CIBC Private Wealth Group LLC increased its position in shares of Micron Technology, Inc. (NASDAQ:MU – Get Rating) by 103.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,324 shares of the semiconductor manufacturer’s stock after purchasing an additional 16,966 shares during the period. CIBC Private Wealth Group LLC’s holdings in Micron Technology were worth $1,666,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Elequin Securities LLC bought a new stake in shares of Micron Technology during the fourth quarter valued at approximately $30,000. GHP Investment Advisors Inc. acquired a new stake in Micron Technology in the 3rd quarter valued at $40,000. Tacita Capital Inc acquired a new stake in Micron Technology in the 3rd quarter valued at $50,000. Trust Co. of Vermont boosted its stake in Micron Technology by 30.6% in the 4th quarter. Trust Co. of Vermont now owns 1,068 shares of the semiconductor manufacturer’s stock valued at $53,000 after buying an additional 250 shares in the last quarter. Finally, Guardian Wealth Advisors LLC acquired a new stake in Micron Technology in the 3rd quarter valued at $76,000. 78.02% of the stock is currently owned by institutional investors.
Insider Transactions at Micron Technology
In other news, SVP Michael W. Bokan sold 20,000 shares of the company’s stock in a transaction dated Monday, April 10th. The stock was sold at an average price of $63.14, for a total transaction of $1,262,800.00. Following the completion of the transaction, the senior vice president now directly owns 175,086 shares of the company’s stock, valued at $11,054,930.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Michael W. Bokan sold 20,000 shares of the stock in a transaction that occurred on Monday, April 10th. The stock was sold at an average price of $63.14, for a total transaction of $1,262,800.00. Following the completion of the transaction, the senior vice president now directly owns 175,086 shares of the company’s stock, valued at $11,054,930.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard M. Beyer sold 4,000 shares of the stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $59.88, for a total value of $239,520.00. Following the transaction, the director now directly owns 95,660 shares of the company’s stock, valued at $5,728,120.80. The disclosure for this sale can be found here. Insiders sold 84,000 shares of company stock valued at $5,170,320 over the last three months. Company insiders own 0.32% of the company’s stock.
Wall Street Analyst Weigh In
Micron Technology Stock Up 0.1 %
Shares of Micron Technology stock opened at $69.17 on Monday. Micron Technology, Inc. has a 1 year low of $48.43 and a 1 year high of $74.77. The business has a 50-day moving average of $63.18 and a two-hundred day moving average of $59.04. The company has a market capitalization of $75.46 billion, a P/E ratio of 49.76 and a beta of 1.39. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.17 and a quick ratio of 2.62.
Micron Technology (NASDAQ:MU – Get Rating) last announced its quarterly earnings results on Tuesday, March 28th. The semiconductor manufacturer reported ($1.91) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($1.16). Micron Technology had a return on equity of 3.98% and a net margin of 6.99%. The business had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.71 billion. During the same quarter last year, the company earned $2.05 earnings per share. The firm’s revenue was down 52.6% compared to the same quarter last year. As a group, equities analysts predict that Micron Technology, Inc. will post -5.27 EPS for the current year.
Micron Technology Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 25th. Stockholders of record on Monday, April 10th were given a dividend of $0.115 per share. The ex-dividend date was Thursday, April 6th. This represents a $0.46 annualized dividend and a dividend yield of 0.67%. Micron Technology’s dividend payout ratio is currently 33.09%.
Micron Technology Profile
Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute & Networking Business Unit (CNBU), Mobile Business Unit (MBU), Storage Business Unit (SBU), and Embedded Business Unit (EBU). The CNBU segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.
Featured Stories
- Get a free copy of the StockNews.com research report on Micron Technology (MU)
- Will Nvidia Be the Lifeline Intel Desperately Needs?
- Is Li Auto Head and Shoulders Above Its Chinese Counterparts?
- MarketBeat Week in Review – 5/29 – 6/2
- Trading Channel Breakout in Lululemon Brought by Earnings
- What Should Investors Make of These 3 Dividend Cuts?
Want to see what other hedge funds are holding MU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Micron Technology, Inc. (NASDAQ:MU – Get Rating).
Receive News & Ratings for Micron Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Micron Technology and related companies with MarketBeat.com's FREE daily email newsletter.
