Element Pointe Advisors LLC Invests $267,000 in Micron Technology, Inc. (NASDAQ:MU)

Element Pointe Advisors LLC purchased a new position in Micron Technology, Inc. (NASDAQ:MU - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 3,177 shares of the semiconductor manufacturer's stock, valued at approximately $267,000.

Several other large investors also recently bought and sold shares of MU. Beacon Capital Management LLC grew its holdings in Micron Technology by 114.9% during the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock worth $31,000 after acquiring an additional 200 shares in the last quarter. Midwest Capital Advisors LLC acquired a new position in Micron Technology in the fourth quarter worth about $33,000. Activest Wealth Management increased its holdings in Micron Technology by 583.3% in the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer's stock valued at $34,000 after buying an additional 350 shares during the last quarter. Comprehensive Financial Planning Inc. PA acquired a new stake in Micron Technology during the fourth quarter valued at approximately $34,000. Finally, Curio Wealth LLC bought a new position in Micron Technology during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 80.84% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MU. China Renaissance cut Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price objective on the stock. in a research note on Wednesday, March 26th. Rosenblatt Securities decreased their price target on shares of Micron Technology from $250.00 to $200.00 and set a "buy" rating for the company in a report on Friday, March 21st. JPMorgan Chase & Co. lowered their target price on Micron Technology from $145.00 to $135.00 and set an "overweight" rating for the company in a report on Friday, March 21st. UBS Group reduced their price objective on Micron Technology from $130.00 to $92.00 and set a "buy" rating for the company in a research report on Monday, April 28th. Finally, Wedbush reaffirmed an "underperform" rating on shares of Micron Technology in a research report on Monday, April 28th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Micron Technology has an average rating of "Moderate Buy" and an average price target of $127.04.

Micron Technology Price Performance

MU opened at $80.60 on Wednesday. The stock has a fifty day moving average price of $83.06 and a 200 day moving average price of $93.46. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $157.54. The stock has a market cap of $90.08 billion, a price-to-earnings ratio of 23.23 and a beta of 1.21. 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 announced its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping the consensus estimate of $1.43 by $0.13. The company had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. Micron Technology's quarterly revenue was up 38.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.42 EPS. Analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date was Monday, March 31st. Micron Technology's dividend payout ratio (DPR) is currently 11.03%.

Insider Activity at Micron Technology

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $80.00, for a total transaction of $192,320.00. Following the sale, the director now directly owns 24,954 shares of the company's stock, valued at approximately $1,996,320. The trade was a 8.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP April S. Arnzen sold 15,000 shares of the business's stock in a transaction on 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 sale, 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 sold a total of 19,808 shares of company stock worth $1,858,424 in the last ninety days. 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.

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