Micron Technology, Inc. (NASDAQ:MU) Shares Acquired by Integrated Advisors Network LLC

Integrated Advisors Network LLC raised its position in Micron Technology, Inc. (NASDAQ:MU) by 17.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 5,816 shares of the semiconductor manufacturer’s stock after acquiring an additional 882 shares during the period. Integrated Advisors Network LLC’s holdings in Micron Technology were worth $505,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Norges Bank purchased a new stake in Micron Technology during the 4th quarter worth $1,470,875,000. Capital World Investors raised its stake in shares of Micron Technology by 63.7% during the fourth quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer’s stock valued at $3,458,673,000 after purchasing an additional 15,993,036 shares in the last quarter. FMR LLC boosted its stake in Micron Technology by 34.6% during the 4th quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer’s stock valued at $4,012,114,000 after purchasing an additional 12,249,341 shares in the last quarter. Capital Research Global Investors lifted its stake in Micron Technology by 139.7% during the fourth quarter. Capital Research Global Investors now owns 16,281,620 shares of the semiconductor manufacturer’s stock valued at $1,370,280,000 after purchasing an additional 9,489,579 shares during the last quarter. Finally, Capital International Investors raised its holdings in Micron Technology by 36.3% during the 4th quarter. Capital International Investors now owns 16,437,080 shares of the semiconductor manufacturer’s stock worth $1,383,442,000 after buying an additional 4,375,232 shares during the period. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Stock Performance

MU stock opened at $115.60 on Friday. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $157.54. The firm has a market cap of $129.19 billion, a PE ratio of 33.31 and a beta of 1.28. The business has a 50 day moving average of $88.20 and a 200-day moving average of $92.60. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. The firm had revenue of $8.05 billion for the quarter, compared to analysts’ expectations of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business’s revenue for the quarter was up 38.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.42 EPS. As a group, sell-side analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology’s dividend payout ratio is presently 11.03%.

Insider Buying and Selling

In other Micron Technology news, EVP Scott J. Deboer sold 20,000 shares of the firm’s stock in a transaction on Friday, June 6th. The stock was sold at an average price of $110.00, for a total transaction of $2,200,000.00. Following the completion of the transaction, the executive vice president now owns 186,353 shares of the company’s stock, valued at approximately $20,498,830. This trade represents a 9.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $80.00, for a total transaction of $192,320.00. Following the completion of the sale, the director now owns 24,954 shares in the company, valued at approximately $1,996,320. This trade represents a 8.79% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,904 shares of company stock worth $4,665,124. Corporate insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

MU has been the subject of several recent research reports. Wedbush reissued an “underperform” rating on shares of Micron Technology in a research note on Monday, April 28th. Rosenblatt Securities lowered their target price on shares of Micron Technology from $250.00 to $200.00 and set a “buy” rating on the stock in a report on Friday, March 21st. UBS Group boosted their target price on shares of Micron Technology from $92.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, June 5th. China Renaissance lowered shares of Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 target price on the stock. in a research note on Wednesday, March 26th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $130.00 price target on shares of Micron Technology in a report on Friday, March 21st. Two research analysts have rated the stock with a sell rating, four have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $129.00.

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.