Vident Advisory LLC Raises Holdings in Micron Technology, Inc. (NASDAQ:MU)

Vident Advisory LLC lifted its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 14.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 373,599 shares of the semiconductor manufacturer's stock after acquiring an additional 46,873 shares during the period. Vident Advisory LLC's holdings in Micron Technology were worth $31,442,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Beacon Capital Management LLC raised its stake in Micron Technology by 114.9% in the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock valued at $31,000 after buying an additional 200 shares in the last quarter. Midwest Capital Advisors LLC purchased a new position in shares of Micron Technology in the 4th quarter valued at approximately $33,000. Activest Wealth Management increased its stake in Micron Technology by 583.3% in the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer's stock valued at $34,000 after buying an additional 350 shares during the period. Comprehensive Financial Planning Inc. PA purchased a new stake in Micron Technology in the 4th quarter valued at approximately $34,000. Finally, Curio Wealth LLC acquired a new position in Micron Technology during the fourth quarter worth $34,000. Hedge funds and other institutional investors own 80.84% of the company's stock.

Micron Technology Price Performance

Shares of MU stock traded down $1.12 on Friday, hitting $93.71. 10,080,529 shares of the company's stock were exchanged, compared to its average volume of 23,381,768. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $157.54. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The company has a 50 day moving average of $82.99 and a 200 day moving average of $92.56. The stock has a market cap of $104.72 billion, a P/E ratio of 27.00 and a beta of 1.21.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping analysts' consensus estimates of $1.43 by $0.13. The company had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. Micron Technology's revenue was up 38.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.42 earnings per share. On average, equities research analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $0.115 per share. The ex-dividend date was Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.49%. Micron Technology's dividend payout ratio is presently 11.03%.

Wall Street Analysts Forecast Growth

MU has been the subject of several research reports. KGI Securities raised Micron Technology to a "strong-buy" rating in a research note on Friday, February 21st. Wells Fargo & Company reiterated an "equal weight" rating on shares of Micron Technology in a research report on Monday, April 28th. Robert W. Baird boosted their price objective on shares of Micron Technology from $130.00 to $163.00 and gave the company an "outperform" rating in a research note on Friday, March 21st. Cantor Fitzgerald reissued an "overweight" rating and set a $130.00 target price on shares of Micron Technology in a research report on Friday, March 21st. Finally, Citigroup reduced their price objective on Micron Technology from $120.00 to $110.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Micron Technology has a consensus rating of "Moderate Buy" and a consensus target price of $126.48.

Insider Transactions at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $80.00, for a total value of $192,320.00. Following the transaction, the director now directly owns 24,954 shares of the company's stock, valued at $1,996,320. The trade was a 8.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 164,769 shares of the company's stock, valued at approximately $15,847,482.42. The trade was a 8.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,808 shares of company stock valued at $1,858,424 over the last three months. Company insiders own 0.30% of the company's stock.

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.