Captrust Financial Advisors Grows Stake in Micron Technology, Inc. (NASDAQ:MU)

Captrust Financial Advisors grew its position in Micron Technology, Inc. (NASDAQ:MU) by 18.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,810 shares of the semiconductor manufacturer’s stock after buying an additional 6,306 shares during the quarter. Captrust Financial Advisors’ holdings in Micron Technology were worth $3,350,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Micron Technology by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer’s stock worth $8,403,982,000 after acquiring an additional 888,087 shares in the last quarter. FMR LLC boosted its stake in shares of Micron Technology by 34.6% during the fourth 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 World Investors increased its holdings in 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 buying an additional 15,993,036 shares during the period. Geode Capital Management LLC raised its stake in Micron Technology by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 24,449,827 shares of the semiconductor manufacturer’s stock worth $2,052,973,000 after buying an additional 726,282 shares in the last quarter. Finally, Norges Bank purchased a new stake in Micron Technology during the fourth quarter worth $1,470,875,000. Institutional investors own 80.84% of the company’s stock.

Insider Activity

In related news, EVP April S. Arnzen sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the transaction, the executive vice president now directly owns 164,769 shares of the company’s stock, valued at approximately $15,847,482.42. This trade represents a 8.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $80.00, for a total value of $192,320.00. Following the sale, the director now owns 24,954 shares of the company’s stock, valued at approximately $1,996,320. This trade represents a 8.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,808 shares of company stock worth $1,858,424 over the last three months. 0.30% of the stock is currently owned by corporate insiders.

Micron Technology Trading Up 0.8 %

Micron Technology stock opened at $85.86 on Friday. The firm has a market cap of $95.95 billion, a PE ratio of 24.74 and a beta of 1.21. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $157.54. The stock’s 50 day simple moving average is $82.62 and its two-hundred day simple moving average is $92.99. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28.

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

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.54%. The ex-dividend date was Monday, March 31st. Micron Technology’s payout ratio is currently 11.03%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. UBS Group dropped their price objective on Micron Technology from $130.00 to $92.00 and set a “buy” rating on the stock in a research report on Monday, April 28th. JPMorgan Chase & Co. lowered their price target on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a report on Friday, March 21st. Cantor Fitzgerald reiterated an “overweight” rating and set a $130.00 price objective on shares of Micron Technology in a research note on Friday, March 21st. Citigroup decreased their target price on shares of Micron Technology from $120.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Finally, Rosenblatt Securities cut their price target 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. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $126.48.

About Micron Technology

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.