Micron Technology, Inc. (NASDAQ:MU) Shares Purchased by LPL Financial LLC

LPL Financial LLC raised its stake in Micron Technology, Inc. (NASDAQ:MU) by 5.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 734,517 shares of the semiconductor manufacturer’s stock after acquiring an additional 35,163 shares during the quarter. LPL Financial LLC’s holdings in Micron Technology were worth $61,817,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Beacon Capital Management LLC boosted its position in Micron Technology by 114.9% during the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after acquiring an additional 200 shares during the last quarter. True Wealth Design LLC boosted its holdings in shares of Micron Technology by 1,096.3% during the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after purchasing an additional 296 shares during the last quarter. Midwest Capital Advisors LLC acquired a new stake in shares of Micron Technology during the fourth quarter worth $33,000. Stone House Investment Management LLC grew its position in shares of Micron Technology by 602.2% in the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 277 shares during the period. Finally, Activest Wealth Management increased its stake in Micron Technology by 583.3% in the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 350 shares during the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Price Performance

Shares of MU stock opened at $92.13 on Thursday. The firm has a fifty day simple moving average of $96.58 and a 200-day simple moving average of $98.41. The company has a market capitalization of $102.65 billion, a PE ratio of 26.55 and a beta of 1.23. Micron Technology, Inc. has a twelve month low of $83.54 and a twelve month high of $157.54. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. 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 posted $0.42 EPS. The firm’s revenue for the quarter was up 38.2% on a year-over-year basis. Equities research analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.46 annualized dividend and a yield of 0.50%. Micron Technology’s dividend payout ratio is presently 11.03%.

Insider Buying and Selling at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.93, for a total value of $223,403.72. Following the completion of the sale, the director now owns 27,358 shares of the company’s stock, valued at approximately $2,542,378.94. The trade was a 8.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on MU. JPMorgan Chase & Co. lowered their price target on Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Friday, March 21st. Cantor Fitzgerald restated an “overweight” rating and issued a $130.00 target price on shares of Micron Technology in a report on Friday, March 21st. Sanford C. Bernstein cut their price target on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 18th. Barclays boosted their price objective on shares of Micron Technology from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Finally, Wedbush reaffirmed an “outperform” rating and issued a $125.00 target price on shares of Micron Technology in a research report on Monday, March 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Micron Technology has a consensus rating of “Moderate Buy” and a consensus target price of $129.96.

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.