Micron Technology, Inc. (NASDAQ:MU) Stake Boosted by ARS Investment Partners LLC

ARS Investment Partners LLC raised its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 1.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 390,103 shares of the semiconductor manufacturer's stock after purchasing an additional 7,132 shares during the period. Micron Technology comprises approximately 3.0% of ARS Investment Partners LLC's portfolio, making the stock its 11th biggest holding. ARS Investment Partners LLC's holdings in Micron Technology were worth $32,831,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Benjamin F. Edwards & Company Inc. lifted its stake in Micron Technology by 17.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,163 shares of the semiconductor manufacturer's stock valued at $547,000 after buying an additional 618 shares in the last quarter. AE Wealth Management LLC lifted its position in shares of Micron Technology by 143.0% in the second quarter. AE Wealth Management LLC now owns 12,636 shares of the semiconductor manufacturer's stock valued at $1,662,000 after acquiring an additional 7,435 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Micron Technology by 2.2% during the second quarter. Pacer Advisors Inc. now owns 131,568 shares of the semiconductor manufacturer's stock valued at $17,305,000 after acquiring an additional 2,772 shares during the last quarter. Gabelli Funds LLC boosted its stake in shares of Micron Technology by 1.8% during the second quarter. Gabelli Funds LLC now owns 22,705 shares of the semiconductor manufacturer's stock valued at $2,986,000 after acquiring an additional 405 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in Micron Technology by 45.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,512 shares of the semiconductor manufacturer's stock worth $857,000 after purchasing an additional 2,027 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company's stock.

Micron Technology Stock Up 3.4 %

Micron Technology stock traded up $3.63 during midday trading on Tuesday, hitting $109.38. 23,399,417 shares of the company were exchanged, compared to its average volume of 26,186,410. The company has a market cap of $121.87 billion, a PE ratio of 31.52 and a beta of 1.18. Micron Technology, Inc. has a fifty-two week low of $79.15 and a fifty-two week high of $157.54. The company's fifty day moving average price is $97.82 and its 200-day moving average price is $101.80. 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 posted its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, topping analysts' consensus estimates of $1.60 by $0.19. The business had revenue of $8.71 billion for the quarter, compared to analysts' expectations of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business's revenue for the quarter was up 84.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.95) earnings per share. On average, research analysts predict that Micron Technology, Inc. will post 6.25 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were paid a dividend of $0.115 per share. The ex-dividend date was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a yield of 0.42%. Micron Technology's dividend payout ratio (DPR) is presently 13.26%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MU. TD Cowen reduced 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. Wedbush reissued an "outperform" rating and set a $140.00 price objective on shares of Micron Technology in a research note on Tuesday, December 17th. JPMorgan Chase & Co. lowered their target price on shares of Micron Technology from $180.00 to $145.00 and set an "overweight" rating for the company in a research note on Thursday, December 19th. Bank of America lowered Micron Technology from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $125.00 to $110.00 in a research note on Thursday, December 19th. Finally, Robert W. Baird lowered their price objective on Micron Technology from $150.00 to $130.00 and set an "outperform" rating for the company in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have assigned a buy rating to the company's stock. Based on data from MarketBeat, Micron Technology has a consensus rating of "Moderate Buy" and a consensus target price of $135.24.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 4,890 shares of the company'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 sale, the executive vice president now owns 181,223 shares in the company, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.30% of the stock is owned by company insiders.

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.