Micron Technology, Inc. (NASDAQ:MU) Position Increased by Great Lakes Advisors LLC

Great Lakes Advisors LLC raised its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 3.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 858,908 shares of the semiconductor manufacturer's stock after buying an additional 25,455 shares during the quarter. Great Lakes Advisors LLC owned 0.08% of Micron Technology worth $72,286,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in MU. Beacon Capital Management LLC grew its holdings in Micron Technology by 114.9% during the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock valued at $31,000 after purchasing an additional 200 shares during the last quarter. True Wealth Design LLC grew its stake in shares of Micron Technology by 1,096.3% in the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer's stock worth $33,000 after acquiring an additional 296 shares during the last quarter. Midwest Capital Advisors LLC acquired a new stake in shares of Micron Technology in the fourth quarter worth $33,000. Stone House Investment Management LLC grew its stake in shares of Micron Technology by 602.2% in the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer's stock worth $34,000 after acquiring an additional 277 shares during the last quarter. Finally, Activest Wealth Management grew its stake in shares of Micron Technology by 583.3% in the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer's stock worth $34,000 after acquiring an additional 350 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Stock Performance

Shares of MU opened at $89.05 on Wednesday. The firm has a market cap of $99.22 billion, a PE ratio of 25.66 and a beta of 1.23. The stock's fifty day moving average price is $96.12 and its two-hundred day moving average price is $98.07. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. Micron Technology, Inc. has a 1 year low of $83.54 and a 1 year high of $157.54.

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

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were paid 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 (DPR) is currently 13.26%.

Analysts Set New Price Targets

MU has been the subject of several research reports. Stifel Nicolaus reduced their target price on Micron Technology from $135.00 to $130.00 and set a "buy" rating for the company in a research report on Thursday, December 19th. Bank of America cut Micron Technology from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $125.00 to $110.00 in a research report on Thursday, December 19th. UBS Group cut their price objective on Micron Technology from $135.00 to $125.00 and set a "buy" rating for the company in a report on Thursday, December 19th. The Goldman Sachs Group cut their price objective on Micron Technology from $145.00 to $128.00 and set a "buy" rating for the company in a report on Thursday, December 19th. Finally, JPMorgan Chase & Co. cut their price target on Micron Technology from $180.00 to $145.00 and set an "overweight" rating for the company in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $134.96.

Insiders Place Their Bets

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the sale, the director now owns 27,358 shares of the company's stock, valued at $2,542,378.94. The trade was a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the completion of the transaction, the executive vice president now directly owns 181,223 shares of the company's stock, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company's stock.

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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