Yousif Capital Management LLC Boosts Holdings in Micron Technology, Inc. (NASDAQ:MU)

Yousif Capital Management LLC raised its holdings in shares of Micron Technology, Inc. (NASDAQ:MU – Get Rating) by 2.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 182,746 shares of the semiconductor manufacturer’s stock after acquiring an additional 4,831 shares during the quarter. Yousif Capital Management LLC’s holdings in Micron Technology were worth $9,134,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sei Investments Co. grew its holdings in Micron Technology by 12.8% in the first quarter. Sei Investments Co. now owns 350,644 shares of the semiconductor manufacturer’s stock valued at $27,314,000 after purchasing an additional 39,693 shares during the period. Prudential PLC purchased a new stake in Micron Technology in the first quarter valued at approximately $1,672,000. Brighton Jones LLC grew its holdings in Micron Technology by 12.3% in the first quarter. Brighton Jones LLC now owns 2,909 shares of the semiconductor manufacturer’s stock valued at $227,000 after purchasing an additional 318 shares during the period. Baird Financial Group Inc. grew its holdings in Micron Technology by 9.2% in the first quarter. Baird Financial Group Inc. now owns 200,423 shares of the semiconductor manufacturer’s stock valued at $15,611,000 after purchasing an additional 16,953 shares during the period. Finally, Zions Bancorporation N.A. grew its holdings in Micron Technology by 52.5% in the first quarter. Zions Bancorporation N.A. now owns 2,121 shares of the semiconductor manufacturer’s stock valued at $165,000 after purchasing an additional 730 shares during the period. 78.02% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Price Performance

Shares of MU opened at $56.66 on Friday. Micron Technology, Inc. has a twelve month low of $48.43 and a twelve month high of $86.24. The firm has a market cap of $61.83 billion, a PE ratio of 10.28 and a beta of 1.39. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.23 and a current ratio of 3.51. The firm’s 50 day moving average price is $58.60 and its 200 day moving average price is $55.78.

Micron Technology (NASDAQ:MU – Get Rating) last released its quarterly earnings results on Wednesday, December 21st. The semiconductor manufacturer reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). Micron Technology had a net margin of 22.78% and a return on equity of 13.26%. The firm had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.14 billion. During the same period in the prior year, the business earned $2.07 EPS. The company’s revenue for the quarter was down 46.9% compared to the same quarter last year. As a group, research analysts expect that Micron Technology, Inc. will post -2.71 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 19th. Shareholders of record on Tuesday, January 3rd were paid a dividend of $0.115 per share. The ex-dividend date was Friday, December 30th. This represents a $0.46 dividend on an annualized basis and a yield of 0.81%. Micron Technology’s dividend payout ratio is currently 8.35%.

Insiders Place Their Bets

In other Micron Technology news, EVP Scott J. Deboer sold 20,000 shares of Micron Technology stock in a transaction on Thursday, January 26th. The shares were sold at an average price of $62.23, for a total transaction of $1,244,600.00. Following the sale, the executive vice president now owns 248,340 shares in the company, valued at $15,454,198.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Scott J. Deboer sold 20,000 shares of the business’s stock in a transaction on Thursday, January 26th. The shares were sold at an average price of $62.23, for a total value of $1,244,600.00. Following the sale, the executive vice president now owns 248,340 shares in the company, valued at approximately $15,454,198.20. 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 24,000 shares of the business’s stock in a transaction on Monday, January 30th. The shares were sold at an average price of $61.91, for a total transaction of $1,485,840.00. Following the completion of the sale, the senior vice president now owns 118,885 shares in the company, valued at approximately $7,360,170.35. The disclosure for this sale can be found here. Insiders have sold 67,000 shares of company stock worth $3,982,190 over the last 90 days. Corporate insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on MU. Cowen reduced their price target on shares of Micron Technology from $70.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday, December 22nd. Mizuho raised shares of Micron Technology from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $48.00 to $72.00 in a research report on Friday, February 10th. Argus downgraded shares of Micron Technology from a “buy” rating to a “hold” rating in a research note on Friday, December 30th. Morgan Stanley decreased their target price on shares of Micron Technology from $49.00 to $46.00 and set an “underweight” rating for the company in a research note on Thursday, December 22nd. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Micron Technology from a “buy” rating to a “hold” rating and reduced their price objective for the company from $60.00 to $55.00 in a research note on Monday, December 12th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat, Micron Technology presently has an average rating of “Moderate Buy” and an average target price of $66.26.

About Micron Technology

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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.