Stifel Financial Corp Has $30.82 Million Stake in Micron Technology, Inc. (NASDAQ:MU)

Stifel Financial Corp increased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 28.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 366,127 shares of the semiconductor manufacturer's stock after acquiring an additional 81,954 shares during the period. Stifel Financial Corp's holdings in Micron Technology were worth $30,816,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. E Fund Management Co. Ltd. increased its holdings in shares of Micron Technology by 31.8% in the fourth quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer's stock valued at $3,062,000 after purchasing an additional 8,780 shares in the last quarter. CIBC Private Wealth Group LLC increased its stake in shares of Micron Technology by 43.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 14,178 shares of the semiconductor manufacturer's stock valued at $1,193,000 after buying an additional 4,264 shares during the period. Stablepoint Partners LLC bought a new stake in shares of Micron Technology during the fourth quarter worth $569,000. Landscape Capital Management L.L.C. lifted its stake in shares of Micron Technology by 167.0% during the fourth quarter. Landscape Capital Management L.L.C. now owns 45,758 shares of the semiconductor manufacturer's stock valued at $3,851,000 after acquiring an additional 28,621 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH boosted its holdings in Micron Technology by 11.7% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 502,374 shares of the semiconductor manufacturer's stock valued at $42,280,000 after acquiring an additional 52,729 shares during the last quarter. Institutional investors own 80.84% of the company's stock.

Micron Technology Stock Up 3.0 %

Shares of MU stock traded up $2.36 on Friday, hitting $79.78. 19,715,387 shares of the stock were exchanged, compared to its average volume of 23,282,027. The firm has a market capitalization of $89.16 billion, a P/E ratio of 22.99 and a beta of 1.18. The business has a 50-day moving average of $85.71 and a 200 day moving average of $94.89. 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.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping the consensus estimate of $1.43 by $0.13. The firm 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%. The company's revenue for the quarter was up 38.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.42 EPS. Equities analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date was Monday, March 31st. Micron Technology's dividend payout ratio is currently 11.03%.

Analysts Set New Price Targets

MU has been the subject of several recent research reports. Royal Bank of Canada set a $125.00 price objective on Micron Technology in a report on Wednesday, March 19th. Cantor Fitzgerald reissued an "overweight" rating and set a $130.00 price target on shares of Micron Technology in a research note on Friday, March 21st. Robert W. Baird raised their price objective on shares of Micron Technology from $130.00 to $163.00 and gave the company an "outperform" rating in a research note on Friday, March 21st. Barclays lowered their target price on shares of Micron Technology from $115.00 to $95.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Finally, UBS Group increased their price target on Micron Technology from $125.00 to $130.00 and gave the company a "buy" rating in a research note on Monday, March 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $128.56.

Insider Transactions at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the sale, the director now owns 27,358 shares in the company, valued at $2,542,378.94. The trade was a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction that occurred 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 owns 164,769 shares in the company, valued at approximately $15,847,482.42. This trade 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 company insiders.

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.