Occidental Asset Management LLC Boosts Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Occidental Asset Management LLC lifted its holdings in Micron Technology, Inc. (NASDAQ:MU) by 4.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,118 shares of the semiconductor manufacturer’s stock after purchasing an additional 158 shares during the quarter. Occidental Asset Management LLC’s holdings in Micron Technology were worth $347,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Empirical Asset Management LLC bought a new stake in Micron Technology in the fourth quarter worth about $4,394,000. Eagle Rock Investment Company LLC increased its position in Micron Technology by 0.6% during the 4th quarter. Eagle Rock Investment Company LLC now owns 64,467 shares of the semiconductor manufacturer’s stock valued at $5,426,000 after purchasing an additional 365 shares during the period. Gateway Investment Advisers LLC raised its stake in Micron Technology by 10.5% in the fourth quarter. Gateway Investment Advisers LLC now owns 64,052 shares of the semiconductor manufacturer’s stock worth $5,391,000 after buying an additional 6,085 shares in the last quarter. Beech Hill Advisors Inc. purchased a new stake in shares of Micron Technology during the 4th quarter worth $582,000. Finally, Mirador Capital Partners LP boosted its holdings in shares of Micron Technology by 12.2% in the 4th quarter. Mirador Capital Partners LP now owns 5,215 shares of the semiconductor manufacturer’s stock valued at $439,000 after buying an additional 569 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the sale, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley dropped their price objective on shares of Micron Technology from $114.00 to $98.00 and set an “equal weight” rating on the stock in a report on Thursday, December 19th. Barclays lowered their target price on shares of Micron Technology from $145.00 to $110.00 and set an “overweight” rating on the stock in a research note on Friday, December 20th. Cantor Fitzgerald reduced their price objective on shares of Micron Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Wells Fargo & Company lowered their price target on Micron Technology from $175.00 to $140.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Finally, UBS Group decreased their price objective on Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $135.24.

Micron Technology Stock Performance

Shares of Micron Technology stock opened at $102.60 on Friday. The business has a 50-day simple moving average of $98.21 and a 200-day simple moving average of $102.66. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. Micron Technology, Inc. has a one year low of $79.15 and a one year high of $157.54. The company has a market cap of $114.31 billion, a PE ratio of 29.57 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, topping the consensus estimate of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.71 billion. During the same quarter in the previous year, the business posted ($0.95) EPS. The firm’s revenue was up 84.3% on a year-over-year basis. On average, equities research analysts forecast that Micron Technology, Inc. will post 6.25 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date was Monday, December 30th. Micron Technology’s dividend payout ratio is presently 13.26%.

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.