Micron Technology, Inc. (NASDAQ:MU) Holdings Raised by CVA Family Office LLC

CVA Family Office LLC grew its stake in shares of Micron Technology, Inc. (NASDAQ:MU – Get Rating) by 881.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,570 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,410 shares during the quarter. CVA Family Office LLC’s holdings in Micron Technology were worth $79,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Stonebridge Capital Advisors LLC increased its holdings in Micron Technology by 6.6% during the 1st quarter. Stonebridge Capital Advisors LLC now owns 2,695 shares of the semiconductor manufacturer’s stock valued at $210,000 after purchasing an additional 168 shares in the last quarter. Orion Portfolio Solutions LLC increased its holdings in Micron Technology by 4.0% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 4,703 shares of the semiconductor manufacturer’s stock valued at $236,000 after purchasing an additional 181 shares in the last quarter. Evergreen Capital Management LLC increased its holdings in Micron Technology by 3.5% during the 1st quarter. Evergreen Capital Management LLC now owns 5,682 shares of the semiconductor manufacturer’s stock valued at $443,000 after purchasing an additional 191 shares in the last quarter. Beta Wealth Group Inc. increased its holdings in Micron Technology by 4.4% during the 3rd quarter. Beta Wealth Group Inc. now owns 4,700 shares of the semiconductor manufacturer’s stock valued at $235,000 after purchasing an additional 200 shares in the last quarter. Finally, Certified Advisory Corp increased its holdings in Micron Technology by 1.8% during the 1st quarter. Certified Advisory Corp now owns 11,520 shares of the semiconductor manufacturer’s stock valued at $897,000 after purchasing an additional 203 shares in the last quarter. 78.02% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on MU. Raymond James began coverage on Micron Technology in a report on Wednesday, March 1st. They set an “outperform” rating and a $70.00 price target for the company. Stifel Nicolaus lowered their target price on Micron Technology from $54.00 to $52.00 and set a “hold” rating for the company in a research note on Thursday, December 22nd. Morgan Stanley lowered their target price on Micron Technology from $49.00 to $46.00 and set an “underweight” rating for the company in a research note on Thursday, December 22nd. Wells Fargo & Company lowered their target price on Micron Technology from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Wednesday, December 7th. Finally, UBS Group lowered their target price on Micron Technology from $75.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, December 22nd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-two have given a buy rating to the company’s stock. Based on data from MarketBeat, Micron Technology presently has an average rating of “Moderate Buy” and a consensus target price of $66.26.

Micron Technology Stock Performance

Shares of Micron Technology stock opened at $56.57 on Friday. The firm has a market cap of $61.73 billion, a price-to-earnings ratio of 10.27 and a beta of 1.39. The stock’s 50-day moving average is $58.60 and its 200-day moving average is $55.78. Micron Technology, Inc. has a one year low of $48.43 and a one year high of $86.24. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.51 and a quick ratio of 2.23.

Micron Technology (NASDAQ:MU – Get Rating) last issued its quarterly earnings results on Wednesday, December 21st. The semiconductor manufacturer reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). The firm had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.14 billion. Micron Technology had a net margin of 22.78% and a return on equity of 13.26%. The business’s revenue for the quarter was down 46.9% on a year-over-year basis. During the same quarter last year, the firm earned $2.07 earnings per share. Equities analysts predict that Micron Technology, Inc. will post -2.71 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 19th. Stockholders of record on Tuesday, January 3rd were issued a $0.115 dividend. The ex-dividend date of this dividend was Friday, December 30th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.81%. Micron Technology’s dividend payout ratio (DPR) is 8.35%.

Insider Activity

In related news, SVP April S. Arnzen sold 24,000 shares of the company’s stock in a transaction dated Monday, January 30th. The stock was sold at an average price of $61.91, for a total transaction of $1,485,840.00. Following the sale, the senior vice president now owns 118,885 shares in the company, valued at $7,360,170.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP April S. Arnzen sold 24,000 shares of the company’s stock in a transaction dated Monday, January 30th. The stock was sold at an average price of $61.91, for a total transaction of $1,485,840.00. Following the sale, the senior vice president now owns 118,885 shares in the company, valued at $7,360,170.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Scott J. Deboer sold 20,000 shares of the company’s stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $53.40, for a total value of $1,068,000.00. Following the sale, the executive vice president now owns 228,340 shares in the company, valued at approximately $12,193,356. The disclosure for this sale can be found here. Insiders have sold a total of 67,000 shares of company stock worth $3,982,190 over the last three months. Corporate insiders own 0.32% of the company’s stock.

About Micron Technology

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Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute & Networking Business Unit (CNBU), Mobile Business Unit (MBU), Storage Business Unit (SBU), and Embedded Business Unit (EBU). The CNBU segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.