Integrated Advisors Network LLC Lowers Position in Micron Technology, Inc. (NASDAQ:MU)

Integrated Advisors Network LLC cut its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 78.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,934 shares of the semiconductor manufacturer's stock after selling 17,798 shares during the quarter. Integrated Advisors Network LLC's holdings in Micron Technology were worth $415,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MU. Vanguard Group Inc. lifted its stake in shares of Micron Technology by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer's stock valued at $8,403,982,000 after buying an additional 888,087 shares in the last quarter. FMR LLC increased its holdings in Micron Technology by 34.6% during the 4th quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer's stock worth $4,012,114,000 after acquiring an additional 12,249,341 shares during the period. Capital World Investors increased its holdings in Micron Technology by 63.7% during the 4th quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer's stock worth $3,458,673,000 after acquiring an additional 15,993,036 shares during the period. Geode Capital Management LLC increased its holdings in Micron Technology by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 24,449,827 shares of the semiconductor manufacturer's stock worth $2,052,973,000 after acquiring an additional 726,282 shares during the period. Finally, Norges Bank bought a new stake in Micron Technology during the 4th quarter worth approximately $1,470,875,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of Micron Technology 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $80.00, for a total transaction of $192,320.00. Following the transaction, the director now directly owns 24,954 shares in the company, valued at $1,996,320. This represents a 8.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,808 shares of company stock worth $1,858,424 over the last three months. 0.30% of the stock is currently owned by company insiders.

Micron Technology Stock Down 2.5%

NASDAQ MU traded down $2.38 during trading hours on Friday, reaching $94.42. 23,746,837 shares of the company's stock traded hands, compared to its average volume of 23,534,417. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $157.54. The firm has a market cap of $105.52 billion, a PE ratio of 27.21 and a beta of 1.21. The firm has a 50-day simple moving average of $82.55 and a 200 day simple moving average of $91.87. 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 issued its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.13. The business 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%. The business's revenue for the quarter was up 38.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.42 earnings per share. Sell-side analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.115 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.49%. Micron Technology's dividend payout ratio is presently 11.03%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Citigroup decreased their target price on shares of 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 reaffirmed an "overweight" rating and set a $130.00 target price on shares of Micron Technology in a report on Friday, March 21st. Wall Street Zen lowered shares of Micron Technology from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Robert W. Baird increased their target price on shares of Micron Technology from $130.00 to $163.00 and gave the company an "outperform" rating in a report on Friday, March 21st. Finally, China Renaissance lowered shares of Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price target on the stock. in a report on Wednesday, March 26th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus 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.