IFP Advisors Inc Acquires 9,227 Shares of Micron Technology, Inc. (NASDAQ:MU)

IFP Advisors Inc raised its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 94.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,036 shares of the semiconductor manufacturer’s stock after purchasing an additional 9,227 shares during the quarter. IFP Advisors Inc’s holdings in Micron Technology were worth $1,602,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Van ECK Associates Corp lifted its holdings in shares of Micron Technology by 30.6% in the 3rd quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock worth $1,109,769,000 after buying an additional 2,477,985 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Micron Technology by 21.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock valued at $1,174,643,000 after acquiring an additional 2,022,180 shares in the last quarter. State Street Corp lifted its stake in Micron Technology by 3.1% in the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock worth $5,001,592,000 after acquiring an additional 1,434,568 shares during the period. Worldquant Millennium Advisors LLC grew its holdings in Micron Technology by 254.4% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 1,859,416 shares of the semiconductor manufacturer’s stock worth $192,840,000 after acquiring an additional 1,334,690 shares in the last quarter. Finally, Bridgewater Associates LP bought a new position in Micron Technology during the 3rd quarter worth about $102,018,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Price Performance

Shares of MU opened at $97.71 on Thursday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The company’s fifty day moving average price is $95.59 and its 200-day moving average price is $98.92. Micron Technology, Inc. has a 1-year low of $83.54 and a 1-year high of $157.54. The firm has a market capitalization of $108.87 billion, a PE ratio of 28.16 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. During the same period in the prior year, the company earned ($0.95) earnings per share. The company’s revenue was up 84.3% on a year-over-year basis. On average, equities research analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Monday, December 30th. Micron Technology’s dividend payout ratio is presently 13.26%.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the transaction, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company lowered their price target on shares of Micron Technology from $175.00 to $140.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Robert W. Baird lowered their target price on Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. Mizuho dropped their target price on Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, December 19th. Morgan Stanley reduced their price target on Micron Technology from $98.00 to $91.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. Finally, UBS Group dropped their price objective on Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Micron Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.96.

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.