CreativeOne Wealth LLC Sells 1,708 Shares of Micron Technology, Inc. (NASDAQ:MU)

CreativeOne Wealth LLC lessened its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 30.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 3,971 shares of the semiconductor manufacturer’s stock after selling 1,708 shares during the quarter. CreativeOne Wealth LLC’s holdings in Micron Technology were worth $339,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of MU. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Micron Technology during the third quarter worth approximately $28,000. VisionPoint Advisory Group LLC grew its holdings in shares of Micron Technology by 68.3% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock worth $33,000 after purchasing an additional 198 shares in the last quarter. Cape Investment Advisory Inc. increased its position in shares of Micron Technology by 51.0% in the third quarter. Cape Investment Advisory Inc. now owns 592 shares of the semiconductor manufacturer’s stock worth $40,000 after purchasing an additional 200 shares during the period. Clear Street Markets LLC raised its stake in Micron Technology by 67.5% in the third quarter. Clear Street Markets LLC now owns 623 shares of the semiconductor manufacturer’s stock valued at $42,000 after purchasing an additional 251 shares in the last quarter. Finally, Bruce G. Allen Investments LLC bought a new stake in Micron Technology during the fourth quarter worth about $55,000. Institutional investors own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

MU has been the subject of several recent analyst reports. Argus upgraded Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 target price for the company in a research note on Thursday, March 21st. Barclays raised their price objective on Micron Technology from $120.00 to $145.00 and gave the company an “overweight” rating in a research note on Monday, May 13th. Cantor Fitzgerald increased their target price on shares of Micron Technology from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Robert W. Baird raised shares of Micron Technology from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $115.00 to $150.00 in a report on Monday, May 6th. Finally, Mizuho increased their price objective on shares of Micron Technology from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Two research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, Micron Technology has a consensus rating of “Moderate Buy” and an average target price of $126.92.

Micron Technology Stock Performance

Shares of MU stock traded up $3.22 during trading hours on Friday, hitting $129.49. 14,048,894 shares of the company were exchanged, compared to its average volume of 15,508,568. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $143.39 billion, a price-to-earnings ratio of -37.53 and a beta of 1.27. The firm has a fifty day simple moving average of $118.05 and a 200 day simple moving average of $95.52. Micron Technology, Inc. has a 52-week low of $60.50 and a 52-week high of $131.95.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.69. The company had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. Micron Technology’s revenue was up 57.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($2.03) EPS. Research analysts predict that Micron Technology, Inc. will post 0.29 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.46 annualized dividend and a yield of 0.36%. Micron Technology’s payout ratio is -13.33%.

Insider Activity

In other Micron Technology news, EVP Manish H. Bhatia sold 53,317 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $119.18, for a total transaction of $6,354,320.06. Following the completion of the transaction, the executive vice president now owns 319,119 shares of the company’s stock, valued at approximately $38,032,602.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Manish H. Bhatia sold 53,317 shares of Micron Technology stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $119.18, for a total transaction of $6,354,320.06. Following the completion of the transaction, the executive vice president now directly owns 319,119 shares of the company’s stock, valued at approximately $38,032,602.42. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sanjay Mehrotra sold 45,000 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $100.00, for a total transaction of $4,500,000.00. Following the completion of the sale, the chief executive officer now owns 773,557 shares in the company, valued at approximately $77,355,700. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 417,446 shares of company stock valued at $48,198,323. 0.32% of the stock is currently owned by company insiders.

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.