Stifel Financial Corp Grows Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Stifel Financial Corp lifted its position in Micron Technology, Inc. (NASDAQ:MU) by 28.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 366,127 shares of the semiconductor manufacturer’s stock after buying an additional 81,954 shares during the period. Stifel Financial Corp’s holdings in Micron Technology were worth $30,816,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Beacon Capital Management LLC increased its holdings in shares of Micron Technology by 114.9% during the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after acquiring an additional 200 shares in the last quarter. Midwest Capital Advisors LLC acquired a new position in Micron Technology during the 4th quarter valued at approximately $33,000. Comprehensive Financial Planning Inc. PA purchased a new position in shares of Micron Technology in the fourth quarter worth $34,000. Curio Wealth LLC acquired a new stake in shares of Micron Technology during the fourth quarter worth $34,000. Finally, Activest Wealth Management grew its holdings in shares of 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 buying an additional 350 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

Wall Street Analysts Forecast Growth

MU has been the subject of a number of research reports. Wells Fargo & Company lowered their price target on Micron Technology from $140.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Wedbush reaffirmed an “outperform” rating and set a $125.00 target price on shares of Micron Technology in a report on Monday, March 17th. Robert W. Baird increased their price target on shares of Micron Technology from $130.00 to $163.00 and gave the stock an “outperform” rating in a report on Friday, March 21st. KGI Securities upgraded shares of Micron Technology to a “strong-buy” rating in a research note on Friday, February 21st. Finally, China Renaissance lowered shares of Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 price objective on the stock. in a research note on Wednesday, March 26th. One investment 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $128.56.

Insider Buying and Selling

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the transaction, the director now directly owns 27,358 shares of the company’s stock, valued at $2,542,378.94. The trade was a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of the 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 of the company’s stock, 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 currently owned by company insiders.

Micron Technology Trading Up 6.2 %

MU stock opened at $77.42 on Friday. The business’s 50-day moving average is $86.25 and its 200 day moving average is $95.10. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $157.54. The stock has a market cap of $86.52 billion, a price-to-earnings ratio of 22.31 and a beta of 1.18. 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 issued its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping the consensus estimate of $1.43 by $0.13. The firm had revenue of $8.05 billion during 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 firm’s revenue for the quarter was up 38.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.42 earnings per share. On average, sell-side analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology’s dividend payout ratio is currently 11.03%.

Micron Technology 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.