HighPoint Advisor Group LLC Has $1.93 Million Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

HighPoint Advisor Group LLC trimmed its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 2.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 21,478 shares of the semiconductor manufacturer’s stock after selling 592 shares during the period. HighPoint Advisor Group LLC’s holdings in Micron Technology were worth $1,931,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Beacon Capital Management LLC raised its stake in Micron Technology by 114.9% during the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after acquiring an additional 200 shares in the last quarter. True Wealth Design LLC increased its position in shares of Micron Technology by 1,096.3% during the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after purchasing an additional 296 shares in the last quarter. Midwest Capital Advisors LLC bought a new position in Micron Technology during the 4th quarter valued at about $33,000. Activest Wealth Management boosted its position in Micron Technology by 583.3% in the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 350 shares in the last quarter. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in Micron Technology during the fourth quarter worth about $34,000. Institutional investors own 80.84% of the company’s stock.

Micron Technology Trading Down 1.8 %

NASDAQ MU opened at $86.89 on Tuesday. 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 stock’s 50-day moving average is $95.62 and its 200-day moving average is $98.51. Micron Technology, Inc. has a one year low of $83.54 and a one year high of $157.54. The firm has a market cap of $97.11 billion, a P/E ratio of 25.04 and a beta of 1.23.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. The firm had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business’s revenue was up 38.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.42 earnings per share. Sell-side analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend is Monday, March 31st. Micron Technology’s payout ratio is presently 11.03%.

Analyst Ratings Changes

MU has been the subject of a number of research analyst reports. China Renaissance cut shares of Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 target price for the company. in a research note on Wednesday, March 26th. Royal Bank of Canada set a $125.00 target price on Micron Technology in a report on Wednesday, March 19th. Morgan Stanley lifted their price target on Micron Technology from $91.00 to $112.00 and gave the company an “equal weight” rating in a report on Friday, March 21st. Needham & Company LLC dropped their target price on Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Finally, The Goldman Sachs Group decreased their price target on Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Micron Technology has a consensus rating of “Moderate Buy” and a consensus price target of $129.76.

Insider Buying and Selling at Micron Technology

In related news, EVP April S. Arnzen sold 15,000 shares of the firm’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the completion of the transaction, the executive vice president now owns 164,769 shares of the company’s stock, valued at approximately $15,847,482.42. This trade represents a 8.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the sale, 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 disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

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.