Integrated Wealth Concepts LLC Purchases 13,161 Shares of Micron Technology, Inc. (NASDAQ:MU)

Integrated Wealth Concepts LLC raised its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 29.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,205 shares of the semiconductor manufacturer's stock after buying an additional 13,161 shares during the period. Integrated Wealth Concepts LLC's holdings in Micron Technology were worth $4,899,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Trivant Custom Portfolio Group LLC raised its position in Micron Technology by 20.0% during the fourth quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer's stock valued at $50,000 after purchasing an additional 100 shares in the last quarter. Xcel Wealth Management LLC boosted its position in Micron Technology by 1.8% during the fourth quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer's stock valued at $518,000 after buying an additional 108 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its stake in shares of Micron Technology by 3.8% during the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer's stock valued at $250,000 after buying an additional 108 shares during the last quarter. Twin Capital Management Inc. increased its holdings in shares of Micron Technology by 0.5% in the fourth quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer's stock worth $1,688,000 after buying an additional 108 shares during the period. Finally, Lebenthal Global Advisors LLC lifted its stake in shares of Micron Technology by 1.5% in the 4th quarter. Lebenthal Global Advisors LLC now owns 7,474 shares of the semiconductor manufacturer's stock valued at $629,000 after acquiring an additional 114 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Citigroup decreased their price target 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. Royal Bank of Canada set a $125.00 target price on shares of Micron Technology in a research note on Wednesday, March 19th. JPMorgan Chase & Co. cut their price target on shares of Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a report on Friday, March 21st. Wedbush reaffirmed an "underperform" rating on shares of Micron Technology in a research note on Monday. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $130.00 target price on shares of Micron Technology in a research note on Friday, March 21st. Two investment 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 company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $127.04.

Insider Buying and Selling at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the company'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 in the company, valued at $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 available at this link. Also, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the transaction, the executive vice president now owns 164,769 shares in the company, valued at $15,847,482.42. This trade represents a 8.34 % 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.

Micron Technology Stock Down 1.8 %

MU traded down $1.41 during trading on Wednesday, hitting $75.48. 10,388,255 shares of the company's stock traded hands, compared to its average volume of 23,217,594. The stock has a market capitalization of $84.35 billion, a price-to-earnings ratio of 21.75 and a beta of 1.18. The company's 50 day simple moving average is $84.67 and its two-hundred day simple moving average is $94.50. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $157.54. 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 (NASDAQ:MU - Get Free Report) last released its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, beating the consensus estimate of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.05 billion for the quarter, compared to analysts' expectations of $7.93 billion. During the same period last year, the firm posted $0.42 earnings per share. Micron Technology's revenue was up 38.2% compared to the same quarter last year. Analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders 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 0.61%. The ex-dividend date was Monday, March 31st. Micron Technology's dividend payout ratio is 11.03%.

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.