Bleakley Financial Group LLC Acquires 3,268 Shares of Micron Technology, Inc. (NASDAQ:MU)

Bleakley Financial Group LLC boosted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 6.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 50,887 shares of the semiconductor manufacturer’s stock after acquiring an additional 3,268 shares during the period. Bleakley Financial Group LLC’s holdings in Micron Technology were worth $4,283,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of MU. Deltec Asset Management LLC raised its stake in Micron Technology by 135.0% in the fourth quarter. Deltec Asset Management LLC now owns 70,752 shares of the semiconductor manufacturer’s stock valued at $5,954,000 after purchasing an additional 40,650 shares in the last quarter. Confluence Wealth Services Inc. raised its stake in Micron Technology by 81.2% in the fourth quarter. Confluence Wealth Services Inc. now owns 3,704 shares of the semiconductor manufacturer’s stock valued at $312,000 after purchasing an additional 1,660 shares in the last quarter. Stratos Wealth Advisors LLC raised its stake in Micron Technology by 2.5% in the fourth quarter. Stratos Wealth Advisors LLC now owns 8,208 shares of the semiconductor manufacturer’s stock valued at $691,000 after purchasing an additional 204 shares in the last quarter. Avitas Wealth Management LLC raised its stake in Micron Technology by 0.6% in the fourth quarter. Avitas Wealth Management LLC now owns 24,553 shares of the semiconductor manufacturer’s stock valued at $2,066,000 after purchasing an additional 137 shares in the last quarter. Finally, Greenwood Capital Associates LLC raised its stake in Micron Technology by 21.4% in the fourth quarter. Greenwood Capital Associates LLC now owns 59,845 shares of the semiconductor manufacturer’s stock valued at $5,037,000 after purchasing an additional 10,566 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on Friday, December 20th. The stock was 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 owns 181,223 shares in the company, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. TD Cowen dropped their price target on Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 target price on shares of Micron Technology in a research report on Wednesday, December 18th. Mizuho decreased their target price on Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, December 19th. Wedbush reiterated an “outperform” rating and issued a $140.00 target price on shares of Micron Technology in a research report on Tuesday, December 17th. Finally, JPMorgan Chase & Co. decreased their target price on Micron Technology from $180.00 to $145.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $134.96.

Micron Technology Price Performance

Shares of MU opened at $94.54 on Friday. Micron Technology, Inc. has a 52-week low of $79.15 and a 52-week 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. The business’s 50 day moving average price is $96.82 and its two-hundred day moving average price is $99.34. The firm has a market cap of $105.33 billion, a PE ratio of 27.24 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. During the same period in the previous year, the firm earned ($0.95) earnings per share. The company’s revenue was up 84.3% compared to the same quarter last year. On average, equities analysts anticipate that Micron Technology, Inc. will post 6.29 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Monday, December 30th. 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.