Micron Technology, Inc. (NASDAQ:MU) Shares Purchased by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC increased its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 29.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,205 shares of the semiconductor manufacturer's stock after purchasing an additional 13,161 shares during the quarter. Integrated Wealth Concepts LLC's holdings in Micron Technology were worth $4,899,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Adage Capital Partners GP L.L.C. lifted its position in shares of Micron Technology by 9.3% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,240,803 shares of the semiconductor manufacturer's stock worth $104,426,000 after purchasing an additional 105,700 shares during the period. Coppell Advisory Solutions LLC raised its stake in Micron Technology by 23.3% in the fourth quarter. Coppell Advisory Solutions LLC now owns 788 shares of the semiconductor manufacturer's stock worth $67,000 after buying an additional 149 shares in the last quarter. Pinebridge Investments L.P. lifted its holdings in Micron Technology by 31.8% during the fourth quarter. Pinebridge Investments L.P. now owns 98,640 shares of the semiconductor manufacturer's stock worth $8,302,000 after buying an additional 23,773 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Micron Technology by 198.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,545,882 shares of the semiconductor manufacturer's stock valued at $550,903,000 after acquiring an additional 4,352,225 shares in the last quarter. Finally, Alta Advisers Ltd increased its holdings in shares of Micron Technology by 23.1% in the 4th quarter. Alta Advisers Ltd now owns 3,694 shares of the semiconductor manufacturer's stock valued at $311,000 after acquiring an additional 694 shares during the period. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Stock Performance

MU traded up $2.36 on Friday, reaching $79.78. The stock had a trading volume of 19,715,387 shares, compared to its average volume of 23,282,027. The business's 50-day moving average price is $85.71 and its two-hundred day moving average price is $94.82. 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 12-month low of $61.54 and a 12-month high of $157.54. The company has a market cap of $89.16 billion, a P/E ratio of 22.99 and a beta of 1.18.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, beating the consensus estimate of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same period last year, the company earned $0.42 earnings per share. Micron Technology's quarterly revenue was up 38.2% compared to the same quarter last year. Sell-side analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.46 annualized dividend and a dividend yield of 0.58%. Micron Technology's dividend payout ratio (DPR) is presently 11.03%.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the transaction, the executive vice president now directly owns 164,769 shares of the company's stock, valued at $15,847,482.42. This trade represents a 8.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology 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 transaction, the director now owns 27,358 shares in the company, valued at approximately $2,542,378.94. The trade was a 8.08 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MU. Citigroup dropped their price objective on Micron Technology from $120.00 to $110.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. China Renaissance cut shares of Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price target on the stock. in a report on Wednesday, March 26th. JPMorgan Chase & Co. reduced their price objective on shares of Micron Technology from $145.00 to $135.00 and set an "overweight" rating for the company in a research note on Friday, March 21st. Morgan Stanley raised their target price on shares of Micron Technology from $91.00 to $112.00 and gave the company an "equal weight" rating in a research note on Friday, March 21st. Finally, Wells Fargo & Company reduced their price target on Micron Technology from $140.00 to $130.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $128.56.

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.