Verdence Capital Advisors LLC Has $9.12 Million Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Verdence Capital Advisors LLC trimmed its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 2.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 104,911 shares of the semiconductor manufacturer's stock after selling 2,312 shares during the period. Micron Technology comprises 0.7% of Verdence Capital Advisors LLC's holdings, making the stock its 28th largest position. Verdence Capital Advisors LLC's holdings in Micron Technology were worth $9,116,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Twin Capital Management Inc. increased its position in Micron Technology by 0.5% during the fourth quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer's stock valued at $1,688,000 after acquiring an additional 108 shares during the last quarter. Cim Investment Management Inc. grew its holdings in shares of Micron Technology by 0.5% in the fourth quarter. Cim Investment Management Inc. now owns 23,062 shares of the semiconductor manufacturer's stock worth $1,941,000 after purchasing an additional 114 shares during the last quarter. Hazlett Burt & Watson Inc. grew its holdings in shares of Micron Technology by 1.1% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 10,481 shares of the semiconductor manufacturer's stock worth $883,000 after purchasing an additional 119 shares during the last quarter. FineMark National Bank & Trust grew its holdings in shares of Micron Technology by 3.9% in the fourth quarter. FineMark National Bank & Trust now owns 3,640 shares of the semiconductor manufacturer's stock worth $306,000 after purchasing an additional 136 shares during the last quarter. Finally, Carson Advisory Inc. grew its holdings in shares of Micron Technology by 1.6% in the fourth quarter. Carson Advisory Inc. now owns 8,592 shares of the semiconductor manufacturer's stock worth $723,000 after purchasing an additional 139 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $125.12, for a total transaction of $1,876,800.00. Following the sale, the executive vice president directly owned 148,167 shares of the company's stock, valued at approximately $18,538,655.04. This represents a 9.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Steven J. Gomo sold 7,000 shares of the stock in a transaction on Friday, June 27th. The stock was sold at an average price of $125.15, for a total value of $876,050.00. Following the completion of the sale, the director directly owned 22,762 shares in the company, valued at $2,848,664.30. This represents a 23.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 254,446 shares of company stock worth $31,154,717 over the last 90 days. 0.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

MU has been the topic of several recent research reports. Morgan Stanley increased their target price on shares of Micron Technology from $98.00 to $135.00 and gave the stock an "equal weight" rating in a report on Thursday, June 26th. China Renaissance cut shares of Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price objective for the company. in a research note on Wednesday, March 26th. Raymond James Financial lifted their price objective on shares of Micron Technology from $120.00 to $150.00 and gave the company an "outperform" rating in a research note on Thursday, June 26th. Citigroup lifted their target price on shares of Micron Technology from $130.00 to $150.00 and gave the company a "buy" rating in a report on Thursday, June 26th. Finally, TD Cowen lifted their target price on shares of Micron Technology from $125.00 to $150.00 and gave the company a "buy" rating in a report on Thursday, June 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $146.44.

Micron Technology Stock Performance

NASDAQ:MU traded down $3.17 during midday trading on Thursday, reaching $113.26. The stock had a trading volume of 34,575,389 shares, compared to its average volume of 23,355,946. The firm has a fifty day simple moving average of $110.26 and a two-hundred day simple moving average of $96.52. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $129.85. The company has a quick ratio of 1.89, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. The stock has a market cap of $126.75 billion, a P/E ratio of 20.41 and a beta of 1.35.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, beating analysts' consensus estimates of $1.57 by $0.34. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. The company had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $8.83 billion. During the same quarter in the prior year, the company posted $0.62 EPS. On average, equities analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th will be issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend is Monday, July 7th. Micron Technology's dividend payout ratio is presently 8.29%.

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.