W.G. Shaheen & Associates DBA Whitney & Co Has $6.37 Million Position in Micron Technology, Inc. (NASDAQ:MU)

W.G. Shaheen & Associates DBA Whitney & Co increased its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 2.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 75,625 shares of the semiconductor manufacturer’s stock after buying an additional 1,448 shares during the quarter. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Micron Technology were worth $6,365,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in MU. Stonebrook Private Inc. boosted its position in Micron Technology by 4.2% in the third quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock valued at $255,000 after buying an additional 98 shares in the last quarter. John G Ullman & Associates Inc. lifted its stake in shares of Micron Technology by 2.5% in the 3rd quarter. John G Ullman & Associates Inc. now owns 4,063 shares of the semiconductor manufacturer’s stock valued at $421,000 after acquiring an additional 100 shares during the last quarter. Trivant Custom Portfolio Group LLC boosted its holdings in shares of Micron Technology by 20.0% during the 4th quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer’s stock valued at $50,000 after acquiring an additional 100 shares in the last quarter. PDS Planning Inc increased its holdings in Micron Technology by 2.4% in the 3rd quarter. PDS Planning Inc now owns 4,382 shares of the semiconductor manufacturer’s stock worth $454,000 after purchasing an additional 104 shares in the last quarter. Finally, Lebenthal Global Advisors LLC increased its holdings in Micron Technology by 1.5% in the 4th quarter. Lebenthal Global Advisors LLC now owns 7,474 shares of the semiconductor manufacturer’s stock worth $629,000 after purchasing an additional 114 shares in the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on MU shares. Piper Sandler reduced their price target on Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Needham & Company LLC cut their target price on shares of Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Wells Fargo & Company decreased their price target on shares of Micron Technology from $175.00 to $140.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Cantor Fitzgerald dropped their price target on shares of Micron Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Finally, Mizuho reduced their price objective on shares of Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock in a research note 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 issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.96.

Micron Technology Trading Down 4.3 %

Shares of MU opened at $98.78 on Monday. Micron Technology, Inc. has a twelve month low of $83.54 and a twelve month high of $157.54. The stock has a market cap of $110.06 billion, a PE ratio of 28.47 and a beta of 1.18. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The business’s 50-day moving average price is $96.28 and its 200-day moving average price is $98.91.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. During the same quarter in the prior year, the firm posted ($0.95) EPS. Micron Technology’s revenue was up 84.3% on a year-over-year basis. On average, equities analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s payout ratio is 13.26%.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the sale, the executive vice president now owns 181,223 shares in the company, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.30% of the stock is owned by company insiders.

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.