Micron Technology, Inc. (NASDAQ:MU) Shares Purchased by Vident Advisory LLC

Vident Advisory LLC increased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 14.3% in the fourth quarter, Holdings Channel reports. The firm owned 373,599 shares of the semiconductor manufacturer’s stock after buying an additional 46,873 shares during the period. Vident Advisory LLC’s holdings in Micron Technology were worth $31,442,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MU. Xcel Wealth Management LLC raised its holdings in shares of Micron Technology by 1.8% in the 4th quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer’s stock worth $518,000 after purchasing an additional 108 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its holdings in Micron Technology by 3.8% during the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer’s stock worth $250,000 after purchasing an additional 108 shares during the last quarter. Twin Capital Management Inc. increased its holdings in Micron Technology by 0.5% during the 4th quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer’s stock worth $1,688,000 after purchasing an additional 108 shares during the last quarter. Lebenthal Global Advisors LLC increased its holdings in Micron Technology by 1.5% during the 4th quarter. Lebenthal Global Advisors LLC now owns 7,474 shares of the semiconductor manufacturer’s stock worth $629,000 after purchasing an additional 114 shares during the last quarter. Finally, Cim Investment Management Inc. increased its holdings in Micron Technology by 0.5% during the 4th quarter. Cim Investment Management Inc. now owns 23,062 shares of the semiconductor manufacturer’s stock worth $1,941,000 after purchasing an additional 114 shares during the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MU has been the subject of several research reports. Barclays decreased their target price on Micron Technology from $115.00 to $95.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. UBS Group reduced their price target on Micron Technology from $130.00 to $92.00 and set a “buy” rating for the company in a research report on Monday, April 28th. China Renaissance downgraded 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. Morgan Stanley cut their target price on Micron Technology from $112.00 to $98.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 7th. Finally, Wedbush reiterated an “underperform” rating on shares of Micron Technology in a report on Monday, April 28th. Two analysts have rated the stock with a sell rating, four have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Micron Technology currently has an average rating of “Moderate Buy” and a consensus price target of $126.48.

Micron Technology Trading Up 2.7%

Shares of MU stock opened at $98.00 on Monday. The stock’s fifty day moving average price is $83.13 and its two-hundred day moving average price is $92.56. The company has a market cap of $109.52 billion, a PE ratio of 28.24 and a beta of 1.21. 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.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS 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 company had revenue of $8.05 billion during the quarter, compared to analysts’ expectations of $7.93 billion. During the same period in the prior year, the company earned $0.42 EPS. Micron Technology’s revenue was up 38.2% compared to the same quarter last year. Equities analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently announced 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 yield of 0.47%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology’s dividend payout ratio is currently 11.03%.

Insider Buying and Selling

In other news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $80.00, for a total value of $192,320.00. Following the completion of 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value of $1,442,700.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,808 shares of company stock valued at $1,858,424 in the last three months. Insiders own 0.30% of the company’s stock.

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.