K.J. Harrison & Partners Inc Cuts Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

K.J. Harrison & Partners Inc lowered its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 33.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,000 shares of the semiconductor manufacturer’s stock after selling 5,000 shares during the period. K.J. Harrison & Partners Inc’s holdings in Micron Technology were worth $873,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC bought a new position in Micron Technology during the 3rd quarter valued at about $26,000. Stone House Investment Management LLC raised its holdings in shares of Micron Technology by 602.2% during the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 277 shares during the last quarter. True Wealth Design LLC lifted its position in Micron Technology by 1,096.3% during the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after purchasing an additional 296 shares during the period. Beacon Capital Management LLC lifted its position in Micron Technology by 114.9% during the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after purchasing an additional 200 shares during the period. Finally, Darwin Wealth Management LLC purchased a new stake in Micron Technology in the third quarter worth approximately $39,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Trading Up 4.8 %

Shares of MU stock opened at $97.71 on Thursday. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $108.87 billion, a price-to-earnings ratio of 28.16 and a beta of 1.18. Micron Technology, Inc. has a 12-month low of $83.54 and a 12-month high of $157.54. The stock’s 50-day moving average price is $95.59 and its 200-day moving average price is $98.92.

Micron Technology (NASDAQ:MU) last released 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 business had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm’s revenue for the quarter was up 84.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.95) EPS. Equities research analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s payout ratio is 13.26%.

Insider Buying and Selling at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the 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 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. TD Cowen lowered their price target on Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. UBS Group lowered their target price on Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Cantor Fitzgerald cut their price target on Micron Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. JPMorgan Chase & Co. reduced their price objective on Micron Technology from $180.00 to $145.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Finally, Barclays lowered their target price on Micron Technology from $145.00 to $110.00 and set an “overweight” rating on the stock in a research report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Micron Technology presently has a consensus rating of “Moderate Buy” and a consensus target price 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.