PSI Advisors LLC Buys 775 Shares of Micron Technology, Inc. (NASDAQ:MU)

PSI Advisors LLC raised its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 27.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,553 shares of the semiconductor manufacturer’s stock after acquiring an additional 775 shares during the period. PSI Advisors LLC’s holdings in Micron Technology were worth $299,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quest Partners LLC grew its position in Micron Technology by 7,328.6% in the 2nd quarter. Quest Partners LLC now owns 520 shares of the semiconductor manufacturer’s stock valued at $68,000 after acquiring an additional 513 shares during the last quarter. Wealthspire Advisors LLC grew its holdings in shares of Micron Technology by 23.4% in the second quarter. Wealthspire Advisors LLC now owns 2,483 shares of the semiconductor manufacturer’s stock worth $327,000 after purchasing an additional 471 shares during the last quarter. Oppenheimer Asset Management Inc. increased its stake in Micron Technology by 33.0% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 19,816 shares of the semiconductor manufacturer’s stock worth $2,606,000 after buying an additional 4,914 shares during the period. Quilter Plc lifted its holdings in Micron Technology by 1.1% during the 2nd quarter. Quilter Plc now owns 197,201 shares of the semiconductor manufacturer’s stock valued at $25,938,000 after buying an additional 2,119 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in Micron Technology by 144.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 978,193 shares of the semiconductor manufacturer’s stock valued at $128,662,000 after buying an additional 578,132 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Price Performance

Shares of NASDAQ MU opened at $95.06 on Tuesday. Micron Technology, Inc. has a fifty-two week low of $79.15 and a fifty-two week high of $157.54. The company has a market cap of $105.90 billion, a PE ratio of 139.80 and a beta of 1.16. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. The business has a 50-day simple moving average of $98.55 and a two-hundred day simple moving average of $102.89.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The company had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.71 billion. During the same period last year, the business earned ($0.95) EPS. Micron Technology’s revenue for the quarter was up 84.3% on a year-over-year basis. As a group, equities analysts expect that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th will be issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date is Monday, December 30th. Micron Technology’s dividend payout ratio (DPR) is presently 67.65%.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Friday, December 20th. The shares were 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 directly owns 181,223 shares in the company, valued at approximately $15,442,011.83. The trade was a 2.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.30% of the stock is owned by insiders.

Analysts Set New Price Targets

MU has been the topic of a number of research reports. Cantor Fitzgerald reduced their target price 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. UBS Group decreased their target price on Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Stifel Nicolaus lowered their target price on Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Wedbush restated an “outperform” rating and set a $140.00 price target on shares of Micron Technology in a research note on Tuesday, December 17th. Finally, Citigroup lowered their price objective on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, Micron Technology currently has an average rating of “Moderate Buy” and a consensus price target of $135.24.

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.