Alterna Wealth Management Inc. Acquires 935 Shares of Micron Technology, Inc. (NASDAQ:MU)

Alterna Wealth Management Inc. lifted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 31.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 3,897 shares of the semiconductor manufacturer’s stock after buying an additional 935 shares during the quarter. Alterna Wealth Management Inc.’s holdings in Micron Technology were worth $328,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp raised its stake in Micron Technology by 3.1% in 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 in the last quarter. Primecap Management Co. CA raised its position in shares of Micron Technology by 0.6% in the 3rd quarter. Primecap Management Co. CA now owns 37,631,860 shares of the semiconductor manufacturer’s stock worth $3,902,800,000 after acquiring an additional 206,499 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Micron Technology by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 23,723,545 shares of the semiconductor manufacturer’s stock worth $2,451,987,000 after purchasing an additional 892,607 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted 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 valued at $1,174,643,000 after purchasing an additional 2,022,180 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in Micron Technology by 30.6% in the third quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock valued at $1,109,769,000 after purchasing an additional 2,477,985 shares during the last quarter. 80.84% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred 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 sale, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at $15,442,011.83. The trade was a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.30% of the stock is currently owned by company insiders.

Micron Technology Stock Down 1.4 %

MU stock opened at $91.24 on Monday. The firm’s fifty day moving average is $97.43 and its 200 day moving average is $99.88. The firm has a market cap of $101.66 billion, a PE ratio of 26.29 and a beta of 1.18. Micron Technology, Inc. has a one year low of $79.15 and a one year high of $157.54. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.19. The firm had revenue of $8.71 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.95) EPS. On average, research analysts forecast that Micron Technology, Inc. will post 6.29 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s payout ratio is presently 13.26%.

Analysts Set New Price Targets

MU has been the topic of a number of recent analyst reports. The Goldman Sachs Group lowered their price target on shares of Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Bank of America lowered shares of Micron Technology from a “buy” rating to a “neutral” rating and cut their price target for the stock from $125.00 to $110.00 in a report on Thursday, December 19th. Wedbush reiterated an “outperform” rating and set a $140.00 price objective on shares of Micron Technology in a report on Tuesday, December 17th. China Renaissance assumed coverage on Micron Technology in a research note on Monday, October 28th. They set a “buy” rating and a $148.00 target price on the stock. Finally, Stifel Nicolaus lowered their price target on Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $134.96.

About Micron Technology

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.