Mercer Global Advisors Inc. ADV Sells 16,335 Shares of Micron Technology, Inc. (NASDAQ:MU)

Mercer Global Advisors Inc. ADV reduced its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 6.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 257,240 shares of the semiconductor manufacturer’s stock after selling 16,335 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Micron Technology were worth $21,649,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Itau Unibanco Holding S.A. grew its position in Micron Technology by 4,056.0% during the fourth quarter. Itau Unibanco Holding S.A. now owns 14,255 shares of the semiconductor manufacturer’s stock valued at $1,216,000 after acquiring an additional 13,912 shares during the last quarter. Keel Point LLC boosted its stake in shares of Micron Technology by 62.2% in the 4th quarter. Keel Point LLC now owns 5,753 shares of the semiconductor manufacturer’s stock valued at $484,000 after purchasing an additional 2,207 shares in the last quarter. Westbourne Investments Inc. bought a new position in shares of Micron Technology during the 4th quarter valued at $226,000. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Micron Technology by 201.9% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 702,259 shares of the semiconductor manufacturer’s stock valued at $59,102,000 after purchasing an additional 469,669 shares during the last quarter. Finally, Rehmann Capital Advisory Group raised its position in Micron Technology by 10.5% in the 4th quarter. Rehmann Capital Advisory Group now owns 3,127 shares of the semiconductor manufacturer’s stock worth $263,000 after purchasing an additional 296 shares during the period. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, 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 value of $1,442,700.00. Following the sale, the executive vice president now owns 164,769 shares in the company, valued at approximately $15,847,482.42. This trade represents a 8.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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 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 of the company’s stock, valued at approximately $2,542,378.94. This represents a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

Micron Technology Stock Up 1.1 %

MU stock opened at $77.77 on Friday. The business has a 50 day moving average of $83.88 and a 200 day moving average of $94.16. The firm has a market cap of $86.91 billion, a PE ratio of 22.41 and a beta of 1.18. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $157.54. 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 earnings per share 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 during the quarter, compared to the consensus estimate of $7.93 billion. During the same period last year, the company earned $0.42 earnings per share. The company’s revenue was up 38.2% on a year-over-year basis. On average, research analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors 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 0.59%. The ex-dividend date was Monday, March 31st. Micron Technology’s dividend payout ratio (DPR) is currently 11.03%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on MU shares. Wells Fargo & Company restated an “equal weight” rating on shares of Micron Technology in a research report on Monday. Morgan Stanley increased their target price on Micron Technology from $91.00 to $112.00 and gave the company an “equal weight” rating in a report on Friday, March 21st. JPMorgan Chase & Co. decreased their price target on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Citigroup dropped their price objective on Micron Technology from $120.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Finally, UBS Group decreased their target price on shares of Micron Technology from $130.00 to $92.00 and set a “buy” rating on the stock in a research note on Monday. 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 assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $127.04.

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.