Stiles Financial Services Inc Lowers Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Stiles Financial Services Inc lowered its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 7.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,473 shares of the semiconductor manufacturer’s stock after selling 571 shares during the period. Stiles Financial Services Inc’s holdings in Micron Technology were worth $629,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kestra Private Wealth Services LLC raised its holdings in Micron Technology by 7.9% in the fourth quarter. Kestra Private Wealth Services LLC now owns 71,716 shares of the semiconductor manufacturer’s stock worth $6,036,000 after buying an additional 5,278 shares during the last quarter. Quotient Wealth Partners LLC increased its position in shares of Micron Technology by 6.5% during the fourth quarter. Quotient Wealth Partners LLC now owns 2,694 shares of the semiconductor manufacturer’s stock valued at $227,000 after acquiring an additional 165 shares in the last quarter. Empowered Funds LLC raised its holdings in Micron Technology by 13.2% in the 4th quarter. Empowered Funds LLC now owns 61,364 shares of the semiconductor manufacturer’s stock worth $5,164,000 after acquiring an additional 7,176 shares during the last quarter. Kingsview Wealth Management LLC lifted its position in Micron Technology by 7.3% in the 4th quarter. Kingsview Wealth Management LLC now owns 4,867 shares of the semiconductor manufacturer’s stock valued at $410,000 after acquiring an additional 330 shares in the last quarter. Finally, Apollon Wealth Management LLC boosted its stake in Micron Technology by 1.1% during the 4th quarter. Apollon Wealth Management LLC now owns 24,716 shares of the semiconductor manufacturer’s stock valued at $2,080,000 after purchasing an additional 271 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the transaction, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

MU has been the subject of several recent analyst reports. Piper Sandler decreased their price target on Micron Technology from $150.00 to $120.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. JPMorgan Chase & Co. decreased their target price on Micron Technology from $180.00 to $145.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. UBS Group dropped their price target on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. The Goldman Sachs Group decreased their price objective on shares of Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Finally, Robert W. Baird dropped their target price on shares of Micron Technology from $150.00 to $130.00 and set an “outperform” rating on the stock in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat, Micron Technology currently has an average rating of “Moderate Buy” and an average target price of $134.96.

Micron Technology Trading Down 2.4 %

Shares of MU stock opened at $92.30 on Monday. 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 stock has a fifty day simple moving average of $96.63 and a two-hundred day simple moving average of $99.04. The firm has a market capitalization of $102.84 billion, a PE ratio of 26.60 and a beta of 1.18. Micron Technology, Inc. has a 52-week low of $79.15 and a 52-week high of $157.54.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $8.71 billion. During the same quarter last year, the business posted ($0.95) earnings per share. The firm’s revenue was up 84.3% on a year-over-year basis. On average, analysts predict that Micron Technology, Inc. will post 6.29 EPS for the current fiscal year.

Micron Technology Announces Dividend

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

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.