Independent Advisor Alliance Increases Position in Micron Technology, Inc. (NASDAQ:MU)

Independent Advisor Alliance boosted its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 14.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 65,721 shares of the semiconductor manufacturer's stock after purchasing an additional 8,308 shares during the quarter. Independent Advisor Alliance's holdings in Micron Technology were worth $5,531,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in MU. Stonebrook Private Inc. grew its stake in shares of Micron Technology by 4.2% in the 3rd quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer's stock worth $255,000 after buying an additional 98 shares in the last quarter. John G Ullman & Associates Inc. grew its stake in shares of Micron Technology by 2.5% in the 3rd quarter. John G Ullman & Associates Inc. now owns 4,063 shares of the semiconductor manufacturer's stock worth $421,000 after buying an additional 100 shares in the last quarter. Trivant Custom Portfolio Group LLC grew its stake in shares of Micron Technology by 20.0% in the 4th quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer's stock worth $50,000 after buying an additional 100 shares in the last quarter. Xcel Wealth Management LLC boosted its stake in shares of Micron Technology by 1.8% during the 4th quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer's stock worth $518,000 after purchasing an additional 108 shares during the period. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its stake in shares of Micron Technology by 3.8% during the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer's stock worth $250,000 after purchasing an additional 108 shares during the period. Hedge funds and other institutional investors own 80.84% of the company's stock.

Insider Activity

In other news, EVP April S. Arnzen sold 4,890 shares of the company's stock in a transaction on 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 directly owns 181,223 shares of the company's stock, valued at $15,442,011.83. This represents a 2.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company'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 completion of the sale, the director now directly owns 27,358 shares in the company, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.30% of the company's stock.

Analyst Upgrades and Downgrades

MU has been the subject of a number of recent analyst reports. Cantor Fitzgerald dropped their price target 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. UBS Group dropped their price target 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. The Goldman Sachs Group dropped their price target 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. JPMorgan Chase & Co. dropped 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. Finally, Wedbush reaffirmed an "outperform" rating and set a $140.00 price target on shares of Micron Technology in a research note on Tuesday, December 17th. 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 given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $134.96.

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Micron Technology Stock Up 2.3 %

NASDAQ:MU opened at $89.05 on Wednesday. The company has a market cap of $99.22 billion, a PE ratio of 25.66 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 current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The company's 50 day moving average is $96.12 and its two-hundred day moving average is $98.07.

Micron Technology (NASDAQ:MU - Get Free Report) last released its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.19. The company had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. Micron Technology's revenue was up 84.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.95) EPS. Analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.52%. The ex-dividend date was Monday, December 30th. Micron Technology's dividend payout ratio is presently 13.26%.

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.

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