Teamwork Financial Advisors LLC Takes Position in Micron Technology, Inc. (NASDAQ:MU)

Teamwork Financial Advisors LLC acquired a new stake in Micron Technology, Inc. (NASDAQ:MU) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 11,849 shares of the semiconductor manufacturer’s stock, valued at approximately $997,000.

Several other institutional investors have also added to or reduced their stakes in MU. Harmony Asset Management LLC lifted its position in shares of Micron Technology by 75.6% in the 3rd quarter. Harmony Asset Management LLC now owns 11,889 shares of the semiconductor manufacturer’s stock worth $1,233,000 after purchasing an additional 5,120 shares during the period. Lazard Freres Gestion S.A.S. boosted its position in shares of Micron Technology by 241.7% during the 3rd quarter. Lazard Freres Gestion S.A.S. now owns 41,000 shares of the semiconductor manufacturer’s stock worth $4,252,000 after purchasing an additional 29,000 shares in the last quarter. Chartwell Investment Partners LLC grew its stake in shares of Micron Technology by 26.4% in the 3rd quarter. Chartwell Investment Partners LLC now owns 195,115 shares of the semiconductor manufacturer’s stock valued at $20,236,000 after buying an additional 40,802 shares during the period. State Street Corp boosted its holdings in Micron Technology by 3.1% in the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock worth $5,001,592,000 after acquiring an additional 1,434,568 shares in the last quarter. Finally, Global X Japan Co. Ltd. lifted its holdings in shares of Micron Technology by 23.1% in the 3rd quarter. Global X Japan Co. Ltd. now owns 51,832 shares of the semiconductor manufacturer’s stock worth $5,375,000 after purchasing an additional 9,735 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Price Performance

Shares of MU stock opened at $109.23 on Thursday. 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 stock has a market cap of $121.70 billion, a price-to-earnings ratio of 31.48 and a beta of 1.18. The business’s fifty day moving average is $98.11 and its 200 day moving average is $101.70. Micron Technology, Inc. has a twelve month low of $79.15 and a twelve month high of $157.54.

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, topping the consensus estimate of $1.60 by $0.19. The firm 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 company’s revenue was up 84.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.95) earnings per share. Research analysts expect that Micron Technology, Inc. will post 6.25 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. Stockholders of record on Monday, December 30th were paid a $0.115 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 annualized dividend and a dividend yield of 0.42%. Micron Technology’s dividend payout ratio (DPR) is 13.26%.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Friday, December 20th. The shares were 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 directly owns 181,223 shares of the company’s stock, valued at $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on MU shares. JPMorgan Chase & Co. dropped their price target on shares of Micron Technology from $180.00 to $145.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Rosenblatt Securities restated a “buy” rating and set a $250.00 price target on shares of Micron Technology in a research report on Wednesday, December 18th. Raymond James increased their target price on shares of Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Stifel Nicolaus dropped their price objective on Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Finally, Wedbush restated an “outperform” rating and issued a $140.00 target price on shares of Micron Technology in a research note on Tuesday, December 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat.com, Micron Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $135.24.

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.