Invesco Ltd. Purchases 175,187 Shares of Micron Technology, Inc. (NASDAQ:MU)

Invesco Ltd. boosted its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 1.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,207,903 shares of the semiconductor manufacturer's stock after acquiring an additional 175,187 shares during the quarter. Invesco Ltd. owned approximately 0.92% of Micron Technology worth $859,097,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Trivant Custom Portfolio Group LLC lifted its position in Micron Technology by 20.0% during the fourth quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer's stock worth $50,000 after acquiring an additional 100 shares during the last quarter. Xcel Wealth Management LLC lifted its holdings in 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 last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its stake in Micron Technology by 3.8% in 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 valued at $250,000 after purchasing an additional 108 shares during the period. Lebenthal Global Advisors LLC boosted its stake in Micron Technology by 1.5% in the 4th quarter. Lebenthal Global Advisors LLC now owns 7,474 shares of the semiconductor manufacturer's stock valued at $629,000 after purchasing an additional 114 shares during the period. Finally, Hazlett Burt & Watson Inc. grew its holdings in Micron Technology by 1.1% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 10,481 shares of the semiconductor manufacturer's stock valued at $883,000 after buying an additional 119 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

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Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Sanford C. Bernstein decreased their price target on shares of Micron Technology from $140.00 to $120.00 and set an "outperform" rating on the stock in a research note on Wednesday, December 18th. JPMorgan Chase & Co. decreased 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 report on Friday, March 21st. Stifel Nicolaus lowered their target price on shares of Micron Technology from $135.00 to $130.00 and set a "buy" rating on the stock in a report on Thursday, December 19th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $130.00 price target on shares of Micron Technology in a research note on Friday, March 21st. Finally, The Goldman Sachs Group lowered their price objective on Micron Technology from $145.00 to $128.00 and set a "buy" rating on the stock in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Micron Technology has an average rating of "Moderate Buy" and a consensus price target of $129.76.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction on Tuesday, March 25th. The stock was 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 in the company, valued at $15,847,482.42. This trade represents a 8.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm'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 transaction, 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. 0.30% of the stock is currently owned by company insiders.

Micron Technology Trading Down 2.2 %

NASDAQ:MU traded down $1.51 during mid-day trading on Friday, hitting $68.54. 17,196,482 shares of the company's stock were exchanged, compared to its average volume of 23,188,808. 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 fifty-two week low of $61.54 and a fifty-two week high of $157.54. The company has a 50 day simple moving average of $91.08 and a 200-day simple moving average of $97.27. The firm has a market capitalization of $76.60 billion, a P/E ratio of 19.79 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 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.13. The company had revenue of $8.05 billion for the quarter, compared to analysts' expectations of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. Micron Technology's revenue for the quarter was up 38.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.42 earnings per share. As a group, research analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid 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 is Monday, March 31st. Micron Technology's dividend payout ratio is currently 11.03%.

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.