Timber Creek Capital Management LLC Purchases 1,696 Shares of Micron Technology, Inc. (NASDAQ:MU)

Timber Creek Capital Management LLC lifted its position in Micron Technology, Inc. (NASDAQ:MU) by 3.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 53,923 shares of the semiconductor manufacturer’s stock after buying an additional 1,696 shares during the period. Timber Creek Capital Management LLC’s holdings in Micron Technology were worth $4,538,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in MU. Creative Planning raised its holdings in Micron Technology by 8.1% in the third quarter. Creative Planning now owns 161,774 shares of the semiconductor manufacturer’s stock worth $16,751,000 after purchasing an additional 12,168 shares in the last quarter. Swedbank AB raised its holdings in Micron Technology by 30.4% in the third quarter. Swedbank AB now owns 3,455,819 shares of the semiconductor manufacturer’s stock worth $358,403,000 after purchasing an additional 806,639 shares in the last quarter. Stratos Wealth Advisors LLC raised its holdings in Micron Technology by 32.0% in the third quarter. Stratos Wealth Advisors LLC now owns 8,004 shares of the semiconductor manufacturer’s stock worth $830,000 after purchasing an additional 1,942 shares in the last quarter. Resonant Capital Advisors LLC raised its holdings in Micron Technology by 9.1% in the third quarter. Resonant Capital Advisors LLC now owns 2,144 shares of the semiconductor manufacturer’s stock worth $222,000 after purchasing an additional 179 shares in the last quarter. Finally, OLD National Bancorp IN raised its holdings in Micron Technology by 26.7% in the third quarter. OLD National Bancorp IN now owns 4,721 shares of the semiconductor manufacturer’s stock worth $490,000 after purchasing an additional 995 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Price Performance

Micron Technology stock opened at $106.79 on Wednesday. The company’s fifty day moving average price is $96.21 and its 200 day moving average price is $98.62. Micron Technology, Inc. has a 1 year low of $79.15 and a 1 year high of $157.54. The stock has a market capitalization of $118.98 billion, a P/E ratio of 30.78 and a beta of 1.18. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72.

Micron Technology (NASDAQ:MU) last released its quarterly 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 firm had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.71 billion. During the same quarter last year, the company earned ($0.95) EPS. The firm’s revenue for the quarter was up 84.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Micron Technology, Inc. will post 6.29 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors 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 0.43%. Micron Technology’s dividend payout ratio is currently 13.26%.

Analyst Ratings Changes

A number of equities analysts have commented on MU shares. Cantor Fitzgerald reduced their target price on shares of Micron Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. 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 report on Thursday, December 19th. Piper Sandler cut their price objective on shares of Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. UBS Group cut their price objective on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Finally, Bank of America downgraded shares of Micron Technology from a “buy” rating to a “neutral” rating and cut their price objective for the company from $125.00 to $110.00 in a report on Thursday, December 19th. One investment 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $134.96.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction on 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 owns 181,223 shares in the company, valued at approximately $15,442,011.83. This trade represents a 2.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.30% of the stock is owned by corporate insiders.

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.