Advisory Services Network LLC Boosts Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Advisory Services Network LLC grew its holdings in Micron Technology, Inc. (NASDAQ:MU) by 14.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 69,901 shares of the semiconductor manufacturer’s stock after purchasing an additional 8,830 shares during the quarter. Advisory Services Network LLC’s holdings in Micron Technology were worth $5,883,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MU. Beacon Capital Management LLC boosted its position in shares of Micron Technology by 114.9% in the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after purchasing an additional 200 shares in the last quarter. Midwest Capital Advisors LLC purchased a new position in Micron Technology during the 4th quarter worth approximately $33,000. Activest Wealth Management lifted its position in Micron Technology by 583.3% during the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 350 shares during the period. Comprehensive Financial Planning Inc. PA acquired a new position in shares of Micron Technology in the 4th quarter valued at about $34,000. Finally, Curio Wealth LLC purchased a new stake in Micron Technology in the 4th quarter worth approximately $34,000. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Stock Performance

NASDAQ:MU opened at $65.54 on Wednesday. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $157.54. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The company has a 50 day moving average price of $92.04 and a 200 day moving average price of $97.69. The stock has a market capitalization of $73.25 billion, a P/E ratio of 18.89 and a beta of 1.18.

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

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend is Monday, March 31st. Micron Technology’s dividend payout ratio (DPR) is currently 11.03%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Wedbush reissued an “outperform” rating and set a $125.00 target price on shares of Micron Technology in a research note on Monday, March 17th. JPMorgan Chase & Co. reduced their price objective 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. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $130.00 target price on shares of Micron Technology in a research note on Friday, March 21st. UBS Group upped their target price on shares of Micron Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, March 17th. Finally, TD Cowen decreased their price target on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Micron Technology currently has a consensus rating of “Moderate Buy” and an average price target of $129.76.

Insider Buying and Selling

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

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.