Visionary Wealth Advisors Decreases Stake in Micron Technology, Inc. (NASDAQ:MU)

Visionary Wealth Advisors lessened its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 2.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,189 shares of the semiconductor manufacturer’s stock after selling 216 shares during the period. Visionary Wealth Advisors’ holdings in Micron Technology were worth $689,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. E Fund Management Co. Ltd. grew its holdings in shares of Micron Technology by 31.8% in the 4th quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer’s stock worth $3,062,000 after acquiring an additional 8,780 shares during the period. CIBC Private Wealth Group LLC grew its holdings in Micron Technology by 43.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 14,178 shares of the semiconductor manufacturer’s stock valued at $1,193,000 after purchasing an additional 4,264 shares during the last quarter. Stablepoint Partners LLC purchased a new position in shares of Micron Technology in the fourth quarter valued at $569,000. Landscape Capital Management L.L.C. raised its stake in shares of Micron Technology by 167.0% during the 4th quarter. Landscape Capital Management L.L.C. now owns 45,758 shares of the semiconductor manufacturer’s stock worth $3,851,000 after buying an additional 28,621 shares during the last quarter. Finally, Duquesne Family Office LLC acquired a new position in shares of Micron Technology during the 4th quarter worth $34,412,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MU. Rosenblatt Securities lowered their price objective on shares of Micron Technology from $250.00 to $200.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Wedbush reiterated an “underperform” rating on shares of Micron Technology in a research report on Monday, April 28th. Wells Fargo & Company restated an “equal weight” rating on shares of Micron Technology in a research report on Monday, April 28th. KGI Securities raised Micron Technology to a “strong-buy” rating in a research note on Friday, February 21st. Finally, Royal Bank of Canada set a $125.00 price target on Micron Technology in a research report on Wednesday, March 19th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Micron Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $126.48.

Micron Technology Price Performance

MU stock opened at $98.10 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $157.54. The stock has a 50-day simple moving average of $83.25 and a 200-day simple moving average of $92.59. The firm has a market cap of $109.63 billion, a P/E ratio of 28.27 and a beta of 1.21.

Micron Technology (NASDAQ:MU) last announced its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.13. The business had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business’s quarterly revenue was up 38.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.42 earnings per share. On average, equities analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a dividend of $0.115 per share. The ex-dividend date was Monday, March 31st. This represents a $0.46 annualized dividend and a dividend yield of 0.47%. Micron Technology’s dividend payout ratio is presently 11.03%.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the completion of the transaction, the executive vice president now directly owns 164,769 shares in the company, valued at approximately $15,847,482.42. This represents a 8.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction that occurred 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 transaction, the director now owns 27,358 shares of the company’s stock, valued at approximately $2,542,378.94. This trade represents a 8.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,808 shares of company stock valued at $1,858,424. 0.30% of the stock is currently owned by insiders.

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.