Motley Fool Wealth Management LLC Acquires Shares of 195,426 Micron Technology, Inc. (NASDAQ:MU)

Motley Fool Wealth Management LLC acquired a new stake in Micron Technology, Inc. (NASDAQ:MU) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 195,426 shares of the semiconductor manufacturer’s stock, valued at approximately $16,928,000.

A number of other hedge funds have also modified their holdings of MU. Beacon Capital Management LLC grew its position in Micron Technology by 114.9% in the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after acquiring an additional 200 shares during the period. True Wealth Design LLC boosted its stake in shares of Micron Technology by 1,096.3% in the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after purchasing an additional 296 shares in the last quarter. Midwest Capital Advisors LLC bought a new stake in shares of Micron Technology in the 4th quarter worth about $33,000. Stone House Investment Management LLC increased its position in shares of Micron Technology by 602.2% during the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 277 shares in the last quarter. Finally, Activest Wealth Management lifted its holdings in Micron Technology by 583.3% during the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 350 shares during the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total value of $223,403.72. Following the sale, the director now owns 27,358 shares of the company’s stock, valued at $2,542,378.94. The trade was a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.30% of the stock is currently owned by company insiders.

Micron Technology Stock Performance

Shares of Micron Technology stock opened at $94.18 on Wednesday. Micron Technology, Inc. has a 12 month low of $83.54 and a 12 month high of $157.54. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $104.93 billion, a PE ratio of 27.14 and a beta of 1.23. The stock’s fifty day simple moving average is $96.80 and its 200 day simple moving average is $98.45.

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

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.49%. The ex-dividend date is Monday, March 31st. Micron Technology’s dividend payout ratio (DPR) is presently 11.03%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MU. The Goldman Sachs Group decreased their price objective on shares of Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. UBS Group increased their target price on Micron Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, March 17th. Wells Fargo & Company cut their price target on Micron Technology from $140.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Rosenblatt Securities dropped their target price on shares of Micron Technology from $250.00 to $200.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Finally, Sanford C. Bernstein decreased their price target on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 18th. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Micron Technology currently has an average rating of “Moderate Buy” and an average target price of $132.63.

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.