Advisory Services Network LLC Acquires 8,830 Shares of Micron Technology, Inc. (NASDAQ:MU)

Advisory Services Network LLC increased its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 14.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,901 shares of the semiconductor manufacturer's stock after purchasing an additional 8,830 shares during the period. Advisory Services Network LLC's holdings in Micron Technology were worth $5,883,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of MU. Beacon Capital Management LLC increased its holdings in Micron Technology by 114.9% during the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock worth $31,000 after purchasing an additional 200 shares in the last quarter. Midwest Capital Advisors LLC bought a new stake in Micron Technology during the fourth quarter worth $33,000. Comprehensive Financial Planning Inc. PA purchased a new stake in Micron Technology in the 4th quarter valued at $34,000. Curio Wealth LLC bought a new position in Micron Technology during the 4th quarter valued at $34,000. Finally, Activest Wealth Management boosted its holdings in Micron Technology by 583.3% during the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer's stock worth $34,000 after acquiring an additional 350 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MU. UBS Group increased their target price on shares of Micron Technology from $125.00 to $130.00 and gave the company a "buy" rating in a report on Monday, March 17th. 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 research report on Thursday, December 19th. Mizuho cut their target price on Micron Technology from $135.00 to $115.00 and set an "outperform" rating on the stock in a research note on Thursday, December 19th. TD Cowen decreased their price target on Micron Technology from $135.00 to $125.00 and set a "buy" rating for the company in a research report on Thursday, December 19th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $130.00 price objective on shares of Micron Technology in a research report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $129.36.

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Insiders Place Their Bets

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction 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. This represents a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the completion of the transaction, the executive vice president now owns 164,769 shares in the company, valued at $15,847,482.42. This represents a 8.34 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.30% of the company's stock.

Micron Technology Price Performance

MU stock traded down $0.50 during midday trading on Friday, reaching $69.55. The company had a trading volume of 30,755,036 shares, compared to its average volume of 23,239,529. The firm has a 50-day moving average price of $90.66 and a 200-day moving average price of $97.00. 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 has a market capitalization of $77.73 billion, a P/E ratio of 20.04 and a beta of 1.18. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $157.54.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $7.93 billion. During the same period in the previous year, the business earned $0.42 earnings per share. The firm's quarterly revenue was up 38.2% compared to the same quarter last year. On average, research analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date is Monday, March 31st. Micron Technology's payout ratio is currently 11.03%.

Micron Technology 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.