Cary Street Partners Financial LLC Takes $1.13 Million Position in Micron Technology, Inc. (NASDAQ:MU)

Cary Street Partners Financial LLC bought a new stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 13,406 shares of the semiconductor manufacturer's stock, valued at approximately $1,128,000.

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

Micron Technology Trading Up 0.8 %

NASDAQ:MU traded up $0.71 on Friday, reaching $85.86. The stock had a trading volume of 13,006,441 shares, compared to its average volume of 23,288,208. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $157.54. The company has a market cap of $95.95 billion, a price-to-earnings ratio of 24.74 and a beta of 1.21. The firm's fifty day moving average is $82.62 and its two-hundred day moving average is $93.07. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.43 by $0.13. The firm had revenue of $8.05 billion for the quarter, compared to analyst estimates 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 was up 38.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.42 earnings per share. Equities analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date was Monday, March 31st. Micron Technology's dividend payout ratio is currently 11.03%.

Insider Activity

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $80.00, for a total value of $192,320.00. Following the transaction, the director now directly owns 24,954 shares in the company, valued at $1,996,320. This trade represents a 8.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the business's stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value of $1,442,700.00. Following the sale, the executive vice president now owns 164,769 shares of the company's stock, valued at $15,847,482.42. The trade was a 8.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,808 shares of company stock valued at $1,858,424 in the last 90 days. 0.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

MU has been the topic of a number of research analyst reports. Morgan Stanley cut their price objective on shares of Micron Technology from $112.00 to $98.00 and set an "equal weight" rating on the stock in a report on Wednesday. Wedbush reiterated an "underperform" rating on shares of Micron Technology in a research report on Monday, April 28th. Royal Bank of Canada set a $125.00 target price on Micron Technology in a research report on Wednesday, March 19th. Rosenblatt Securities decreased their price target on shares of Micron Technology from $250.00 to $200.00 and set a "buy" rating for the company in a research note on Friday, March 21st. Finally, Barclays decreased their price target on Micron Technology from $115.00 to $95.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Two analysts have rated the stock with a sell rating, four have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $126.48.

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.