Hennion & Walsh Asset Management Inc. Purchases 3,289 Shares of Micron Technology, Inc. (NASDAQ:MU)

Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 60.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 8,739 shares of the semiconductor manufacturer’s stock after acquiring an additional 3,289 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Micron Technology were worth $735,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in MU. Highline Wealth Partners LLC bought a new stake in Micron Technology in the 3rd quarter worth about $26,000. Davis Capital Management bought a new position in shares of Micron Technology in the third quarter worth $30,000. True Wealth Design LLC lifted 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 purchasing an additional 296 shares in the last quarter. DT Investment Partners LLC grew its position in shares of Micron Technology by 261.1% during the 3rd quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 235 shares in the last quarter. Finally, Stone House Investment Management LLC boosted its stake in Micron Technology by 602.2% during the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 277 shares during the period. 80.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MU. Wells Fargo & Company dropped their price objective on shares of Micron Technology from $175.00 to $140.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 price objective on shares of Micron Technology in a report on Wednesday, December 18th. Cantor Fitzgerald reduced their price objective 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. Robert W. Baird decreased their target price on shares of Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. Finally, Susquehanna decreased their target price on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a research note on Thursday, September 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $135.24.

Insider Buying and Selling at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.30% of the company’s stock.

Micron Technology Trading Up 3.1 %

Shares of MU opened at $105.75 on Monday. Micron Technology, Inc. has a fifty-two week low of $79.15 and a fifty-two week high of $157.54. The stock has a market capitalization of $117.82 billion, a PE ratio of 30.48 and a beta of 1.18. The company’s fifty day moving average is $97.87 and its 200 day moving average is $102.27. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.19. The company had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. Micron Technology’s quarterly revenue was up 84.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.95) EPS. Sell-side analysts expect that Micron Technology, Inc. will post 6.25 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.43%. The ex-dividend date was Monday, December 30th. Micron Technology’s payout ratio is currently 13.26%.

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.