Micron Technology, Inc. (NASDAQ:MU) Position Raised by TrinityPoint Wealth LLC

TrinityPoint Wealth LLC raised its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 7.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 62,092 shares of the semiconductor manufacturer's stock after acquiring an additional 4,106 shares during the quarter. TrinityPoint Wealth LLC's holdings in Micron Technology were worth $5,226,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Beacon Capital Management LLC increased its stake in Micron Technology by 114.9% in the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock valued at $31,000 after purchasing an additional 200 shares during the last quarter. Midwest Capital Advisors LLC purchased a new position in shares of Micron Technology in the 4th quarter valued at $33,000. Activest Wealth Management raised its stake in Micron Technology by 583.3% during 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 stake in Micron Technology in the fourth quarter valued at $34,000. Finally, Curio Wealth LLC acquired a new position in Micron Technology in the fourth quarter valued at $34,000. Institutional investors and hedge funds own 80.84% of the company's stock.

Micron Technology Trading Up 3.8 %

MU stock traded up $2.95 during trading on Friday, reaching $80.72. 18,886,755 shares of the stock traded hands, compared to its average volume of 23,326,456. The business's 50 day moving average price is $83.63 and its 200-day moving average price is $93.90. The firm has a market capitalization of $90.21 billion, a PE ratio of 23.26 and a beta of 1.18. 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 52-week low of $61.54 and a 52-week high of $157.54.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. During the same quarter in the prior year, the company earned $0.42 EPS. The company's revenue was up 38.2% on a year-over-year basis. As a group, sell-side analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

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

Insider Activity

In related news, EVP April S. Arnzen sold 15,000 shares of the business's stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value of $1,442,700.00. Following the transaction, the executive vice president now owns 164,769 shares in the company, valued at approximately $15,847,482.42. The trade was a 8.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the sale, the director now directly owns 27,358 shares of the company's stock, valued at $2,542,378.94. The trade was a 8.08 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on MU shares. Wells Fargo & Company reiterated an "equal weight" rating on shares of Micron Technology in a research report on Monday. Robert W. Baird raised their price target on Micron Technology from $130.00 to $163.00 and gave the stock an "outperform" rating in a report on Friday, March 21st. Royal Bank of Canada set a $125.00 price objective on Micron Technology in a research note on Wednesday, March 19th. JPMorgan Chase & Co. lowered their target price on Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a research note on Friday, March 21st. Finally, KGI Securities upgraded Micron Technology to a "strong-buy" rating in a research note on Friday, February 21st. Two analysts have rated the stock with a sell rating, four have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $127.04.

About Micron Technology

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.