Circle Wealth Management LLC Lowers Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Circle Wealth Management LLC decreased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 31.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,543 shares of the semiconductor manufacturer's stock after selling 3,484 shares during the quarter. Circle Wealth Management LLC's holdings in Micron Technology were worth $635,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Beacon Capital Management LLC increased its stake in shares of Micron Technology by 114.9% during the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock valued at $31,000 after acquiring an additional 200 shares during the period. Midwest Capital Advisors LLC purchased a new position in Micron Technology during the 4th quarter worth approximately $33,000. Activest Wealth Management lifted its stake in Micron Technology by 583.3% in the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer's stock worth $34,000 after acquiring an additional 350 shares in the last quarter. Comprehensive Financial Planning Inc. PA purchased a new position in Micron Technology during the fourth quarter valued at approximately $34,000. Finally, Curio Wealth LLC acquired a new position in shares of Micron Technology in the fourth quarter worth $34,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $80.00, for a total value of $192,320.00. Following the completion of the sale, the director now owns 24,954 shares of the company's stock, valued at $1,996,320. The trade was a 8.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value 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 disclosure for this sale can be found here. Insiders have sold a total of 19,808 shares of company stock valued at $1,858,424 in the last 90 days. 0.30% of the stock is currently owned by insiders.

Micron Technology Stock Up 2.8 %

Shares of Micron Technology stock opened at $82.76 on Thursday. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $157.54. The company has a market cap of $92.49 billion, a P/E ratio of 23.85 and a beta of 1.21. The company's fifty day simple moving average is $82.84 and its two-hundred day simple moving average is $93.39. 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 (NASDAQ:MU - Get Free Report) last released its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.13. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.93 billion. During the same period last year, the business earned $0.42 EPS. Micron Technology's revenue was up 38.2% compared to the same quarter last year. Research analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date was Monday, March 31st. Micron Technology's dividend payout ratio (DPR) is 11.03%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. China Renaissance lowered Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 target price on the stock. in a report on Wednesday, March 26th. KGI Securities raised shares of Micron Technology to a "strong-buy" rating in a research report on Friday, February 21st. Wedbush reissued an "underperform" rating on shares of Micron Technology in a report on Monday, April 28th. Cantor Fitzgerald restated an "overweight" rating and issued a $130.00 price target on shares of Micron Technology in a research report on Friday, March 21st. Finally, Barclays dropped their price objective on shares of Micron Technology from $115.00 to $95.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $126.48.

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.

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