Sovran Advisors LLC Purchases New Holdings in Micron Technology, Inc. (NASDAQ:MU)

Sovran Advisors LLC bought a new stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 8,765 shares of the semiconductor manufacturer's stock, valued at approximately $738,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Strengthening Families & Communities LLC grew its position in Micron Technology by 155.7% during the 4th quarter. Strengthening Families & Communities LLC now owns 1,575 shares of the semiconductor manufacturer's stock valued at $133,000 after purchasing an additional 959 shares during the last quarter. Focus Financial Network Inc. raised its stake in Micron Technology by 69.8% during the 4th quarter. Focus Financial Network Inc. now owns 4,550 shares of the semiconductor manufacturer's stock valued at $383,000 after buying an additional 1,871 shares during the last quarter. Sapient Capital LLC lifted its holdings in Micron Technology by 5.8% in the fourth quarter. Sapient Capital LLC now owns 4,343 shares of the semiconductor manufacturer's stock valued at $366,000 after acquiring an additional 240 shares during the period. Sycomore Asset Management boosted its holdings in shares of Micron Technology by 14.8% in the fourth quarter. Sycomore Asset Management now owns 155,733 shares of the semiconductor manufacturer's stock worth $13,106,000 after buying an additional 20,066 shares during the last quarter. Finally, Soltis Investment Advisors LLC grew its position in shares of Micron Technology by 5.1% during the 4th quarter. Soltis Investment Advisors LLC now owns 2,950 shares of the semiconductor manufacturer's stock valued at $248,000 after acquiring an additional 142 shares during the period. Institutional investors own 80.84% of the company's stock.

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Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. China Renaissance began coverage on shares of Micron Technology in a report on Monday, October 28th. They issued a "buy" rating and a $148.00 target price for the company. Wedbush restated an "outperform" rating and set a $140.00 price target on shares of Micron Technology in a report on Tuesday, December 17th. TD Cowen reduced their target price on shares of Micron Technology from $135.00 to $125.00 and set a "buy" rating on the stock in a report on Thursday, December 19th. Stifel Nicolaus decreased their price target on Micron Technology from $135.00 to $130.00 and set a "buy" rating on the stock in a report on Thursday, December 19th. Finally, The Goldman Sachs Group dropped their target price on Micron Technology from $145.00 to $128.00 and set a "buy" rating for the company in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $134.96.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 4,890 shares of the firm's stock in a transaction 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 completion of the transaction, the executive vice president now 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.30% of the stock is currently owned by company insiders.

Micron Technology Stock Up 4.0 %

MU traded up $3.86 during trading on Friday, hitting $99.52. The stock had a trading volume of 21,261,888 shares, compared to its average volume of 21,381,818. Micron Technology, Inc. has a twelve month low of $79.15 and a twelve month high of $157.54. The stock has a 50 day simple moving average of $96.10 and a two-hundred day simple moving average of $98.65. 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 $110.88 billion, a PE ratio of 28.68 and a beta of 1.18.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.19. The firm had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company's revenue for the quarter was up 84.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.95) earnings per share. On average, research analysts predict that Micron Technology, Inc. will post 6.29 earnings per share for the current year.

Micron Technology Announces Dividend

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

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.