Intellectus Partners LLC Purchases 7,238 Shares of Micron Technology, Inc. (NASDAQ:MU)

Intellectus Partners LLC grew its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 11.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,071 shares of the semiconductor manufacturer's stock after acquiring an additional 7,238 shares during the period. Micron Technology comprises about 1.5% of Intellectus Partners LLC's investment portfolio, making the stock its 8th biggest position. Intellectus Partners LLC's holdings in Micron Technology were worth $6,096,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Brighton Jones LLC grew its stake in shares of Micron Technology by 18.3% during the fourth quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer's stock valued at $532,000 after buying an additional 976 shares during the last quarter. Stratos Wealth Advisors LLC lifted its holdings in shares of Micron Technology by 2.5% during the 4th quarter. Stratos Wealth Advisors LLC now owns 8,208 shares of the semiconductor manufacturer's stock valued at $691,000 after purchasing an additional 204 shares during the last quarter. Confluence Wealth Services Inc. lifted its holdings in shares of Micron Technology by 81.2% during the 4th quarter. Confluence Wealth Services Inc. now owns 3,704 shares of the semiconductor manufacturer's stock valued at $312,000 after purchasing an additional 1,660 shares during the last quarter. Bleakley Financial Group LLC lifted its holdings in shares of Micron Technology by 6.9% during the 4th quarter. Bleakley Financial Group LLC now owns 50,887 shares of the semiconductor manufacturer's stock valued at $4,283,000 after purchasing an additional 3,268 shares during the last quarter. Finally, Adero Partners LLC raised its stake in Micron Technology by 9.1% in the 4th quarter. Adero Partners LLC now owns 3,183 shares of the semiconductor manufacturer's stock worth $268,000 after acquiring an additional 266 shares during the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 164,769 shares in the company, valued at $15,847,482.42. This represents a 8.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company'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 completion of the sale, the director now owns 24,954 shares of the company's stock, valued at $1,996,320. This trade represents a 8.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Wedbush restated an "underperform" rating on shares of Micron Technology in a research report on Monday, April 28th. 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 research report on Wednesday, March 26th. Robert W. Baird boosted their target price on Micron Technology from $130.00 to $163.00 and gave the company an "outperform" rating in a research report on Friday, March 21st. Wall Street Zen lowered Micron Technology from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. Finally, UBS Group upped their price objective on Micron Technology from $92.00 to $120.00 and gave the stock a "buy" rating in a research report on Thursday. Two equities 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 issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $128.20.

Micron Technology Stock Performance

MU stock traded up $2.27 during midday trading on Friday, reaching $108.56. The company had a trading volume of 20,687,183 shares, compared to its average volume of 23,587,894. 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 stock has a 50 day moving average price of $83.97 and a 200 day moving average price of $92.17. The firm has a market capitalization of $121.32 billion, a PE ratio of 31.29 and a beta of 1.28. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $157.54.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly 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. The business had revenue of $8.05 billion for the quarter, compared to analysts' expectations of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business's quarterly revenue was up 38.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.42 EPS. Analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date was Monday, March 31st. Micron Technology's dividend payout ratio (DPR) is 11.03%.

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.