CWA Asset Management Group LLC reduced its stake in Micron Technology, Inc. (NASDAQ:MU – Get Rating) by 5.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 49,672 shares of the semiconductor manufacturer’s stock after selling 3,023 shares during the period. CWA Asset Management Group LLC’s holdings in Micron Technology were worth $2,483,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Sei Investments Co. boosted its stake in Micron Technology by 12.8% during the 1st quarter. Sei Investments Co. now owns 350,644 shares of the semiconductor manufacturer’s stock valued at $27,314,000 after purchasing an additional 39,693 shares during the last quarter. Prudential PLC purchased a new stake in Micron Technology during the 1st quarter valued at $1,672,000. Brighton Jones LLC boosted its stake in Micron Technology by 12.3% during the 1st quarter. Brighton Jones LLC now owns 2,909 shares of the semiconductor manufacturer’s stock valued at $227,000 after purchasing an additional 318 shares during the last quarter. Baird Financial Group Inc. boosted its stake in Micron Technology by 9.2% during the 1st quarter. Baird Financial Group Inc. now owns 200,423 shares of the semiconductor manufacturer’s stock valued at $15,611,000 after purchasing an additional 16,953 shares during the last quarter. Finally, Zions Bancorporation N.A. boosted its stake in Micron Technology by 52.5% during the 1st quarter. Zions Bancorporation N.A. now owns 2,121 shares of the semiconductor manufacturer’s stock valued at $165,000 after purchasing an additional 730 shares during the last quarter. 78.02% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several analysts have commented on the company. Raymond James initiated coverage on Micron Technology in a research note on Wednesday, March 1st. They set an “outperform” rating and a $70.00 target price on the stock. Cowen lowered their price target on Micron Technology from $70.00 to $66.00 and set an “outperform” rating on the stock in a report on Thursday, December 22nd. UBS Group lowered their price target on Micron Technology from $75.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, December 22nd. Deutsche Bank Aktiengesellschaft cut Micron Technology from a “buy” rating to a “hold” rating and decreased their target price for the stock from $60.00 to $55.00 in a report on Monday, December 12th. Finally, Mizuho raised Micron Technology from a “neutral” rating to a “buy” rating and raised their target price for the stock from $48.00 to $72.00 in a report on Friday, February 10th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.26.
Micron Technology Stock Up 0.2 %
Micron Technology (NASDAQ:MU – Get Rating) last issued its earnings results on Wednesday, December 21st. The semiconductor manufacturer reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). The company had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4.14 billion. Micron Technology had a return on equity of 13.26% and a net margin of 22.78%. The business’s revenue was down 46.9% compared to the same quarter last year. During the same period last year, the business posted $2.07 earnings per share. On average, equities analysts predict that Micron Technology, Inc. will post -2.71 EPS for the current year.
Micron Technology Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, January 19th. Shareholders of record on Tuesday, January 3rd were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date was Friday, December 30th. Micron Technology’s dividend payout ratio (DPR) is 8.35%.
Insider Transactions at Micron Technology
In other Micron Technology news, SVP April S. Arnzen sold 24,000 shares of the stock in a transaction on Monday, January 30th. The stock was sold at an average price of $61.91, for a total transaction of $1,485,840.00. Following the sale, the senior vice president now owns 118,885 shares of the company’s stock, valued at approximately $7,360,170.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Micron Technology news, SVP April S. Arnzen sold 24,000 shares of the stock in a transaction dated Monday, January 30th. The shares were sold at an average price of $61.91, for a total transaction of $1,485,840.00. Following the completion of the sale, the senior vice president now directly owns 118,885 shares of the company’s stock, valued at $7,360,170.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Robert P. Beard sold 3,000 shares of Micron Technology stock in a transaction that occurred on Monday, January 23rd. The stock was sold at an average price of $61.25, for a total transaction of $183,750.00. Following the completion of the transaction, the senior vice president now directly owns 42,840 shares in the company, valued at approximately $2,623,950. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,000 shares of company stock valued at $3,982,190. Company insiders own 0.33% of the company’s stock.
About Micron Technology
Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute & Networking Business Unit (CNBU), Mobile Business Unit (MBU), Storage Business Unit (SBU), and Embedded Business Unit (EBU). The CNBU segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.
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