Ritholtz Wealth Management Has $1.67 Million Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Ritholtz Wealth Management lowered its stake in Micron Technology, Inc. (NASDAQ:MU) by 2.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 19,875 shares of the semiconductor manufacturer’s stock after selling 599 shares during the period. Ritholtz Wealth Management’s holdings in Micron Technology were worth $1,673,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp increased its position in Micron Technology by 3.1% during the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock worth $5,001,592,000 after buying an additional 1,434,568 shares during the last quarter. Primecap Management Co. CA increased its position in Micron Technology by 0.6% during the third quarter. Primecap Management Co. CA now owns 37,631,860 shares of the semiconductor manufacturer’s stock worth $3,902,800,000 after buying an additional 206,499 shares during the last quarter. Geode Capital Management LLC increased its position in Micron Technology by 3.9% during the third quarter. Geode Capital Management LLC now owns 23,723,545 shares of the semiconductor manufacturer’s stock worth $2,451,987,000 after buying an additional 892,607 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Micron Technology by 21.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock worth $1,174,643,000 after buying an additional 2,022,180 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in Micron Technology by 30.6% during the third quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock worth $1,109,769,000 after buying an additional 2,477,985 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on MU. Susquehanna lowered their price target on Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a research report on Thursday, September 26th. Bank of America cut Micron Technology from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $125.00 to $110.00 in a report on Thursday, December 19th. Barclays reduced their price objective on Micron Technology from $145.00 to $110.00 and set an “overweight” rating for the company in a report on Friday, December 20th. The Goldman Sachs Group reduced their price objective on Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Finally, Wedbush restated an “outperform” rating and set a $140.00 price objective on shares of Micron Technology in a report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $135.24.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Friday, December 20th. The stock was 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 in the company, valued at $15,442,011.83. This 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. Company insiders own 0.30% of the company’s stock.

Micron Technology Stock Up 3.1 %

NASDAQ MU opened at $105.75 on Friday. The business has a fifty day moving average price of $97.87 and a two-hundred day moving average price of $102.48. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. 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.

Micron Technology (NASDAQ:MU) last released its 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 quarterly revenue was up 84.3% on a year-over-year basis. During the same period in the prior year, the company earned ($0.95) earnings per share. Equities analysts expect that Micron Technology, Inc. will post 6.25 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 annualized dividend and a dividend yield of 0.43%. Micron Technology’s dividend payout ratio (DPR) is presently 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.