Krilogy Financial LLC Reduces Holdings in Micron Technology, Inc. (NASDAQ:MU)

Krilogy Financial LLC decreased its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 38.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,455 shares of the semiconductor manufacturer's stock after selling 15,754 shares during the quarter. Krilogy Financial LLC's holdings in Micron Technology were worth $2,142,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in MU. Highline Wealth Partners LLC purchased a new stake in Micron Technology in the third quarter valued at approximately $26,000. Davis Capital Management acquired a new stake in Micron Technology during the 3rd quarter valued at approximately $30,000. True Wealth Design LLC boosted its holdings in shares of Micron Technology by 1,096.3% in the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer's stock valued at $33,000 after acquiring an additional 296 shares during the last quarter. DT Investment Partners LLC increased its stake in shares of Micron Technology by 261.1% in the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer's stock worth $34,000 after acquiring an additional 235 shares during the period. Finally, Stone House Investment Management LLC raised its holdings in shares of Micron Technology by 602.2% during the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer's stock worth $34,000 after purchasing an additional 277 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company's stock.

Wall Street Analyst Weigh In

MU has been the subject of several recent research reports. Wedbush reiterated an "outperform" rating and set a $140.00 price target on shares of Micron Technology in a research report on Tuesday, December 17th. Bank of America lowered shares of Micron Technology from a "buy" rating to a "neutral" rating and cut their target price for the company from $125.00 to $110.00 in a report on Thursday, December 19th. Robert W. Baird lowered their price target on shares of Micron Technology from $150.00 to $130.00 and set an "outperform" rating on the stock in a report on Thursday, December 19th. Susquehanna cut their price objective on shares of Micron Technology from $175.00 to $165.00 and set a "positive" rating for the company in a report on Thursday, September 26th. Finally, KeyCorp lowered their target price on shares of Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 8th. One 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $135.24.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 4,890 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president now directly owns 181,223 shares in the company, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.30% of the company's stock.

Micron Technology Trading Up 3.1 %

NASDAQ MU traded up $3.15 during trading hours on Friday, reaching $105.75. The company had a trading volume of 18,832,956 shares, compared to its average volume of 29,325,942. 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 stock has a market capitalization of $117.82 billion, a P/E ratio of 30.48 and a beta of 1.18. The stock has a 50-day moving average of $97.87 and a 200 day moving average of $102.27. Micron Technology, Inc. has a 1-year low of $79.15 and a 1-year high of $157.54.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly 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. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.71 billion for the quarter, compared to analysts' expectations of $8.71 billion. During the same period in the prior year, the firm earned ($0.95) earnings per share. The firm's revenue was up 84.3% compared to the same quarter last year. As a group, research analysts anticipate that Micron Technology, Inc. will post 6.25 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were given a $0.115 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 annualized dividend and a yield of 0.43%. Micron Technology's dividend payout ratio is presently 13.26%.

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.