Micron Technology, Inc. (NASDAQ:MU) Stake Increased by Advisor Resource Council

Advisor Resource Council increased its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 97.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,100 shares of the semiconductor manufacturer’s stock after acquiring an additional 3,004 shares during the period. Advisor Resource Council’s holdings in Micron Technology were worth $719,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in Micron Technology by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 94,984,775 shares of the semiconductor manufacturer’s stock worth $8,106,001,000 after buying an additional 755,588 shares during the last quarter. Sanders Capital LLC increased its position in Micron Technology by 2.3% during the fourth quarter. Sanders Capital LLC now owns 22,583,348 shares of the semiconductor manufacturer’s stock worth $1,927,263,000 after buying an additional 503,923 shares during the last quarter. Wellington Management Group LLP increased its position in Micron Technology by 43.4% during the third quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock worth $1,182,608,000 after buying an additional 5,257,201 shares during the last quarter. Morgan Stanley increased its position in Micron Technology by 19.7% during the third quarter. Morgan Stanley now owns 17,303,400 shares of the semiconductor manufacturer’s stock worth $1,177,151,000 after buying an additional 2,852,688 shares during the last quarter. Finally, Capital International Investors increased its position in Micron Technology by 2.3% during the fourth quarter. Capital International Investors now owns 15,905,621 shares of the semiconductor manufacturer’s stock worth $1,357,392,000 after buying an additional 363,902 shares during the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MU has been the topic of several analyst reports. Argus raised shares of Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a research report on Thursday, March 21st. StockNews.com raised Micron Technology from a “sell” rating to a “hold” rating in a research report on Friday, March 22nd. KeyCorp raised their price target on Micron Technology from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. Raymond James raised their price target on Micron Technology from $130.00 to $160.00 and gave the company an “outperform” rating in a research report on Friday, June 21st. Finally, UBS Group lowered their price target on Micron Technology from $155.00 to $153.00 and set a “buy” rating on the stock in a research report on Thursday, June 27th. Two research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $158.52.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $135.86, for a total value of $664,355.40. Following the completion of the transaction, the executive vice president now owns 142,321 shares of the company’s stock, valued at approximately $19,335,731.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $135.86, for a total value of $664,355.40. Following the completion of the transaction, the executive vice president now owns 142,321 shares of the company’s stock, valued at approximately $19,335,731.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sanjay Mehrotra sold 34,284 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $152.28, for a total transaction of $5,220,767.52. Following the completion of the transaction, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at approximately $109,496,781.72. The disclosure for this sale can be found here. In the last 90 days, insiders sold 257,730 shares of company stock valued at $31,921,649. Company insiders own 0.32% of the company’s stock.

Micron Technology Price Performance

Shares of Micron Technology stock traded up $4.23 during midday trading on Thursday, reaching $136.82. The company had a trading volume of 14,507,146 shares, compared to its average volume of 27,836,970. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $151.71 billion, a price-to-earnings ratio of -96.35 and a beta of 1.18. The stock has a fifty day simple moving average of $128.92 and a 200 day simple moving average of $107.17. Micron Technology, Inc. has a 1-year low of $60.50 and a 1-year high of $157.54.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.14. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The firm had revenue of $6.81 billion during the quarter, compared to analyst estimates of $6.67 billion. During the same quarter in the previous year, the business earned ($1.57) EPS. The business’s quarterly revenue was up 81.5% compared to the same quarter last year. As a group, equities research analysts forecast that Micron Technology, Inc. will post 0.58 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th will be issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend is Monday, July 8th. Micron Technology’s dividend payout ratio is presently -32.39%.

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.