Sawgrass Asset Management LLC Buys Shares of 2,480 Micron Technology, Inc. (NASDAQ:MU)

Sawgrass Asset Management LLC bought a new stake in shares of Micron Technology, Inc. (NASDAQ:MU) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,480 shares of the semiconductor manufacturer’s stock, valued at approximately $212,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Sovereign Financial Group Inc. bought a new stake in Micron Technology during the fourth quarter valued at about $221,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Micron Technology by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,450,347 shares of the semiconductor manufacturer’s stock valued at $550,473,000 after buying an additional 120,406 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in shares of Micron Technology in the 4th quarter worth approximately $223,000. Apollon Wealth Management LLC raised its stake in shares of Micron Technology by 36.1% during the 4th quarter. Apollon Wealth Management LLC now owns 18,048 shares of the semiconductor manufacturer’s stock worth $1,540,000 after acquiring an additional 4,787 shares in the last quarter. Finally, Lincoln National Corp lifted its position in Micron Technology by 13.3% during the fourth quarter. Lincoln National Corp now owns 8,059 shares of the semiconductor manufacturer’s stock valued at $688,000 after acquiring an additional 948 shares during the last quarter. 80.84% of the stock is owned by institutional investors.

Micron Technology Trading Down 0.8 %

NASDAQ:MU traded down $0.92 during trading hours on Tuesday, reaching $119.21. 12,468,907 shares of the stock were exchanged, compared to its average volume of 20,199,230. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30. The business has a 50-day moving average of $110.11 and a two-hundred day moving average of $90.70. Micron Technology, Inc. has a twelve month low of $59.55 and a twelve month high of $130.54. The company has a market capitalization of $131.61 billion, a price-to-earnings ratio of -34.55 and a beta of 1.27.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.69. The company had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.35 billion. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The firm’s revenue was up 57.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($2.03) earnings per share. On average, equities analysts predict that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date was Thursday, March 28th. Micron Technology’s dividend payout ratio is presently -13.33%.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP Scott J. Deboer sold 40,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $110.31, for a total value of $4,412,400.00. Following the sale, the executive vice president now directly owns 158,617 shares in the company, valued at $17,497,041.27. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Micron Technology news, SVP Michael W. Bokan sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $115.55, for a total transaction of $1,733,250.00. Following the transaction, the senior vice president now owns 153,387 shares of the company’s stock, valued at $17,723,867.85. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Scott J. Deboer sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $110.31, for a total value of $4,412,400.00. Following the transaction, the executive vice president now directly owns 158,617 shares in the company, valued at approximately $17,497,041.27. The disclosure for this sale can be found here. Insiders have sold a total of 316,890 shares of company stock worth $35,485,387 over the last ninety days. Corporate insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on MU shares. JPMorgan Chase & Co. increased their price objective on shares of Micron Technology from $105.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. Fox Advisors upgraded Micron Technology from an “equal weight” rating to an “overweight” rating in a research note on Thursday, March 21st. Needham & Company LLC lifted their target price on Micron Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Rosenblatt Securities reiterated a “buy” rating and issued a $140.00 price target on shares of Micron Technology in a report on Monday, March 18th. Finally, StockNews.com raised shares of Micron Technology from a “sell” rating to a “hold” rating in a report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat.com, Micron Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.60.

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.