10,838 Shares in Micron Technology, Inc. (NASDAQ:MU) Acquired by Synergy Asset Management LLC

Synergy Asset Management LLC acquired a new stake in Micron Technology, Inc. (NASDAQ:MU) during the fourth quarter, Holdings Channel reports. The fund acquired 10,838 shares of the semiconductor manufacturer’s stock, valued at approximately $947,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Forsta AP Fonden grew its position in shares of Micron Technology by 4.3% in the fourth quarter. Forsta AP Fonden now owns 262,100 shares of the semiconductor manufacturer’s stock valued at $22,058,000 after purchasing an additional 10,700 shares in the last quarter. Smith Group Asset Management LLC acquired a new stake in shares of Micron Technology in the 4th quarter worth $2,525,000. UG Investment Advisers Ltd. raised its holdings in shares of Micron Technology by 25.3% during the 4th quarter. UG Investment Advisers Ltd. now owns 609,137 shares of the semiconductor manufacturer’s stock worth $51,265,000 after acquiring an additional 122,822 shares during the period. Deane Retirement Strategies Inc. acquired a new position in shares of Micron Technology during the 4th quarter valued at about $2,704,000. Finally, Orca Wealth Management LLC purchased a new stake in shares of Micron Technology in the fourth quarter valued at about $703,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

MU has been the topic of a number of analyst reports. Sanford C. Bernstein reduced their target price 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. Barclays reduced their price target on shares of Micron Technology from $145.00 to $110.00 and set an “overweight” rating on the stock in a research report on Friday, December 20th. UBS Group lowered their price objective on Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. KeyCorp reduced their target price on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 8th. Finally, The Goldman Sachs Group lowered their price target on Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat.com, Micron Technology has a consensus rating of “Moderate Buy” and an average target price of $134.96.

Micron Technology Price Performance

Shares of MU opened at $89.04 on Thursday. The firm has a market capitalization of $99.21 billion, a price-to-earnings ratio of 25.66 and a beta of 1.18. The firm’s fifty day simple moving average is $98.04 and its 200-day simple moving average is $100.48. Micron Technology, Inc. has a twelve month low of $79.15 and a twelve 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.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.71 billion. During the same period last year, the firm earned ($0.95) earnings per share. Micron Technology’s quarterly revenue was up 84.3% on a year-over-year basis. Equities analysts forecast that Micron Technology, Inc. will post 6.29 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were issued a dividend of $0.115 per share. 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 0.52%. Micron Technology’s payout ratio is currently 13.26%.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 181,223 shares in the company, valued at approximately $15,442,011.83. The trade was a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.30% of the company’s stock.

Micron Technology Company 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.