Courier Capital LLC Purchases 300 Shares of Micron Technology, Inc. (NASDAQ:MU)

Courier Capital LLC raised its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 3.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,885 shares of the semiconductor manufacturer’s stock after acquiring an additional 300 shares during the period. Courier Capital LLC’s holdings in Micron Technology were worth $748,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of MU. Miracle Mile Advisors LLC purchased a new position in shares of Micron Technology in the fourth quarter worth about $253,000. Claro Advisors LLC increased its stake in Micron Technology by 9.5% in the 4th quarter. Claro Advisors LLC now owns 3,762 shares of the semiconductor manufacturer’s stock worth $317,000 after purchasing an additional 326 shares during the period. Cooper Financial Group increased its stake in Micron Technology by 8.8% in the 4th quarter. Cooper Financial Group now owns 12,553 shares of the semiconductor manufacturer’s stock worth $1,056,000 after purchasing an additional 1,020 shares during the period. Wedmont Private Capital boosted its stake in shares of Micron Technology by 3.7% during the fourth quarter. Wedmont Private Capital now owns 13,369 shares of the semiconductor manufacturer’s stock valued at $1,125,000 after purchasing an additional 482 shares during the period. Finally, JTC Employer Solutions Trustee Ltd purchased a new stake in shares of Micron Technology during the fourth quarter valued at approximately $165,000. 80.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Bank of America lowered shares of Micron Technology from a “buy” rating to a “neutral” rating and lowered their price target for the company from $125.00 to $110.00 in a report on Thursday, December 19th. Wedbush reaffirmed an “outperform” rating and set a $140.00 price objective on shares of Micron Technology in a research note on Tuesday, December 17th. Robert W. Baird reduced their price target on Micron Technology from $150.00 to $130.00 and set an “outperform” rating on the stock in a report on Thursday, December 19th. Barclays lowered their price target on Micron Technology from $145.00 to $110.00 and set an “overweight” rating for the company in a research report on Friday, December 20th. Finally, Piper Sandler cut their price objective on Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. One 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $135.24.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction 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 represents a 2.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.30% of the stock is owned by insiders.

Micron Technology Stock Down 4.3 %

MU stock opened at $95.06 on Tuesday. The business has a 50 day moving average of $98.55 and a 200 day moving average of $102.89. The firm has a market cap of $105.90 billion, a PE ratio of 139.80 and a beta of 1.16. Micron Technology, Inc. has a twelve month low of $79.15 and a twelve month high of $157.54. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.19. The firm had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The company’s revenue was up 84.3% on a year-over-year basis. During the same period last year, the company earned ($0.95) earnings per share. On average, research analysts forecast that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th 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 0.48%. The ex-dividend date is Monday, December 30th. Micron Technology’s payout ratio is 67.65%.

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.