Choreo LLC Reduces Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Choreo LLC lessened its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 79.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,902 shares of the semiconductor manufacturer’s stock after selling 102,059 shares during the quarter. Choreo LLC’s holdings in Micron Technology were worth $2,287,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Stonebrook Private Inc. boosted its holdings in shares of Micron Technology by 4.2% in the third quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock worth $255,000 after buying an additional 98 shares during the last quarter. John G Ullman & Associates Inc. boosted its holdings in shares of Micron Technology by 2.5% in the third quarter. John G Ullman & Associates Inc. now owns 4,063 shares of the semiconductor manufacturer’s stock worth $421,000 after buying an additional 100 shares during the last quarter. Trivant Custom Portfolio Group LLC boosted its holdings in shares of Micron Technology by 20.0% in the fourth quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer’s stock worth $50,000 after buying an additional 100 shares during the last quarter. Trust Co. of Vermont boosted its holdings in shares of Micron Technology by 14.3% in the third quarter. Trust Co. of Vermont now owns 821 shares of the semiconductor manufacturer’s stock worth $85,000 after buying an additional 103 shares during the last quarter. Finally, PDS Planning Inc boosted its holdings in shares of Micron Technology by 2.4% in the third quarter. PDS Planning Inc now owns 4,382 shares of the semiconductor manufacturer’s stock worth $454,000 after buying an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Trading Up 1.0 %

Shares of MU stock opened at $94.54 on Friday. The stock’s 50-day moving average price is $96.82 and its 200-day moving average price is $99.34. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 12-month low of $79.15 and a 12-month high of $157.54. The stock has a market capitalization of $105.33 billion, a price-to-earnings ratio of 27.24 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share 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 company had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.71 billion. During the same period in the previous year, the firm posted ($0.95) earnings per share. The firm’s revenue for the quarter was up 84.3% on a year-over-year basis. Equities research analysts predict that Micron Technology, Inc. will post 6.29 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were paid a dividend of $0.115 per share. The ex-dividend date was Monday, December 30th. This represents a $0.46 annualized dividend and a yield of 0.49%. Micron Technology’s payout ratio is currently 13.26%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. UBS Group dropped their price objective 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. TD Cowen lowered 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. Cantor Fitzgerald lowered their price target on shares of Micron Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price target on shares of Micron Technology in a report on Wednesday, December 18th. Finally, Wedbush reaffirmed an “outperform” rating and set a $140.00 price target on shares of Micron Technology in a report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $134.96.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 181,223 shares in the company, 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 filing with the Securities & Exchange Commission, which is available at this link. 0.30% of the stock is currently owned by insiders.

Micron Technology 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.