Dana Investment Advisors Inc. Decreases Stake in Micron Technology, Inc. (NASDAQ:MU)

Dana Investment Advisors Inc. lessened its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 52.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 57,913 shares of the semiconductor manufacturer's stock after selling 63,300 shares during the period. Dana Investment Advisors Inc.'s holdings in Micron Technology were worth $4,874,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Arizona State Retirement System increased its stake in shares of Micron Technology by 0.7% in the fourth quarter. Arizona State Retirement System now owns 320,216 shares of the semiconductor manufacturer's stock worth $26,949,000 after purchasing an additional 2,285 shares in the last quarter. Proficio Capital Partners LLC increased its stake in shares of Micron Technology by 74.7% in the fourth quarter. Proficio Capital Partners LLC now owns 4,056 shares of the semiconductor manufacturer's stock worth $341,000 after purchasing an additional 1,734 shares in the last quarter. SPC Financial Inc. purchased a new position in shares of Micron Technology in the fourth quarter worth about $398,000. Assetmark Inc. increased its stake in shares of Micron Technology by 46.3% in the fourth quarter. Assetmark Inc. now owns 47,959 shares of the semiconductor manufacturer's stock worth $4,036,000 after purchasing an additional 15,167 shares in the last quarter. Finally, Keybank National Association OH increased its stake in shares of Micron Technology by 7.3% in the fourth quarter. Keybank National Association OH now owns 18,316 shares of the semiconductor manufacturer's stock worth $1,541,000 after purchasing an additional 1,243 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company's stock.

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Micron Technology Trading Up 4.1 %

Shares of MU traded up $3.69 during mid-day trading on Friday, reaching $92.96. The company's stock had a trading volume of 19,124,262 shares, compared to its average volume of 22,173,117. The stock has a market cap of $103.57 billion, a PE ratio of 26.79 and a beta of 1.23. 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, Inc. has a 52 week low of $83.54 and a 52 week high of $157.54. The company's fifty day moving average price is $95.99 and its two-hundred day moving average price is $98.29.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share 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 firm had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.71 billion. During the same period in the previous year, the business posted ($0.95) EPS. The business's quarterly revenue was up 84.3% on a year-over-year basis. On average, analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on MU shares. UBS Group reduced their target price on shares of Micron Technology from $135.00 to $125.00 and set a "buy" rating for the company in a research note on Thursday, December 19th. Robert W. Baird reduced their price objective 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 reaffirmed an "outperform" rating and set a $140.00 price objective on shares of Micron Technology in a research note on Tuesday, December 17th. Cantor Fitzgerald reduced their price objective on shares of Micron Technology from $150.00 to $130.00 and set an "overweight" rating for the company in a research note on Thursday, December 19th. Finally, Mizuho reduced their price objective on shares of Micron Technology from $135.00 to $115.00 and set an "outperform" rating for the company in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $134.96.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business's stock in a transaction on Friday, December 20th. The shares were 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 of the company's stock, valued at approximately $15,442,011.83. The trade was a 2.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the business's 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 in the company, valued at approximately $2,542,378.94. The trade was a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

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.