Mirador Capital Partners LP Acquires 8,920 Shares of Micron Technology, Inc. (NASDAQ:MU)

Mirador Capital Partners LP increased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 171.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,135 shares of the semiconductor manufacturer's stock after acquiring an additional 8,920 shares during the period. Mirador Capital Partners LP's holdings in Micron Technology were worth $1,228,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of MU. Brighton Jones LLC lifted its stake in shares of Micron Technology by 18.3% in the fourth quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer's stock worth $532,000 after buying an additional 976 shares in the last quarter. OLD National Bancorp IN lifted its stake in shares of Micron Technology by 18.3% in the fourth quarter. OLD National Bancorp IN now owns 5,587 shares of the semiconductor manufacturer's stock worth $470,000 after buying an additional 866 shares in the last quarter. Capital Investment Advisory Services LLC lifted its stake in shares of Micron Technology by 52.5% in the fourth quarter. Capital Investment Advisory Services LLC now owns 3,177 shares of the semiconductor manufacturer's stock worth $267,000 after buying an additional 1,094 shares in the last quarter. Crews Bank & Trust bought a new position in shares of Micron Technology in the fourth quarter worth approximately $59,000. Finally, Cibc World Market Inc. lifted its stake in shares of Micron Technology by 23.7% in the fourth quarter. Cibc World Market Inc. now owns 389,260 shares of the semiconductor manufacturer's stock worth $32,760,000 after buying an additional 74,522 shares in the last quarter. Institutional investors own 80.84% of the company's stock.

Micron Technology Price Performance

MU traded up $3.72 during trading on Monday, reaching $98.18. 16,832,283 shares of the company traded hands, compared to its average volume of 23,507,422. The company has a market cap of $109.72 billion, a P/E ratio of 28.29 and a beta of 1.21. 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 12-month low of $61.54 and a 12-month high of $157.54. The firm has a fifty day simple moving average of $82.55 and a 200 day simple moving average of $91.87.

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 for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $7.93 billion. During the same quarter in the prior year, the business earned $0.42 earnings per share. Micron Technology's revenue for the quarter was up 38.2% on a year-over-year basis. On average, equities analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given 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 0.47%. Micron Technology's dividend payout ratio is currently 11.03%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. UBS Group lowered their price objective on shares of Micron Technology from $130.00 to $92.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Wells Fargo & Company reissued an "equal weight" rating on shares of Micron Technology in a report on Monday, April 28th. Morgan Stanley dropped their price target on Micron Technology from $112.00 to $98.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 7th. Citigroup reduced their price objective on Micron Technology from $120.00 to $110.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Finally, Robert W. Baird increased their target price on Micron Technology from $130.00 to $163.00 and gave the company an "outperform" rating in a report on Friday, March 21st. Two research analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $126.48.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 164,769 shares of the company's stock, valued at approximately $15,847,482.42. This trade represents a 8.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $80.00, for a total value of $192,320.00. Following the sale, the director now directly owns 24,954 shares in the company, valued at $1,996,320. The trade was a 8.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate 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.