Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC decreased its stake in Micron Technology, Inc. (NASDAQ:MU) by 9.9% during the 4th quarter, Holdings Channel reports. The firm owned 108,783 shares of the semiconductor manufacturer’s stock after selling 11,948 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Micron Technology were worth $9,155,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of MU. Bartlett & CO. Wealth Management LLC grew its holdings in shares of Micron Technology by 13.1% during the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 10,916 shares of the semiconductor manufacturer’s stock worth $920,000 after buying an additional 1,264 shares in the last quarter. Simon Quick Advisors LLC boosted its position in Micron Technology by 6.3% during the fourth quarter. Simon Quick Advisors LLC now owns 4,294 shares of the semiconductor manufacturer’s stock worth $361,000 after acquiring an additional 253 shares during the last quarter. Oxinas Partners Wealth Management LLC purchased a new stake in Micron Technology during the 4th quarter valued at about $271,000. Octavia Wealth Advisors LLC raised its holdings in Micron Technology by 1.6% in the 4th quarter. Octavia Wealth Advisors LLC now owns 13,987 shares of the semiconductor manufacturer’s stock valued at $1,179,000 after acquiring an additional 214 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH lifted its stake in Micron Technology by 11.7% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 502,374 shares of the semiconductor manufacturer’s stock worth $42,280,000 after purchasing an additional 52,729 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company dropped their price target on Micron Technology from $175.00 to $140.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Morgan Stanley cut their target price on Micron Technology from $114.00 to $98.00 and set an “equal weight” rating for the company in a research note on Thursday, December 19th. Cantor Fitzgerald lowered their price target 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. Robert W. Baird cut their price objective on shares of Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 target price on shares of Micron Technology in a report on Wednesday, December 18th. One investment 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $135.24.

Micron Technology Price Performance

Micron Technology stock opened at $91.09 on Tuesday. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 52-week low of $79.15 and a 52-week high of $157.54. The firm has a market cap of $101.48 billion, a PE ratio of 26.25 and a beta of 1.18. The company’s 50 day moving average is $98.36 and its two-hundred day moving average is $101.08.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS 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%. Micron Technology’s revenue for the quarter was up 84.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.95) EPS. On average, research analysts expect that Micron Technology, Inc. will post 6.29 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s dividend payout ratio (DPR) is presently 13.26%.

Insider Buying and Selling at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the completion of the sale, the executive vice president now owns 181,223 shares in the company, valued at $15,442,011.83. The trade was a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.30% of the company’s stock.

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.