Vident Advisory LLC Grows Position in Micron Technology, Inc. (NASDAQ:MU)

Vident Advisory LLC raised its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 14.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 373,599 shares of the semiconductor manufacturer's stock after buying an additional 46,873 shares during the quarter. Vident Advisory LLC's holdings in Micron Technology were worth $31,442,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. E Fund Management Co. Ltd. lifted its position in shares of Micron Technology by 31.8% during the fourth quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer's stock valued at $3,062,000 after buying an additional 8,780 shares during the last quarter. CIBC Private Wealth Group LLC increased its holdings in shares of Micron Technology by 43.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 14,178 shares of the semiconductor manufacturer's stock valued at $1,193,000 after acquiring an additional 4,264 shares in the last quarter. Stablepoint Partners LLC acquired a new position in shares of Micron Technology during the fourth quarter valued at about $569,000. Landscape Capital Management L.L.C. increased its holdings in shares of Micron Technology by 167.0% during the fourth quarter. Landscape Capital Management L.L.C. now owns 45,758 shares of the semiconductor manufacturer's stock valued at $3,851,000 after acquiring an additional 28,621 shares in the last quarter. Finally, Duquesne Family Office LLC acquired a new position in shares of Micron Technology during the fourth quarter valued at about $34,412,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Price Performance

Shares of NASDAQ MU opened at $98.00 on Monday. The stock has a market capitalization of $109.52 billion, a price-to-earnings ratio of 28.24 and a beta of 1.21. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $157.54. The firm's 50 day simple moving average is $83.13 and its 200-day simple moving average is $92.56. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same quarter last year, the firm posted $0.42 EPS. The business's revenue was up 38.2% on a year-over-year basis. Analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.115 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a yield of 0.47%. Micron Technology's payout ratio is currently 11.03%.

Analyst Upgrades and Downgrades

MU has been the topic of several recent analyst reports. Cantor Fitzgerald restated an "overweight" rating and set a $130.00 price objective on shares of Micron Technology in a report on Friday, March 21st. Citigroup cut their price objective on shares of Micron Technology from $120.00 to $110.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Wedbush restated an "underperform" rating on shares of Micron Technology in a report on Monday, April 28th. Morgan Stanley cut their price objective on shares of Micron Technology from $112.00 to $98.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 7th. Finally, Rosenblatt Securities cut their price objective on shares of Micron Technology from $250.00 to $200.00 and set a "buy" rating on the stock in a report on Friday, March 21st. Two equities research 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, the company presently has an average rating of "Moderate Buy" and an average price target of $126.48.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the firm's stock in a transaction 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 of the company's stock, valued at $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 available through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the completion of the sale, the director now directly owns 27,358 shares of the company's stock, valued at $2,542,378.94. This trade represents a 8.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,808 shares of company stock worth $1,858,424. Corporate insiders own 0.30% of the company's stock.

Micron Technology Company 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.

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