Retirement Solution Inc. Invests $587,000 in Micron Technology, Inc. (NASDAQ:MU)

Retirement Solution Inc. acquired a new stake in Micron Technology, Inc. (NASDAQ:MU) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 6,879 shares of the semiconductor manufacturer’s stock, valued at approximately $587,000. Micron Technology comprises 0.2% of Retirement Solution Inc.’s portfolio, making the stock its 25th biggest position.

A number of other hedge funds have also made changes to their positions in MU. Sandy Spring Bank lifted its position in Micron Technology by 11.1% during the 4th quarter. Sandy Spring Bank now owns 1,305 shares of the semiconductor manufacturer’s stock worth $111,000 after acquiring an additional 130 shares during the period. HMS Capital Management LLC lifted its holdings in shares of Micron Technology by 0.7% in the 4th quarter. HMS Capital Management LLC now owns 19,842 shares of the semiconductor manufacturer’s stock valued at $1,693,000 after buying an additional 138 shares during the period. Huntington National Bank lifted its holdings in shares of Micron Technology by 6.0% in the 3rd quarter. Huntington National Bank now owns 2,652 shares of the semiconductor manufacturer’s stock valued at $180,000 after buying an additional 149 shares during the period. Allworth Financial LP lifted its holdings in shares of Micron Technology by 3.0% in the 4th quarter. Allworth Financial LP now owns 5,125 shares of the semiconductor manufacturer’s stock valued at $437,000 after buying an additional 150 shares during the period. Finally, Homestead Advisers Corp lifted its holdings in shares of Micron Technology by 12.5% in the 3rd quarter. Homestead Advisers Corp now owns 1,372 shares of the semiconductor manufacturer’s stock valued at $93,000 after buying an additional 152 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Transactions at Micron Technology

In related news, CEO Sanjay Mehrotra sold 45,000 shares of Micron Technology stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $90.00, for a total value of $4,050,000.00. Following the transaction, the chief executive officer now owns 788,557 shares in the company, valued at $70,970,130. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total value of $583,377.00. Following the transaction, the executive vice president now owns 148,817 shares in the company, valued at $17,753,868.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sanjay Mehrotra sold 45,000 shares of Micron Technology stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $90.00, for a total value of $4,050,000.00. Following the completion of the transaction, the chief executive officer now owns 788,557 shares in the company, valued at approximately $70,970,130. The disclosure for this sale can be found here. Insiders have sold 306,890 shares of company stock worth $33,005,157 over the last quarter. 0.32% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MU. Needham & Company LLC raised their price target on Micron Technology from $100.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Morgan Stanley raised their price target on Micron Technology from $78.00 to $98.00 and gave the company an “underweight” rating in a report on Thursday, March 21st. UBS Group raised their price objective on Micron Technology from $95.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. Wells Fargo & Company raised their price objective on Micron Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. Finally, KeyCorp raised their price objective on Micron Technology from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat, Micron Technology currently has an average rating of “Moderate Buy” and an average target price of $122.20.

Micron Technology Trading Down 0.6 %

Shares of MU stock traded down $0.68 during mid-day trading on Wednesday, hitting $111.78. 20,454,959 shares of the company’s stock were exchanged, compared to its average volume of 20,588,799. Micron Technology, Inc. has a fifty-two week low of $58.03 and a fifty-two week high of $130.54. The stock has a 50-day simple moving average of $104.64 and a two-hundred day simple moving average of $87.69. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30. The stock has a market cap of $123.78 billion, a price-to-earnings ratio of -32.40 and a beta of 1.27.

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

Micron Technology Dividend Announcement

The firm also recently disclosed 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 -13.33%.

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.