West Paces Advisors Inc. Has $71,000 Holdings in Micron Technology, Inc. (NASDAQ:MU)

West Paces Advisors Inc. increased its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 118.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 821 shares of the semiconductor manufacturer’s stock after acquiring an additional 445 shares during the quarter. West Paces Advisors Inc.’s holdings in Micron Technology were worth $71,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. GAMMA Investing LLC raised its holdings in shares of Micron Technology by 20.5% during the first quarter. GAMMA Investing LLC now owns 21,561 shares of the semiconductor manufacturer’s stock valued at $1,873,000 after acquiring an additional 3,667 shares during the period. Wealthcare Advisory Partners LLC raised its holdings in shares of Micron Technology by 14.2% during the first quarter. Wealthcare Advisory Partners LLC now owns 20,281 shares of the semiconductor manufacturer’s stock valued at $1,762,000 after acquiring an additional 2,516 shares during the period. Bruce G. Allen Investments LLC raised its holdings in shares of Micron Technology by 44.4% during the first quarter. Bruce G. Allen Investments LLC now owns 871 shares of the semiconductor manufacturer’s stock valued at $76,000 after acquiring an additional 268 shares during the period. Tounjian Advisory Partners LLC acquired a new stake in shares of Micron Technology during the first quarter valued at approximately $2,033,000. Finally, Rheos Capital Works Inc. raised its holdings in shares of Micron Technology by 31.0% during the first quarter. Rheos Capital Works Inc. now owns 169,000 shares of the semiconductor manufacturer’s stock valued at $14,684,000 after acquiring an additional 40,000 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Performance

Shares of MU opened at $114.14 on Wednesday. The company’s fifty day moving average is $85.21 and its 200-day moving average is $92.26. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $157.54. The firm has a market cap of $127.56 billion, a price-to-earnings ratio of 32.89 and a beta of 1.28. 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 announced 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 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%. Micron Technology’s quarterly revenue was up 38.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.42 EPS. Equities analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.40%. The ex-dividend date was Monday, March 31st. Micron Technology’s dividend payout ratio is currently 11.03%.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction 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 completion of the sale, the executive vice president now directly owns 164,769 shares of the company’s stock, valued at $15,847,482.42. This represents a 8.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Scott J. Deboer sold 20,000 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $110.00, for a total transaction of $2,200,000.00. Following the completion of the sale, the executive vice president now directly owns 186,353 shares of the company’s stock, valued at approximately $20,498,830. This trade represents a 9.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 44,904 shares of company stock valued at $4,665,124. Company insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on MU. Barclays cut their price target on shares of Micron Technology from $115.00 to $95.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Royal Bank of Canada set a $125.00 price objective on shares of Micron Technology in a research note on Wednesday, March 19th. Wall Street Zen lowered shares of Micron Technology from a “buy” rating to a “hold” rating in a research note on Saturday, May 24th. Wedbush reiterated an “underperform” rating on shares of Micron Technology in a research note on Monday, April 28th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $129.00.

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.