HB Wealth Management LLC Sells 2,038 Shares of Micron Technology, Inc. (NASDAQ:MU)

HB Wealth Management LLC lessened its position in shares of Micron Technology, Inc. (NASDAQ:MUFree Report) by 14.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,043 shares of the semiconductor manufacturer’s stock after selling 2,038 shares during the quarter. HB Wealth Management LLC’s holdings in Micron Technology were worth $1,028,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in MU. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Micron Technology during the third quarter valued at approximately $28,000. OFI Invest Asset Management bought a new position in Micron Technology in the 3rd quarter worth $27,000. VisionPoint Advisory Group LLC increased its stake in Micron Technology by 68.3% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock worth $33,000 after buying an additional 198 shares in the last quarter. Coppell Advisory Solutions LLC purchased a new position in shares of Micron Technology in the second quarter valued at about $32,000. Finally, Fortis Capital Advisors LLC bought a new position in shares of Micron Technology in the fourth quarter worth about $25,000. Institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Performance

Micron Technology stock opened at $117.13 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74. The company has a market capitalization of $129.71 billion, a PE ratio of -33.95 and a beta of 1.24. The company has a 50 day moving average price of $89.26 and a 200-day moving average price of $79.70. Micron Technology, Inc. has a fifty-two week low of $56.01 and a fifty-two week high of $121.41.

Micron Technology (NASDAQ:MUGet Free Report) last issued its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.69. The business had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.35 billion. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The business’s revenue for the quarter was up 57.7% compared to the same quarter last year. During the same period in the prior year, the business earned ($2.03) EPS. As a group, equities analysts forecast that Micron Technology, Inc. will post -1.06 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st will be given a $0.115 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $0.46 annualized dividend and a dividend yield of 0.39%. Micron Technology’s payout ratio is presently -13.33%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Argus raised shares of Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a report on Thursday, March 21st. Barclays raised their price objective on Micron Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a research report on Monday, March 18th. KeyCorp boosted their target price on Micron Technology from $115.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. Bank of America raised their price target on Micron Technology from $100.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Finally, Stifel Nicolaus increased their target price on Micron Technology from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, Micron Technology has an average rating of “Moderate Buy” and a consensus price target of $118.69.

Read Our Latest Report on MU

Insider Activity

In other news, EVP Scott J. Deboer sold 28,228 shares of Micron Technology stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $87.24, for a total value of $2,462,610.72. Following the transaction, the executive vice president now directly owns 203,342 shares in the company, valued at approximately $17,739,556.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Scott J. Deboer sold 28,228 shares of the business’s stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $87.24, for a total transaction of $2,462,610.72. Following the transaction, the executive vice president now directly owns 203,342 shares in the company, valued at approximately $17,739,556.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $82.13, for a total value of $574,910.00. Following the completion of the sale, the chief executive officer now owns 651,759 shares of the company’s stock, valued at $53,528,966.67. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 254,228 shares of company stock worth $24,036,891. Corporate insiders own 0.32% of the company’s stock.

Micron Technology Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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