Micron Technology, Inc. (NASDAQ:MU) Shares Acquired by Farther Finance Advisors LLC

Farther Finance Advisors LLC lifted its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 117.1% during the fourth quarter, HoldingsChannel reports. The firm owned 13,947 shares of the semiconductor manufacturer’s stock after purchasing an additional 7,524 shares during the quarter. Farther Finance Advisors LLC’s holdings in Micron Technology were worth $1,174,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in MU. Sequoia Financial Advisors LLC raised its holdings in Micron Technology by 5.7% in the fourth quarter. Sequoia Financial Advisors LLC now owns 38,040 shares of the semiconductor manufacturer’s stock valued at $3,201,000 after acquiring an additional 2,041 shares in the last quarter. HighTower Advisors LLC raised its holdings in Micron Technology by 38.1% in the fourth quarter. HighTower Advisors LLC now owns 493,883 shares of the semiconductor manufacturer’s stock valued at $41,565,000 after acquiring an additional 136,367 shares in the last quarter. Natural Investments LLC acquired a new stake in Micron Technology in the fourth quarter valued at $200,000. Cushing Capital Partners LLC acquired a new stake in Micron Technology in the fourth quarter valued at $610,000. Finally, SPX Gestao de Recursos Ltda acquired a new stake in Micron Technology in the fourth quarter valued at $5,050,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Stock Performance

Shares of MU opened at $94.88 on Friday. The firm has a 50-day moving average price of $96.50 and a 200 day moving average price of $98.04. The firm has a market capitalization of $105.71 billion, a PE ratio of 27.34 and a beta of 1.23. 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, Inc. has a 52-week low of $83.54 and a 52-week high of $157.54.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. The firm had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. Micron Technology’s revenue was up 84.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.95) EPS. On average, sell-side analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were given a $0.115 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a yield of 0.48%. Micron Technology’s dividend payout ratio is presently 13.26%.

Insider Activity at Micron Technology

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 transaction of $416,676.90. Following the completion of the transaction, the executive vice president now owns 181,223 shares in the company, valued at approximately $15,442,011.83. This trade represents a 2.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the transaction, the director now owns 27,358 shares of the company’s stock, valued at approximately $2,542,378.94. This trade represents a 8.08 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on MU shares. Robert W. Baird cut their price target on shares of Micron Technology from $150.00 to $130.00 and set an “outperform” rating on the stock in a report on Thursday, December 19th. Sanford C. Bernstein dropped their target price on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. Stifel Nicolaus dropped their target price on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Wedbush reissued an “outperform” rating and set a $140.00 target price on shares of Micron Technology in a report on Tuesday, December 17th. Finally, TD Cowen dropped their target price on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $134.56.

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.