Mutual Advisors LLC Buys 645 Shares of Micron Technology, Inc. (NASDAQ:MU)

Mutual Advisors LLC increased its stake in Micron Technology, Inc. (NASDAQ:MUFree Report) by 6.3% in the fourth quarter, HoldingsChannel reports. The fund owned 10,933 shares of the semiconductor manufacturer’s stock after purchasing an additional 645 shares during the period. Mutual Advisors LLC’s holdings in Micron Technology were worth $933,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its position in Micron Technology by 411.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,274,070 shares of the semiconductor manufacturer’s stock valued at $763,398,000 after purchasing an additional 12,286,893 shares during the last quarter. Norges Bank bought a new position in shares of Micron Technology during the fourth quarter valued at approximately $581,559,000. FMR LLC lifted its stake in Micron Technology by 47.9% in the third quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer’s stock worth $1,489,801,000 after acquiring an additional 7,089,790 shares during the period. Morgan Stanley boosted its holdings in Micron Technology by 59.2% in the fourth quarter. Morgan Stanley now owns 14,185,790 shares of the semiconductor manufacturer’s stock valued at $709,006,000 after acquiring an additional 5,274,984 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in Micron Technology by 43.4% during the 3rd quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock valued at $1,182,608,000 after purchasing an additional 5,257,201 shares during the period. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Stock Performance

MU stock opened at $118.80 on Wednesday. The company has a market cap of $131.56 billion, a P/E ratio of -34.43 and a beta of 1.24. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. Micron Technology, Inc. has a 1 year low of $56.01 and a 1 year high of $122.46. The stock’s fifty day moving average price is $89.95 and its 200-day moving average price is $80.03.

Micron Technology (NASDAQ:MUGet Free Report) last released its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The business had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.35 billion. During the same period in the previous year, the company posted ($2.03) EPS. The business’s quarterly revenue was up 57.7% compared to the same quarter last year. On average, equities analysts forecast that Micron Technology, Inc. will post -1.06 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st will be given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date is Thursday, March 28th. Micron Technology’s payout ratio is -13.33%.

Insider Transactions at Micron Technology

In other news, CEO Sanjay Mehrotra sold 45,000 shares of the firm’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $90.00, for a total value of $4,050,000.00. Following the transaction, the chief executive officer now owns 788,557 shares of the company’s stock, valued at $70,970,130. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 219,000 shares of company stock worth $20,968,640 in the last three months. Corporate insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on MU. Susquehanna lifted their target price on shares of Micron Technology from $90.00 to $112.00 and gave the company a “positive” rating in a research note on Monday, December 18th. BMO Capital Markets upped their target price on Micron Technology from $80.00 to $90.00 and gave the stock an “outperform” rating in a report on Monday, December 18th. Rosenblatt Securities restated a “buy” rating and issued a $140.00 target price on shares of Micron Technology in a research note on Monday, March 18th. Stifel Nicolaus upped their price target on Micron Technology from $120.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Finally, TD Cowen boosted their target price on shares of Micron Technology from $120.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, March 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $118.69.

Check Out Our Latest Report on MU

Micron Technology Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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