Advanced Portfolio Management LLC Decreases Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Advanced Portfolio Management LLC lessened its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 45.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 25,000 shares of the semiconductor manufacturer's stock after selling 20,597 shares during the period. Micron Technology accounts for about 2.5% of Advanced Portfolio Management LLC's investment portfolio, making the stock its 16th biggest holding. Advanced Portfolio Management LLC's holdings in Micron Technology were worth $2,104,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. E Fund Management Co. Ltd. boosted its stake in shares of Micron Technology by 31.8% in the fourth quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer's stock worth $3,062,000 after acquiring an additional 8,780 shares during the period. CIBC Private Wealth Group LLC boosted its stake in Micron Technology by 43.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 14,178 shares of the semiconductor manufacturer's stock worth $1,193,000 after purchasing an additional 4,264 shares during the period. Stablepoint Partners LLC bought a new position in Micron Technology in the 4th quarter worth approximately $569,000. Landscape Capital Management L.L.C. increased its holdings in shares of Micron Technology by 167.0% in the fourth quarter. Landscape Capital Management L.L.C. now owns 45,758 shares of the semiconductor manufacturer's stock worth $3,851,000 after purchasing an additional 28,621 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH boosted its stake in Micron Technology by 11.7% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 502,374 shares of the semiconductor manufacturer's stock valued at $42,280,000 after buying an additional 52,729 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company's stock.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 15,000 shares of the firm's stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the sale, the executive vice president now directly owns 164,769 shares in the company, valued at $15,847,482.42. This trade represents a 8.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the transaction, the director now directly owns 27,358 shares in the company, valued at approximately $2,542,378.94. The trade was a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.30% of the company's stock.

Micron Technology Stock Down 0.4 %

Micron Technology stock traded down $0.30 during midday trading on Monday, reaching $80.42. The company's stock had a trading volume of 12,499,628 shares, compared to its average volume of 23,283,197. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $157.54. The stock has a market capitalization of $89.88 billion, a P/E ratio of 23.18 and a beta of 1.18. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The stock's 50-day simple moving average is $83.63 and its 200-day simple moving average is $93.77.

Micron Technology (NASDAQ:MU - Get Free Report) last released its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping analysts' consensus estimates of $1.43 by $0.13. The company had revenue of $8.05 billion during the quarter, compared to analysts' expectations of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. Micron Technology's revenue for the quarter was up 38.2% on a year-over-year basis. During the same period last year, the business earned $0.42 EPS. On average, sell-side analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology's dividend payout ratio is presently 11.03%.

Analysts Set New Price Targets

MU has been the subject of a number of recent research reports. Royal Bank of Canada set a $125.00 target price on shares of Micron Technology in a report on Wednesday, March 19th. UBS Group decreased their price objective on shares of Micron Technology from $130.00 to $92.00 and set a "buy" rating for the company in a research note on Monday, April 28th. Citigroup reduced their price target on Micron Technology from $120.00 to $110.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Cantor Fitzgerald restated an "overweight" rating and set a $130.00 price objective on shares of Micron Technology in a report on Friday, March 21st. Finally, Wells Fargo & Company reiterated an "equal weight" rating on shares of Micron Technology in a research note on Monday, April 28th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Micron Technology currently has a consensus rating of "Moderate Buy" and a consensus target price of $127.04.

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.