GLOBALT Investments LLC GA Boosts Position in Micron Technology, Inc. (NASDAQ:MU)

GLOBALT Investments LLC GA grew its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 58,305 shares of the semiconductor manufacturer’s stock after buying an additional 803 shares during the period. GLOBALT Investments LLC GA’s holdings in Micron Technology were worth $4,907,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Swedbank AB grew its stake in Micron Technology by 30.4% in the third quarter. Swedbank AB now owns 3,455,819 shares of the semiconductor manufacturer’s stock worth $358,403,000 after purchasing an additional 806,639 shares during the period. OneDigital Investment Advisors LLC grew its stake in Micron Technology by 12.8% in the third quarter. OneDigital Investment Advisors LLC now owns 22,979 shares of the semiconductor manufacturer’s stock worth $2,383,000 after purchasing an additional 2,600 shares during the period. KCM Investment Advisors LLC grew its stake in Micron Technology by 5.7% in the third quarter. KCM Investment Advisors LLC now owns 2,175 shares of the semiconductor manufacturer’s stock worth $226,000 after purchasing an additional 118 shares during the period. Mount Lucas Management LP grew its stake in Micron Technology by 609.9% in the third quarter. Mount Lucas Management LP now owns 7,000 shares of the semiconductor manufacturer’s stock worth $726,000 after purchasing an additional 6,014 shares during the period. Finally, Schear Investment Advisers LLC grew its stake in Micron Technology by 50.6% in the third quarter. Schear Investment Advisers LLC now owns 16,184 shares of the semiconductor manufacturer’s stock worth $1,678,000 after purchasing an additional 5,438 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the 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 completion of the sale, the director now owns 27,358 shares in the company, valued at approximately $2,542,378.94. This trade represents a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the sale, the executive vice president now owns 181,223 shares of the company’s stock, valued at $15,442,011.83. This represents a 2.63 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Bank of America downgraded Micron Technology from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $125.00 to $110.00 in a report on Thursday, December 19th. JPMorgan Chase & Co. dropped their target price on Micron Technology from $180.00 to $145.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. TD Cowen dropped their target price on Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Wedbush reissued an “outperform” rating and issued a $140.00 target price on shares of Micron Technology in a report on Tuesday, December 17th. Finally, UBS Group dropped their target price on Micron Technology from $135.00 to $125.00 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-three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $134.56.

Micron Technology Stock Up 6.2 %

MU stock opened at $100.79 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 business’s 50-day moving average is $96.72 and its two-hundred day moving average is $98.07. The company has a market cap of $112.30 billion, a price-to-earnings ratio of 29.05 and a beta of 1.23. Micron Technology, Inc. has a fifty-two week low of $83.54 and a fifty-two week high of $157.54.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, topping 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 return on equity of 8.32% and a net margin of 13.34%. The business’s quarterly revenue was up 84.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.95) earnings per share. As a group, analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

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

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.