB now owns 49,930 shares of the semiconductor manufacturer’s stock valued at $4,202,000 after acquiring an additional 5,030 shares during the period. Welch Group LLC grew its position in shares of Micron Technology by 6.7% during the fourth quarter. Welch Group LLC now owns 4,764 shares of the semiconductor manufacturer’s stock worth $406,000 after acquiring an additional 300 shares during the last quarter. Finally, Calamos Wealth Management LLC increased its holdings in shares of Micron Technology by 5.2% in the 4th quarter. Calamos Wealth Management LLC now owns 3,976 shares of the semiconductor manufacturer’s stock worth $335,000 after acquiring an additional 198 shares during the period. 80.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Micron Technology 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 transaction, 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 document filed with the SEC, which is available at this hyperlink. 0.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MU. TD Cowen reduced their target price on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Mizuho decreased their price objective on Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. Needham & Company LLC lowered their target price 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. Barclays decreased their price target on Micron Technology from $145.00 to $110.00 and set an “overweight” rating for the company in a research note on Friday, December 20th. Finally, Wells Fargo & Company cut their price objective on shares of Micron Technology from $175.00 to $140.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat, Micron Technology presently has an average rating of “Moderate Buy” and a consensus price target of $134.96.

Micron Technology Stock Down 2.4 %

MU stock opened at $92.30 on Friday. 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 firm has a market capitalization of $102.84 billion, a P/E ratio of 26.60 and a beta of 1.18. Micron Technology, Inc. has a 52-week low of $79.15 and a 52-week high of $157.54. The company’s 50 day simple moving average is $96.75 and its 200-day simple moving average is $99.31.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.19. The company had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company’s revenue 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 anticipate that Micron Technology, Inc. will post 6.29 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were paid a dividend of $0.115 per share. The ex-dividend date was Monday, December 30th. This represents a $0.46 annualized dividend and a yield of 0.50%. Micron Technology’s dividend payout ratio (DPR) is presently 13.26%.

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.