Adage Capital Partners GP L.L.C. Buys 105,700 Shares of Micron Technology, Inc. (NASDAQ:MU)

Adage Capital Partners GP L.L.C. increased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 9.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,240,803 shares of the semiconductor manufacturer's stock after buying an additional 105,700 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.11% of Micron Technology worth $104,426,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Coppell Advisory Solutions LLC lifted its position in Micron Technology by 23.3% in the 4th quarter. Coppell Advisory Solutions LLC now owns 788 shares of the semiconductor manufacturer's stock valued at $67,000 after acquiring an additional 149 shares in the last quarter. Pinebridge Investments L.P. lifted its holdings in shares of Micron Technology by 31.8% in the fourth quarter. Pinebridge Investments L.P. now owns 98,640 shares of the semiconductor manufacturer's stock valued at $8,302,000 after purchasing an additional 23,773 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Micron Technology by 198.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,545,882 shares of the semiconductor manufacturer's stock valued at $550,903,000 after purchasing an additional 4,352,225 shares in the last quarter. Alta Advisers Ltd boosted its position in shares of Micron Technology by 23.1% during the fourth quarter. Alta Advisers Ltd now owns 3,694 shares of the semiconductor manufacturer's stock worth $311,000 after buying an additional 694 shares during the period. Finally, Arvin Capital Management LP acquired a new stake in Micron Technology in the 4th quarter valued at approximately $5,462,000. 80.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MU has been the subject of a number of recent analyst reports. Wells Fargo & Company cut their price target on shares of Micron Technology from $140.00 to $130.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Barclays cut their target price on shares of Micron Technology from $115.00 to $95.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Morgan Stanley upped their price objective on Micron Technology from $91.00 to $112.00 and gave the company an "equal weight" rating in a research note on Friday, March 21st. JPMorgan Chase & Co. reduced their target price on Micron Technology from $145.00 to $135.00 and set an "overweight" rating for the company in a research note on Friday, March 21st. Finally, Royal Bank of Canada set a $125.00 price target on Micron Technology in a research note on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $128.56.

Micron Technology Price Performance

Shares of Micron Technology stock traded up $2.36 during trading on Friday, reaching $79.78. 19,715,387 shares of the company's stock were exchanged, compared to its average volume of 23,282,027. The firm's 50-day moving average price is $85.71 and its 200 day moving average price is $94.89. The company has a market cap of $89.16 billion, a P/E ratio of 22.99 and a beta of 1.18. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $157.54.

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 company had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm's quarterly revenue was up 38.2% compared to the same quarter last year. During the same period last year, the company posted $0.42 EPS. As a group, research analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

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

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, the director now owns 27,358 shares in the company, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company's stock.

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.