Raymond James Financial Inc. Acquires Shares of 1,614,360 Micron Technology, Inc. (NASDAQ:MU)

Raymond James Financial Inc. purchased a new position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,614,360 shares of the semiconductor manufacturer's stock, valued at approximately $135,865,000. Raymond James Financial Inc. owned approximately 0.14% of Micron Technology as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Beacon Capital Management LLC lifted its position in Micron Technology by 114.9% in the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock valued at $31,000 after acquiring an additional 200 shares in the last quarter. True Wealth Design LLC lifted its position in Micron Technology by 1,096.3% in the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer's stock valued at $33,000 after acquiring an additional 296 shares in the last quarter. Midwest Capital Advisors LLC bought a new stake in Micron Technology in the 4th quarter valued at $33,000. Stone House Investment Management LLC lifted its position in Micron Technology by 602.2% in the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer's stock valued at $34,000 after acquiring an additional 277 shares in the last quarter. Finally, Activest Wealth Management lifted its position in Micron Technology by 583.3% in the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer's stock valued at $34,000 after acquiring an additional 350 shares in the last quarter. 80.84% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

MU has been the topic of several recent research reports. UBS Group lowered their price target on shares of Micron Technology from $135.00 to $125.00 and set a "buy" rating on the stock in a research note on Thursday, December 19th. Cantor Fitzgerald lowered their price target on shares of Micron Technology from $150.00 to $130.00 and set an "overweight" rating on the stock in a research note on Thursday, December 19th. TD Cowen lowered their price target on shares of Micron Technology from $135.00 to $125.00 and set a "buy" rating on the stock in a research note on Thursday, December 19th. Rosenblatt Securities reiterated a "buy" rating and issued a $250.00 price target on shares of Micron Technology in a research note on Wednesday, December 18th. Finally, Bank of America lowered shares of Micron Technology from a "buy" rating to a "neutral" rating and lowered their price target for the company from $125.00 to $110.00 in a research note 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 issued a strong buy rating to the company. According to MarketBeat, Micron Technology has an average rating of "Moderate Buy" and an average price target of $134.96.

Insider Transactions at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction on 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 directly owns 27,358 shares of the company's stock, valued at $2,542,378.94. This represents a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the transaction, the executive vice president now directly owns 181,223 shares in the company, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by corporate insiders.

Micron Technology Price Performance

MU stock traded up $3.69 during trading on Friday, reaching $92.96. 19,124,262 shares of the company were exchanged, compared to its average volume of 22,173,117. The company has a 50-day moving average of $95.99 and a two-hundred day moving average of $98.36. The company has a market capitalization of $103.57 billion, a price-to-earnings ratio of 26.79 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 debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business had revenue of $8.71 billion during the quarter, compared to analysts' expectations of $8.71 billion. During the same period in the prior year, the company earned ($0.95) EPS. The firm's quarterly revenue was up 84.3% compared to the same quarter last year. As a group, equities analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Monday, December 30th. Micron Technology's dividend payout ratio (DPR) is presently 13.26%.

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.