TRUE Private Wealth Advisors Increases Position in Micron Technology, Inc. (NASDAQ:MU)

TRUE Private Wealth Advisors raised its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 40.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,480 shares of the semiconductor manufacturer's stock after acquiring an additional 4,783 shares during the quarter. TRUE Private Wealth Advisors' holdings in Micron Technology were worth $1,387,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new position in Micron Technology during the 4th quarter worth approximately $1,470,875,000. FMR LLC lifted its position in shares of Micron Technology by 34.6% during the 4th quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer's stock worth $4,012,114,000 after purchasing an additional 12,249,341 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its position in shares of Micron Technology by 339.6% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 2,255,000 shares of the semiconductor manufacturer's stock worth $189,781,000 after purchasing an additional 1,742,073 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Micron Technology during the fourth quarter worth $135,865,000. Finally, Geode Capital Management LLC increased its holdings in Micron Technology by 3.9% in the third quarter. Geode Capital Management LLC now owns 23,723,545 shares of the semiconductor manufacturer's stock valued at $2,451,987,000 after buying an additional 892,607 shares during the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Buying and Selling at Micron Technology

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction 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 sale, the director now owns 27,358 shares in the company, valued at approximately $2,542,378.94. This represents a 8.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP April S. Arnzen sold 15,000 shares of the business's 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 completion of the transaction, the executive vice president now directly owns 164,769 shares of the company's stock, valued at approximately $15,847,482.42. This trade represents a 8.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on MU shares. Bank of America cut Micron Technology from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $125.00 to $110.00 in a research report on Thursday, December 19th. Barclays increased their price target on shares of Micron Technology from $110.00 to $115.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. Stifel Nicolaus reduced their price objective on shares of Micron Technology from $135.00 to $130.00 and set a "buy" rating for the company in a research report on Thursday, December 19th. Royal Bank of Canada set a $125.00 target price on shares of Micron Technology in a report on Wednesday, March 19th. Finally, Rosenblatt Securities cut their target price on Micron Technology from $250.00 to $200.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $129.36.

Micron Technology Stock Performance

MU traded down $0.50 during trading on Friday, reaching $69.55. The company's stock had a trading volume of 30,755,036 shares, compared to its average volume of 23,239,529. 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's fifty day moving average price is $90.66 and its 200-day moving average price is $97.00. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $157.54. The company has a market capitalization of $77.73 billion, a price-to-earnings ratio of 20.04 and a beta of 1.18.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.13. The firm had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company's revenue for the quarter was up 38.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.42 earnings per share. On average, equities analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.115 per share. The ex-dividend date is Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a yield of 0.66%. Micron Technology's payout ratio is 11.03%.

About Micron Technology

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.