Avalon Trust Co Makes New Investment in Micron Technology, Inc. (NASDAQ:MU)

Avalon Trust Co bought a new position in shares of Micron Technology, Inc. (NASDAQ:MU) during the fourth quarter, HoldingsChannel reports. The firm bought 725 shares of the semiconductor manufacturer’s stock, valued at approximately $61,000.

Other large investors also recently bought and sold shares of the company. Beacon Capital Management LLC lifted its holdings in Micron Technology by 114.9% during the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after buying an additional 200 shares during the last quarter. True Wealth Design LLC raised its position in shares of Micron Technology by 1,096.3% during the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after purchasing an additional 296 shares during the period. Midwest Capital Advisors LLC acquired a new stake in shares of Micron Technology during the 4th quarter worth approximately $33,000. Stone House Investment Management LLC raised its position in shares of Micron Technology by 602.2% during the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 277 shares during the period. Finally, Activest Wealth Management raised its position in shares of Micron Technology by 583.3% during the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 350 shares during the period. Institutional investors own 80.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on MU. Morgan Stanley dropped their price target on Micron Technology from $98.00 to $91.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 28th. Cantor Fitzgerald dropped their price target on Micron Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Robert W. Baird lowered their target price on Micron Technology from $150.00 to $130.00 and set an “outperform” rating on the stock in a research report on Thursday, December 19th. Bank of America cut Micron Technology from a “buy” rating to a “neutral” rating and lowered their target price for the company from $125.00 to $110.00 in a research report on Thursday, December 19th. Finally, Piper Sandler lowered their target price on Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Micron Technology currently has an average rating of “Moderate Buy” and an average target price of $134.56.

Insider Activity

In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology 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 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total value of $223,403.72. Following the sale, the director now directly owns 27,358 shares of the company’s stock, valued at approximately $2,542,378.94. The trade was a 8.08 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by corporate insiders.

Micron Technology Stock Performance

Shares of NASDAQ MU opened at $100.79 on Friday. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $112.30 billion, a price-to-earnings ratio of 29.05 and a beta of 1.23. The stock’s fifty day simple moving average is $96.72 and its 200 day simple moving average is $98.05. Micron Technology, Inc. has a 52-week low of $83.54 and a 52-week high of $157.54.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. The business had revenue of $8.71 billion for 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 company’s quarterly revenue was up 84.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.95) EPS. As a group, sell-side analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s payout ratio is 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.