Ritholtz Wealth Management Decreases Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Ritholtz Wealth Management cut its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 4.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,792 shares of the semiconductor manufacturer’s stock after selling 1,096 shares during the quarter. Ritholtz Wealth Management’s holdings in Micron Technology were worth $1,945,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of MU. Fortis Capital Advisors LLC purchased a new position in Micron Technology during the 4th quarter valued at about $25,000. OFI Invest Asset Management purchased a new position in shares of Micron Technology during the third quarter valued at approximately $27,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Micron Technology during the third quarter valued at approximately $28,000. Coppell Advisory Solutions LLC purchased a new stake in Micron Technology in the second quarter worth $32,000. Finally, VisionPoint Advisory Group LLC boosted its holdings in Micron Technology by 68.3% in the third quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock valued at $33,000 after acquiring an additional 198 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $80.44, for a total transaction of $563,080.00. Following the completion of the sale, the chief executive officer now directly owns 788,557 shares of the company’s stock, valued at $63,431,525.08. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last three months, insiders have sold 264,000 shares of company stock valued at $26,368,640. Insiders own 0.32% of the company’s stock.

Micron Technology Stock Performance

Shares of NASDAQ MU traded down $1.36 during trading on Thursday, reaching $117.89. 21,018,062 shares of the company traded hands, compared to its average volume of 18,961,887. The firm has a 50 day simple moving average of $91.35 and a 200-day simple moving average of $80.65. Micron Technology, Inc. has a 52-week low of $56.01 and a 52-week high of $122.46. The stock has a market capitalization of $130.55 billion, a PE ratio of -34.17 and a beta of 1.24. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.69. The company had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The firm’s quarterly revenue was up 57.7% on a year-over-year basis. During the same quarter last year, the company posted ($2.03) earnings per share. Equities research analysts anticipate that Micron Technology, Inc. will post 0.01 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st will be issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date is Thursday, March 28th. Micron Technology’s dividend payout ratio is -13.33%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on MU shares. Wedbush raised their target price on shares of Micron Technology from $103.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, March 21st. Deutsche Bank Aktiengesellschaft lifted their price objective on Micron Technology from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, December 21st. Fox Advisors raised Micron Technology from an “equal weight” rating to an “overweight” rating in a research report on Thursday, March 21st. Needham & Company LLC lifted their price target on Micron Technology from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Finally, Evercore ISI increased their price objective on Micron Technology from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, December 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $118.69.

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.