Silicon Valley Capital Partners Trims Position in Micron Technology, Inc. (NASDAQ:MU)

Silicon Valley Capital Partners cut its position in Micron Technology, Inc. (NASDAQ:MU) by 55.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,694 shares of the semiconductor manufacturer’s stock after selling 4,619 shares during the period. Silicon Valley Capital Partners’ holdings in Micron Technology were worth $311,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of MU. Highline Wealth Partners LLC bought a new position in Micron Technology during the third quarter valued at $26,000. True Wealth Design LLC increased its stake in Micron Technology by 1,096.3% in the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after buying an additional 296 shares during the period. DT Investment Partners LLC increased its stake in Micron Technology by 261.1% in the 3rd quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 235 shares during the period. Stone House Investment Management LLC increased its stake in Micron Technology by 602.2% in the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 277 shares during the period. Finally, Activest Wealth Management increased its stake in Micron Technology by 583.3% in the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 350 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Stock Performance

NASDAQ:MU opened at $92.30 on Monday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The company has a fifty day moving average of $96.63 and a two-hundred day moving average of $99.04. The stock has a market capitalization of $102.84 billion, a PE ratio of 26.60 and a beta of 1.18. Micron Technology, Inc. has a fifty-two week low of $79.15 and a fifty-two week high of $157.54.

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

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date was Monday, December 30th. Micron Technology’s dividend payout ratio is currently 13.26%.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the 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 completion of the transaction, the executive vice president now owns 181,223 shares of the company’s stock, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Wedbush restated an “outperform” rating and issued a $140.00 price target on shares of Micron Technology in a report on Tuesday, December 17th. Bank of America downgraded shares of Micron Technology from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $125.00 to $110.00 in a research report on Thursday, December 19th. Cantor Fitzgerald cut their price objective on shares of Micron Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Stifel Nicolaus cut their price objective on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Finally, Wells Fargo & Company cut their price objective on shares of Micron Technology from $175.00 to $140.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat.com, Micron Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.96.

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.