Trivant Custom Portfolio Group LLC Acquires 100 Shares of Micron Technology, Inc. (NASDAQ:MU)

Trivant Custom Portfolio Group LLC grew its holdings in Micron Technology, Inc. (NASDAQ:MU) by 20.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 600 shares of the semiconductor manufacturer’s stock after acquiring an additional 100 shares during the period. Trivant Custom Portfolio Group LLC’s holdings in Micron Technology were worth $50,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ProVise Management Group LLC bought a new position in Micron Technology in the second quarter valued at about $236,000. Intech Investment Management LLC lifted its holdings in Micron Technology by 111.3% in the second quarter. Intech Investment Management LLC now owns 93,026 shares of the semiconductor manufacturer’s stock valued at $12,236,000 after buying an additional 49,001 shares during the period. LHM Inc. grew its holdings in Micron Technology by 38.5% during the 2nd quarter. LHM Inc. now owns 77,242 shares of the semiconductor manufacturer’s stock worth $10,160,000 after acquiring an additional 21,478 shares during the period. Ieq Capital LLC raised its position in shares of Micron Technology by 10.8% during the 2nd quarter. Ieq Capital LLC now owns 56,017 shares of the semiconductor manufacturer’s stock valued at $7,368,000 after acquiring an additional 5,473 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in shares of Micron Technology by 17.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,163 shares of the semiconductor manufacturer’s stock valued at $547,000 after purchasing an additional 618 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Susquehanna dropped their price objective on Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a report on Thursday, September 26th. Cantor Fitzgerald cut their price target on shares of 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 decreased their price objective on shares of Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. Needham & Company LLC dropped their price objective on Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Finally, Mizuho lowered their price target on Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $135.24.

Micron Technology Stock Up 3.1 %

NASDAQ MU opened at $105.75 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. Micron Technology, Inc. has a fifty-two week low of $79.15 and a fifty-two week high of $157.54. The stock has a market capitalization of $117.82 billion, a PE ratio of 30.48 and a beta of 1.18. The business has a fifty day moving average price of $98.00 and a two-hundred day moving average price of $102.66.

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, beating analysts’ consensus estimates of $1.60 by $0.19. The firm 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 business’s revenue for the quarter was up 84.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.95) earnings per share. Equities analysts expect that Micron Technology, Inc. will post 6.25 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.43%. The ex-dividend date was Monday, December 30th. Micron Technology’s payout ratio is 13.26%.

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 181,223 shares in the company, valued at approximately $15,442,011.83. The trade was a 2.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.30% of the company’s stock.

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.