Aptus Capital Advisors LLC Boosts Stake in Micron Technology, Inc. (NASDAQ:MU)

Aptus Capital Advisors LLC lifted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 36.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,596 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,072 shares during the quarter. Aptus Capital Advisors LLC’s holdings in Micron Technology were worth $976,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the company’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 sale, the executive vice president now owns 164,769 shares of the company’s stock, valued at $15,847,482.42. This represents a 8.34 % 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, Director Mary Pat Mccarthy sold 2,404 shares of the firm’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 transaction of $192,320.00. Following the transaction, the director now directly 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. In the last quarter, insiders sold 19,808 shares of company stock worth $1,858,424. Company insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on MU. Royal Bank of Canada set a $125.00 target price on shares of Micron Technology in a report on Wednesday, March 19th. Wedbush reiterated an “underperform” rating on shares of Micron Technology in a research note on Monday, April 28th. JPMorgan Chase & Co. decreased their target price on Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Friday, March 21st. Cantor Fitzgerald restated an “overweight” rating and set a $130.00 price target on shares of Micron Technology in a report on Friday, March 21st. Finally, Rosenblatt Securities decreased their price objective on Micron Technology from $250.00 to $200.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, eighteen 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 a consensus price target of $127.04.

Micron Technology Trading Up 0.2 %

Shares of Micron Technology stock opened at $80.60 on Wednesday. The company’s fifty day moving average is $83.06 and its two-hundred day moving average is $93.46. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year 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 market capitalization of $90.08 billion, a P/E ratio of 23.23 and a beta of 1.21.

Micron Technology (NASDAQ:MU) last issued its quarterly 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 quarter in the previous year, the firm posted $0.42 EPS. The firm’s revenue for the quarter was up 38.2% on a year-over-year basis. Analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.115 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.46 annualized dividend and a yield of 0.57%. Micron Technology’s dividend payout ratio is currently 11.03%.

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.