Bogart Wealth LLC Purchases 839 Shares of Micron Technology, Inc. (NASDAQ:MU)

Bogart Wealth LLC boosted its stake in Micron Technology, Inc. (NASDAQ:MU) by 142.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,428 shares of the semiconductor manufacturer’s stock after buying an additional 839 shares during the quarter. Bogart Wealth LLC’s holdings in Micron Technology were worth $120,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Catalyst Financial Partners LLC boosted its stake in Micron Technology by 6.7% in the 4th quarter. Catalyst Financial Partners LLC now owns 5,328 shares of the semiconductor manufacturer’s stock valued at $448,000 after buying an additional 334 shares in the last quarter. IMS Capital Management boosted its stake in Micron Technology by 16.5% in the 4th quarter. IMS Capital Management now owns 2,650 shares of the semiconductor manufacturer’s stock valued at $223,000 after buying an additional 375 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in Micron Technology by 1.8% in the fourth quarter. Asset Management One Co. Ltd. now owns 433,226 shares of the semiconductor manufacturer’s stock worth $38,381,000 after purchasing an additional 7,465 shares in the last quarter. Naples Global Advisors LLC boosted its stake in Micron Technology by 10.2% in the fourth quarter. Naples Global Advisors LLC now owns 38,311 shares of the semiconductor manufacturer’s stock worth $3,228,000 after purchasing an additional 3,557 shares in the last quarter. Finally, Channing Global Advisors LLC boosted its stake in Micron Technology by 42.9% in the fourth quarter. Channing Global Advisors LLC now owns 45,708 shares of the semiconductor manufacturer’s stock worth $3,847,000 after purchasing an additional 13,713 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Up 4.0 %

Shares of Micron Technology stock opened at $99.52 on Friday. Micron Technology, Inc. has a 1 year low of $79.15 and a 1 year high of $157.54. The business has a 50-day moving average of $96.13 and a two-hundred day moving average of $98.70. The company has a market capitalization of $110.88 billion, a P/E ratio of 28.68 and a beta of 1.18. 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 (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) 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 company had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. During the same period in the prior year, the company earned ($0.95) earnings per share. The company’s revenue for the quarter was up 84.3% compared to the same quarter last year. As a group, equities analysts predict 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 issued a $0.115 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 annualized dividend and a dividend yield of 0.46%. Micron Technology’s dividend payout ratio (DPR) is currently 13.26%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on MU shares. JPMorgan Chase & Co. reduced their price objective on Micron Technology from $180.00 to $145.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Piper Sandler reduced their price objective on Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price objective on shares of Micron Technology in a research note on Wednesday, December 18th. Needham & Company LLC reduced their price objective on Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Finally, UBS Group reduced their price objective on Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $134.96.

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 transaction of $416,676.90. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.30% of the company’s stock.

About Micron Technology

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.