Micron Technology, Inc. (NASDAQ:MU) Stake Increased by Assetmark Inc.

Assetmark Inc. grew its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 46.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,959 shares of the semiconductor manufacturer's stock after purchasing an additional 15,167 shares during the period. Assetmark Inc.'s holdings in Micron Technology were worth $4,036,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Swedbank AB increased its stake in shares of Micron Technology by 30.4% in the 3rd quarter. Swedbank AB now owns 3,455,819 shares of the semiconductor manufacturer's stock valued at $358,403,000 after acquiring an additional 806,639 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Micron Technology by 4.4% in the 3rd quarter. Principal Financial Group Inc. now owns 1,255,931 shares of the semiconductor manufacturer's stock valued at $130,253,000 after acquiring an additional 52,912 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Micron Technology in the 3rd quarter valued at $94,000. Easterly Investment Partners LLC increased its stake in shares of Micron Technology by 274.4% in the 3rd quarter. Easterly Investment Partners LLC now owns 17,211 shares of the semiconductor manufacturer's stock valued at $1,785,000 after acquiring an additional 12,614 shares in the last quarter. Finally, Fiera Capital Corp increased its stake in shares of Micron Technology by 6.9% in the 3rd quarter. Fiera Capital Corp now owns 24,617 shares of the semiconductor manufacturer's stock valued at $2,553,000 after acquiring an additional 1,592 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling

In related 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 value of $223,403.72. Following the completion of 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the company's stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the sale, the executive vice president now owns 181,223 shares of the company's stock, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company's stock.

Wall Street Analysts Forecast Growth

MU has been the subject of a number of recent research reports. JPMorgan Chase & Co. decreased their price target 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. Robert W. Baird decreased their price target on shares of Micron Technology from $150.00 to $130.00 and set an "outperform" rating for the company in a research note on Thursday, December 19th. Wedbush restated an "outperform" rating and set a $140.00 price target on shares of Micron Technology in a research note on Tuesday, December 17th. The Goldman Sachs Group reduced their target price on shares of Micron Technology from $145.00 to $128.00 and set a "buy" rating for the company in a research note on Thursday, December 19th. Finally, Stifel Nicolaus reduced their target price on shares of Micron Technology from $135.00 to $130.00 and set a "buy" rating for the company in a research note on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Micron Technology has an average rating of "Moderate Buy" and a consensus target price of $134.96.

Micron Technology Trading Up 4.1 %

Micron Technology stock traded up $3.69 during midday trading on Friday, reaching $92.96. The stock had a trading volume of 19,124,262 shares, compared to its average volume of 22,173,117. The stock's 50-day simple moving average is $95.99 and its 200 day simple moving average is $98.36. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. Micron Technology, Inc. has a twelve month low of $83.54 and a twelve month high of $157.54. The stock has a market capitalization of $103.57 billion, a PE ratio of 26.79 and a beta of 1.23.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its earnings results 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 return on equity of 8.32% and a net margin of 13.34%. The business had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. During the same period in the previous year, the company earned ($0.95) earnings per share. The company's revenue for the quarter was up 84.3% compared to the same quarter last year. Analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology's dividend payout ratio (DPR) is 13.26%.

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.