Cerity Partners LLC Has $2.62 Million Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Cerity Partners LLC increased its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 148.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,690 shares of the semiconductor manufacturer’s stock after purchasing an additional 18,316 shares during the quarter. Cerity Partners LLC’s holdings in Micron Technology were worth $2,619,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in MU. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Micron Technology in the 3rd quarter valued at about $28,000. OFI Invest Asset Management acquired a new stake in Micron Technology in the 3rd quarter valued at about $27,000. VisionPoint Advisory Group LLC increased its position in Micron Technology by 68.3% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock valued at $33,000 after acquiring an additional 198 shares in the last quarter. Coppell Advisory Solutions LLC acquired a new stake in Micron Technology in the 2nd quarter valued at about $32,000. Finally, Fortis Capital Advisors LLC acquired a new stake in Micron Technology in the 4th quarter valued at about $25,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Down 3.8 %

MU stock opened at $111.93 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. The stock has a market capitalization of $123.95 billion, a price-to-earnings ratio of -32.44 and a beta of 1.27. The business’s fifty day moving average price is $102.53 and its two-hundred day moving average price is $86.40. Micron Technology, Inc. has a fifty-two week low of $58.03 and a fifty-two week high of $130.54.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.69. The firm had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.35 billion. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The company’s quarterly revenue was up 57.7% compared to the same quarter last year. During the same quarter last year, the business earned ($2.03) EPS. On average, equities analysts anticipate that Micron Technology, Inc. will post 0.24 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.41%. The ex-dividend date was Thursday, March 28th. Micron Technology’s dividend payout ratio (DPR) is currently -13.33%.

Wall Street Analyst Weigh In

Several research firms have weighed in on MU. Citigroup restated a “buy” rating and issued a $150.00 price objective on shares of Micron Technology in a research report on Thursday, April 4th. Cantor Fitzgerald boosted their price objective on Micron Technology from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Piper Sandler boosted their price objective on Micron Technology from $95.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. Wells Fargo & Company boosted their price objective on Micron Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. Finally, Barclays boosted their price objective on Micron Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a research report on Monday, March 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $122.20.

Insider Transactions at Micron Technology

In other news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $120.70, for a total transaction of $844,900.00. Following the sale, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at approximately $86,789,214.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total value of $583,377.00. Following the sale, the executive vice president now directly owns 148,817 shares of the company’s stock, valued at $17,753,868.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $120.70, for a total value of $844,900.00. Following the completion of the sale, the chief executive officer now directly owns 719,049 shares in the company, valued at $86,789,214.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 313,890 shares of company stock valued at $33,617,027. 0.32% of the stock is owned by corporate 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.