Mariner LLC Has $18.58 Million Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Mariner LLC lifted its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 4.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 220,722 shares of the semiconductor manufacturer's stock after buying an additional 8,846 shares during the period. Mariner LLC's holdings in Micron Technology were worth $18,576,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of MU. Trivant Custom Portfolio Group LLC lifted its holdings in Micron Technology by 20.0% in the fourth quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer's stock valued at $50,000 after acquiring an additional 100 shares during the period. Xcel Wealth Management LLC raised its stake in Micron Technology by 1.8% in the 4th quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer's stock valued at $518,000 after purchasing an additional 108 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its stake in shares of Micron Technology by 3.8% during the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer's stock valued at $250,000 after buying an additional 108 shares during the period. Twin Capital Management Inc. increased its stake in Micron Technology by 0.5% in the fourth quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer's stock valued at $1,688,000 after purchasing an additional 108 shares during the last quarter. Finally, Lebenthal Global Advisors LLC lifted its holdings in shares of Micron Technology by 1.5% during the 4th quarter. Lebenthal Global Advisors LLC now owns 7,474 shares of the semiconductor manufacturer's stock worth $629,000 after acquiring an additional 114 shares during the period. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction dated Monday, March 3rd. The shares were 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 owns 27,358 shares of the company's stock, valued at $2,542,378.94. This represents a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the business's stock in a transaction 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 completion of the sale, the executive vice president now directly owns 164,769 shares in the company, valued at approximately $15,847,482.42. This represents a 8.34 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

Micron Technology Stock Down 0.8 %

Shares of MU stock traded down $0.53 on Friday, reaching $68.80. 20,670,930 shares of the company's stock traded hands, compared to its average volume of 23,271,762. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The company has a market capitalization of $76.89 billion, a P/E ratio of 19.83 and a beta of 1.18. The business's 50 day moving average price is $88.23 and its two-hundred day moving average price is $95.92. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $157.54.

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

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date was Monday, March 31st. Micron Technology's dividend payout ratio is 11.03%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MU. Barclays lifted their price objective on Micron Technology from $110.00 to $115.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. Bank of America cut Micron Technology from a "buy" rating to a "neutral" rating and reduced their target price for the company from $125.00 to $110.00 in a research note on Thursday, December 19th. Wedbush reaffirmed an "outperform" rating and set a $125.00 target price on shares of Micron Technology in a report on Monday, March 17th. Morgan Stanley increased their price objective on shares of Micron Technology from $91.00 to $112.00 and gave the stock an "equal weight" rating in a research note on Friday, March 21st. Finally, Citigroup reduced their target price on shares of Micron Technology from $120.00 to $110.00 and set a "buy" rating for the company in a research note on Friday, April 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Micron Technology has an average rating of "Moderate Buy" and a consensus price target of $129.36.

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.