Snowden Capital Advisors LLC Sells 2,962 Shares of Micron Technology, Inc. (NASDAQ:MU)

Snowden Capital Advisors LLC lessened its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 11.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,232 shares of the semiconductor manufacturer's stock after selling 2,962 shares during the period. Snowden Capital Advisors LLC's holdings in Micron Technology were worth $1,874,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of MU. Shell Asset Management Co. raised its position in shares of Micron Technology by 2.2% in the fourth quarter. Shell Asset Management Co. now owns 28,397 shares of the semiconductor manufacturer's stock valued at $2,390,000 after purchasing an additional 617 shares during the period. Raiffeisen Bank International AG acquired a new position in Micron Technology in the 4th quarter valued at $7,994,000. ProShare Advisors LLC raised its holdings in Micron Technology by 16.9% in the 4th quarter. ProShare Advisors LLC now owns 1,650,957 shares of the semiconductor manufacturer's stock worth $138,945,000 after acquiring an additional 238,687 shares during the period. Quantinno Capital Management LP lifted its position in Micron Technology by 82.7% during the 4th quarter. Quantinno Capital Management LP now owns 133,619 shares of the semiconductor manufacturer's stock worth $11,245,000 after acquiring an additional 60,468 shares during the last quarter. Finally, Pathstone Holdings LLC boosted its holdings in Micron Technology by 0.3% during the fourth quarter. Pathstone Holdings LLC now owns 209,326 shares of the semiconductor manufacturer's stock valued at $17,621,000 after acquiring an additional 643 shares during the period. 80.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on MU shares. Wedbush reiterated an "underperform" rating on shares of Micron Technology in a research note on Monday, April 28th. Rosenblatt Securities dropped their price target on Micron Technology from $250.00 to $200.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Robert W. Baird increased their price objective on Micron Technology from $130.00 to $163.00 and gave the company an "outperform" rating in a research report on Friday, March 21st. KGI Securities upgraded shares of Micron Technology to a "strong-buy" rating in a research note on Friday, February 21st. Finally, UBS Group cut their target price on shares of Micron Technology from $130.00 to $92.00 and set a "buy" rating for the company in a research note on Monday, April 28th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $126.48.

Micron Technology Stock Performance

NASDAQ:MU opened at $98.00 on Friday. The stock has a market capitalization of $109.52 billion, a P/E ratio of 28.24 and a beta of 1.21. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $157.54. The firm has a 50 day moving average of $83.13 and a 200-day moving average of $92.61.

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 (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.13. The firm had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business's revenue for the quarter was up 38.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 EPS. As a group, 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. Investors of record on Monday, March 31st were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.46 annualized dividend and a yield of 0.47%. Micron Technology's dividend payout ratio (DPR) is 11.03%.

Insider Buying and Selling

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were 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 in the company, valued at approximately $2,542,378.94. This represents a 8.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the sale, the executive vice president now owns 164,769 shares of the company's stock, valued at approximately $15,847,482.42. This represents a 8.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,808 shares of company stock worth $1,858,424 in the last 90 days. Corporate insiders own 0.30% of the company's stock.

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.

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