Insigneo Advisory Services LLC Buys 739 Shares of Micron Technology, Inc. (NASDAQ:MU)

Insigneo Advisory Services LLC increased its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 6.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 12,513 shares of the semiconductor manufacturer’s stock after buying an additional 739 shares during the quarter. Insigneo Advisory Services LLC’s holdings in Micron Technology were worth $1,053,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. SOA Wealth Advisors LLC. grew its stake in shares of Micron Technology by 37.6% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 1,189 shares of the semiconductor manufacturer’s stock worth $123,000 after acquiring an additional 325 shares during the period. SkyView Investment Advisors LLC boosted its position in Micron Technology by 3.7% during the third quarter. SkyView Investment Advisors LLC now owns 6,696 shares of the semiconductor manufacturer’s stock worth $694,000 after purchasing an additional 241 shares during the period. Pine Valley Investments Ltd Liability Co increased its stake in shares of Micron Technology by 524.2% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 14,863 shares of the semiconductor manufacturer’s stock worth $1,541,000 after purchasing an additional 12,482 shares in the last quarter. World Investment Advisors LLC raised its position in shares of Micron Technology by 103.7% in the third quarter. World Investment Advisors LLC now owns 3,315 shares of the semiconductor manufacturer’s stock valued at $344,000 after purchasing an additional 1,688 shares during the period. Finally, Arvest Bank Trust Division purchased a new stake in shares of Micron Technology during the 3rd quarter valued at approximately $21,406,000. Institutional investors own 80.84% of the company’s stock.

Insider Activity

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value of $1,442,700.00. Following the completion of the transaction, the executive vice president now owns 164,769 shares in the company, valued at approximately $15,847,482.42. This represents a 8.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the sale, the director now owns 27,358 shares in the company, valued at approximately $2,542,378.94. This trade represents a 8.08 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Micron Technology Stock Down 2.4 %

NASDAQ MU opened at $69.33 on Thursday. The business’s 50-day moving average is $89.28 and its 200 day moving average is $96.38. The stock has a market capitalization of $77.48 billion, a PE ratio of 19.98 and a beta of 1.18. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $157.54.

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

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a $0.115 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.46 annualized dividend and a dividend yield of 0.66%. Micron Technology’s dividend payout ratio is 11.03%.

Analyst Upgrades and Downgrades

MU has been the topic of a number of analyst reports. The Goldman Sachs Group lowered their target price on shares of Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Bank of America cut Micron Technology from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $125.00 to $110.00 in a report on Thursday, December 19th. JPMorgan Chase & Co. cut their target price on Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research note on Friday, March 21st. UBS Group upped their price target on Micron Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, March 17th. Finally, Stifel Nicolaus cut their price objective on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Micron Technology has a consensus rating of “Moderate Buy” and a consensus target price of $129.36.

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.