Wealth Alliance Increases Position in Micron Technology, Inc. (NASDAQ:MU)

Wealth Alliance increased its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 4.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,908 shares of the semiconductor manufacturer’s stock after buying an additional 179 shares during the period. Wealth Alliance’s holdings in Micron Technology were worth $334,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sandy Spring Bank lifted its position in shares of Micron Technology by 11.1% during the fourth quarter. Sandy Spring Bank now owns 1,305 shares of the semiconductor manufacturer’s stock worth $111,000 after purchasing an additional 130 shares in the last quarter. HMS Capital Management LLC lifted its holdings in Micron Technology by 0.7% in the 4th quarter. HMS Capital Management LLC now owns 19,842 shares of the semiconductor manufacturer’s stock worth $1,693,000 after buying an additional 138 shares in the last quarter. Huntington National Bank boosted its position in Micron Technology by 6.0% in the 3rd quarter. Huntington National Bank now owns 2,652 shares of the semiconductor manufacturer’s stock valued at $180,000 after buying an additional 149 shares during the last quarter. Allworth Financial LP grew its stake in shares of Micron Technology by 3.0% during the fourth quarter. Allworth Financial LP now owns 5,125 shares of the semiconductor manufacturer’s stock valued at $437,000 after acquiring an additional 150 shares in the last quarter. Finally, Homestead Advisers Corp increased its position in shares of Micron Technology by 12.5% during the third quarter. Homestead Advisers Corp now owns 1,372 shares of the semiconductor manufacturer’s stock worth $93,000 after acquiring an additional 152 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Micron Technology news, CEO Sanjay Mehrotra sold 45,000 shares of the company’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $90.00, for a total value of $4,050,000.00. Following the completion of the sale, the chief executive officer now directly owns 788,557 shares in the company, valued at $70,970,130. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Sanjay Mehrotra sold 45,000 shares of Micron Technology stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $90.00, for a total transaction of $4,050,000.00. Following the transaction, the chief executive officer now directly owns 788,557 shares of the company’s stock, valued at $70,970,130. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total transaction of $583,377.00. Following the completion of the sale, the executive vice president now directly owns 148,817 shares of the company’s stock, valued at $17,753,868.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 313,890 shares of company stock worth $33,617,027. 0.32% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

MU has been the subject of a number of recent analyst reports. Raymond James raised their price objective on Micron Technology from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. Mizuho lifted their price target on shares of Micron Technology from $105.00 to $124.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Evercore ISI increased their price objective on shares of Micron Technology from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, December 21st. JPMorgan Chase & Co. boosted their target price on shares of Micron Technology from $105.00 to $130.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. Finally, KeyCorp increased their price target on shares of Micron Technology from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat.com, Micron Technology currently has an average rating of “Moderate Buy” and an average price target of $122.20.

Micron Technology Stock Performance

Shares of NASDAQ MU opened at $111.93 on Friday. Micron Technology, Inc. has a 12-month low of $58.03 and a 12-month high of $130.54. The company has a market cap of $123.95 billion, a PE ratio of -32.44 and a beta of 1.27. The stock has a 50 day simple moving average of $102.53 and a 200-day simple moving average of $86.40. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.69. The company had revenue of $5.82 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 57.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($2.03) EPS. On average, equities research analysts forecast that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were paid a dividend of $0.115 per share. The ex-dividend date was Thursday, March 28th. This represents a $0.46 annualized dividend and a yield of 0.41%. Micron Technology’s payout ratio is -13.33%.

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.