OneAscent Financial Services LLC Raises Position in Micron Technology, Inc. (NASDAQ:MU)

OneAscent Financial Services LLC raised its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 61.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,162 shares of the semiconductor manufacturer’s stock after buying an additional 1,204 shares during the quarter. OneAscent Financial Services LLC’s holdings in Micron Technology were worth $266,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Beacon Capital Management LLC lifted its holdings in shares of Micron Technology by 114.9% during the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after acquiring an additional 200 shares during the last quarter. Midwest Capital Advisors LLC purchased a new stake in Micron Technology during the fourth quarter valued at about $33,000. Activest Wealth Management lifted its stake in Micron Technology by 583.3% during the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 350 shares during the last quarter. Comprehensive Financial Planning Inc. PA purchased a new position in shares of Micron Technology in the 4th quarter worth about $34,000. Finally, Curio Wealth LLC bought a new position in shares of Micron Technology during the 4th quarter valued at about $34,000. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Price Performance

Shares of NASDAQ MU opened at $64.72 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. Micron Technology, Inc. has a 1 year low of $63.86 and a 1 year high of $157.54. The company’s 50-day moving average is $93.42 and its 200 day moving average is $98.10. The stock has a market capitalization of $72.33 billion, a P/E ratio of 18.65 and a beta of 1.23.

Micron Technology (NASDAQ:MU) last announced its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.93 billion. During the same quarter in the prior year, the company earned $0.42 EPS. The business’s revenue was up 38.2% compared to the same quarter last year. On average, sell-side analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date is Monday, March 31st. Micron Technology’s dividend payout ratio (DPR) is presently 11.03%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Morgan Stanley boosted their target price on Micron Technology from $91.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Friday, March 21st. Robert W. Baird boosted their price objective on shares of Micron Technology from $130.00 to $163.00 and gave the stock an “outperform” rating in a report on Friday, March 21st. Citigroup reduced their target price on shares of Micron Technology from $150.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Barclays boosted their price target on shares of Micron Technology from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. Finally, Rosenblatt Securities decreased their price objective on Micron Technology from $250.00 to $200.00 and set a “buy” rating on the stock in a report on Friday, March 21st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $129.76.

Insider Transactions at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the transaction, the director now directly owns 27,358 shares in the company, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of the company’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the completion of the transaction, the executive vice president now owns 164,769 shares in the company, valued at approximately $15,847,482.42. The trade was a 8.34 % decrease in their position. The disclosure for this sale can be found here. 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.