Lbmc Investment Advisors LLC Sells 3,544 Shares of Micron Technology, Inc. (NASDAQ:MU)

Lbmc Investment Advisors LLC lessened its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 52.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,246 shares of the semiconductor manufacturer's stock after selling 3,544 shares during the quarter. Lbmc Investment Advisors LLC's holdings in Micron Technology were worth $282,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MU. Vanguard Group Inc. raised its position in shares of Micron Technology by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer's stock worth $8,403,982,000 after acquiring an additional 888,087 shares during the period. FMR LLC raised its stake in shares of 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 buying an additional 12,249,341 shares during the period. Capital World Investors raised its stake in shares of 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 buying an additional 15,993,036 shares during the period. Geode Capital Management LLC raised its stake in shares of 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 buying an additional 726,282 shares during the period. Finally, Norges Bank acquired a new position in Micron Technology during the fourth quarter worth $1,470,875,000. Institutional investors and hedge funds own 80.84% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Barclays reduced their price target on shares of Micron Technology from $115.00 to $95.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Citigroup dropped their price objective on Micron Technology from $120.00 to $110.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Morgan Stanley dropped their target price on Micron Technology from $112.00 to $98.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 7th. Wall Street Zen downgraded Micron Technology from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. Finally, Wedbush reiterated an "underperform" rating on shares of Micron Technology in a report on Monday, April 28th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Micron Technology has a consensus rating of "Moderate Buy" and an average target price of $128.20.

Micron Technology Stock Up 4.5%

Shares of NASDAQ MU traded up $4.61 during mid-day trading on Thursday, reaching $107.86. The company had a trading volume of 20,412,894 shares, compared to its average volume of 23,006,336. 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 twelve month low of $61.54 and a twelve month high of $157.54. The stock's 50 day moving average is $83.19 and its 200-day moving average is $92.03. The stock has a market capitalization of $120.54 billion, a PE ratio of 31.08 and a beta of 1.21.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.13. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm had revenue of $8.05 billion for the quarter, compared to analysts' expectations of $7.93 billion. During the same period in the prior year, the firm earned $0.42 earnings per share. The company's quarterly revenue was up 38.2% compared to the same quarter last year. As a group, equities analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a $0.115 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.46 annualized dividend and a dividend yield of 0.43%. Micron Technology's dividend payout ratio is currently 11.03%.

Insider Buying and Selling

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $80.00, for a total transaction of $192,320.00. Following the transaction, the director now owns 24,954 shares in the company, valued at approximately $1,996,320. This trade represents a 8.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP April S. Arnzen sold 15,000 shares of the firm's stock in a transaction on 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 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 disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

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.