StrategIQ Financial Group LLC Invests $210,000 in Micron Technology, Inc. (NASDAQ:MU)

StrategIQ Financial Group LLC purchased a new position in Micron Technology, Inc. (NASDAQ:MUGet Rating) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 2,253 shares of the semiconductor manufacturer’s stock, valued at approximately $210,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Lindbrook Capital LLC grew its position in Micron Technology by 7.2% in the 4th quarter. Lindbrook Capital LLC now owns 1,690 shares of the semiconductor manufacturer’s stock valued at $157,000 after acquiring an additional 114 shares during the last quarter. Trust Co. of Oklahoma grew its position in Micron Technology by 1.5% in the 4th quarter. Trust Co. of Oklahoma now owns 7,878 shares of the semiconductor manufacturer’s stock valued at $734,000 after acquiring an additional 120 shares during the last quarter. Hancock Whitney Corp grew its position in Micron Technology by 1.3% in the 4th quarter. Hancock Whitney Corp now owns 10,803 shares of the semiconductor manufacturer’s stock valued at $1,006,000 after acquiring an additional 134 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its position in Micron Technology by 1.2% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 11,029 shares of the semiconductor manufacturer’s stock valued at $1,027,000 after acquiring an additional 134 shares during the last quarter. Finally, Marcum Wealth LLC grew its position in Micron Technology by 4.3% in the 3rd quarter. Marcum Wealth LLC now owns 3,283 shares of the semiconductor manufacturer’s stock valued at $233,000 after acquiring an additional 135 shares during the last quarter. 76.07% of the stock is owned by hedge funds and other institutional investors.

In other Micron Technology news, SVP Robert P. Beard sold 266 shares of Micron Technology stock in a transaction dated Wednesday, February 16th. The stock was sold at an average price of $96.17, for a total transaction of $25,581.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP April S. Arnzen sold 5,600 shares of Micron Technology stock in a transaction dated Thursday, March 24th. The stock was sold at an average price of $76.00, for a total value of $425,600.00. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.

NASDAQ:MU opened at $70.13 on Monday. Micron Technology, Inc. has a 52 week low of $65.67 and a 52 week high of $98.45. The company has a quick ratio of 2.33, a current ratio of 3.11 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $78.31 billion, a P/E ratio of 8.82, a P/E/G ratio of 0.24 and a beta of 1.16. The stock’s fifty day moving average is $81.23 and its two-hundred day moving average is $81.24.

Micron Technology (NASDAQ:MUGet Rating) last issued its quarterly earnings data on Tuesday, March 29th. The semiconductor manufacturer reported $2.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.97 by $0.17. Micron Technology had a return on equity of 21.15% and a net margin of 28.95%. The business had revenue of $7.79 billion during the quarter, compared to analysts’ expectations of $7.53 billion. During the same period in the previous year, the firm posted $0.90 earnings per share. The company’s revenue was up 25.6% on a year-over-year basis. Sell-side analysts anticipate that Micron Technology, Inc. will post 9.15 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 26th. Investors of record on Monday, April 11th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, April 8th. This represents a $0.40 annualized dividend and a yield of 0.57%. Micron Technology’s payout ratio is 5.03%.

A number of equities analysts have recently issued reports on MU shares. BMO Capital Markets assumed coverage on Micron Technology in a research report on Tuesday, December 21st. They set a “buy” rating and a $115.00 price target on the stock. Susquehanna assumed coverage on Micron Technology in a research note on Wednesday, March 30th. They set a “buy” rating and a $125.00 price objective for the company. UBS Group upped their price objective on Micron Technology from $105.00 to $115.00 in a research note on Thursday, January 6th. JPMorgan Chase & Co. upped their price objective on Micron Technology from $100.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 21st. Finally, Sanford C. Bernstein upgraded Micron Technology from a “market perform” rating to an “outperform” rating and set a $94.00 price objective for the company in a research note on Wednesday, March 16th. Four research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $113.32.

About Micron Technology (Get Rating)

Micron Technology, Inc designs, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It provides memory and storage technologies comprises DRAM products, which are dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; NAND products that are non-volatile and re-writeable semiconductor storage devices; and NOR memory products, which are non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.

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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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