Wealth Enhancement Advisory Services LLC Buys 32,502 Shares of Micron Technology, Inc. (NASDAQ:MU)

Wealth Enhancement Advisory Services LLC grew its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 10.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 350,612 shares of the semiconductor manufacturer's stock after purchasing an additional 32,502 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Micron Technology were worth $29,507,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Norges Bank bought a new stake in shares of Micron Technology in the fourth quarter valued at approximately $1,470,875,000. Capital World Investors raised its stake in Micron Technology by 63.7% during the fourth 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 in the last quarter. FMR LLC raised its stake in Micron Technology by 34.6% during the fourth 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 in the last quarter. Capital Research Global Investors increased its stake in shares of Micron Technology by 139.7% in the fourth quarter. Capital Research Global Investors now owns 16,281,620 shares of the semiconductor manufacturer's stock valued at $1,370,280,000 after buying an additional 9,489,579 shares in the last quarter. Finally, Capital International Investors increased its stake in shares of Micron Technology by 36.3% in the fourth quarter. Capital International Investors now owns 16,437,080 shares of the semiconductor manufacturer's stock valued at $1,383,442,000 after buying an additional 4,375,232 shares in the last quarter. Institutional investors own 80.84% of the company's stock.

Micron Technology Stock Down 2.5%

NASDAQ:MU traded down $2.38 during trading hours on Friday, hitting $94.42. 23,746,837 shares of the company traded hands, compared to its average volume of 23,536,896. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The firm's 50-day simple moving average is $82.55 and its 200-day simple moving average is $91.98. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $157.54. The company has a market cap of $105.52 billion, a PE ratio of 27.21 and a beta of 1.21.

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, beating the consensus estimate of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.93 billion. During the same period last year, the firm posted $0.42 EPS. The business's revenue was up 38.2% compared to the same quarter last year. Equities analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The business 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 0.49%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology's payout ratio is presently 11.03%.

Insider Transactions at Micron Technology

In other news, 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 transaction, the director now directly owns 27,358 shares of the company's stock, valued at approximately $2,542,378.94. The trade was a 8.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the business'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 value of $1,442,700.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,808 shares of company stock valued at $1,858,424. 0.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on MU shares. Barclays decreased their price target on Micron Technology from $115.00 to $95.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Royal Bank of Canada set a $125.00 price objective on Micron Technology in a report on Wednesday, March 19th. KGI Securities upgraded Micron Technology to a "strong-buy" rating in a research note on Friday, February 21st. China Renaissance cut Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 target price on the stock. in a research note on Wednesday, March 26th. Finally, JPMorgan Chase & Co. dropped their price objective on Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a research note on Friday, March 21st. Two analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $126.48.

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.