Micron Technology, Inc. (NASDAQ:MU) Stock Position Lifted by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. lifted its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 60.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,739 shares of the semiconductor manufacturer's stock after acquiring an additional 3,289 shares during the quarter. Hennion & Walsh Asset Management Inc.'s holdings in Micron Technology were worth $735,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Harmony Asset Management LLC increased its holdings in Micron Technology by 75.6% during the 3rd quarter. Harmony Asset Management LLC now owns 11,889 shares of the semiconductor manufacturer's stock valued at $1,233,000 after acquiring an additional 5,120 shares in the last quarter. Lazard Freres Gestion S.A.S. increased its stake in shares of Micron Technology by 241.7% during the 3rd quarter. Lazard Freres Gestion S.A.S. now owns 41,000 shares of the semiconductor manufacturer's stock worth $4,252,000 after purchasing an additional 29,000 shares in the last quarter. Chartwell Investment Partners LLC raised its position in shares of Micron Technology by 26.4% during the 3rd quarter. Chartwell Investment Partners LLC now owns 195,115 shares of the semiconductor manufacturer's stock worth $20,236,000 after purchasing an additional 40,802 shares during the last quarter. State Street Corp grew its holdings in Micron Technology by 3.1% during the 3rd quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer's stock valued at $5,001,592,000 after buying an additional 1,434,568 shares during the last quarter. Finally, Global X Japan Co. Ltd. increased its position in Micron Technology by 23.1% during the third quarter. Global X Japan Co. Ltd. now owns 51,832 shares of the semiconductor manufacturer's stock worth $5,375,000 after buying an additional 9,735 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

Insider Activity

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company's stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the sale, the executive vice president now directly owns 181,223 shares of the company's stock, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.30% of the company's stock.

Micron Technology Stock Performance

MU stock traded up $3.15 during mid-day trading on Monday, reaching $105.75. The company had a trading volume of 18,832,956 shares, compared to its average volume of 29,325,942. The stock's 50-day simple moving average is $97.87 and its two-hundred day simple moving average is $102.02. The stock has a market capitalization of $117.82 billion, a P/E ratio of 30.48 and a beta of 1.18. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a one year low of $79.15 and a one 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 earnings per share for the quarter, beating analysts' consensus estimates of $1.60 by $0.19. The company had revenue of $8.71 billion for 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 business's revenue for the quarter was up 84.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.95) earnings per share. Research analysts anticipate that Micron Technology, Inc. will post 6.25 EPS for the current year.

Micron Technology Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on MU shares. Robert W. Baird cut their price target on Micron Technology from $150.00 to $130.00 and set an "outperform" rating for the company in a report on Thursday, December 19th. Wedbush reiterated an "outperform" rating and set a $140.00 target price on shares of Micron Technology in a research report on Tuesday, December 17th. Barclays dropped their price objective on shares of Micron Technology from $145.00 to $110.00 and set an "overweight" rating for the company in a research note on Friday, December 20th. The Goldman Sachs Group decreased their target price on shares of Micron Technology from $145.00 to $128.00 and set a "buy" rating on the stock in a research report on Thursday, December 19th. Finally, Cantor Fitzgerald dropped their price target on shares of Micron Technology from $150.00 to $130.00 and set an "overweight" rating for the company in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $135.24.

Micron Technology Company 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.