Kovitz Investment Group Partners LLC Acquires 83,718 Shares of Micron Technology, Inc. (NASDAQ:MU)

Kovitz Investment Group Partners LLC grew its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 64.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 213,433 shares of the semiconductor manufacturer's stock after purchasing an additional 83,718 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Micron Technology were worth $17,963,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Beacon Capital Management LLC lifted its stake in Micron Technology by 114.9% during 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 stake in shares of Micron Technology in the 4th quarter valued at approximately $33,000. Activest Wealth Management lifted its position in shares of 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 acquiring an additional 350 shares in the last quarter. Comprehensive Financial Planning Inc. PA acquired a new position in Micron Technology in the 4th quarter worth approximately $34,000. Finally, Curio Wealth LLC purchased a new position in Micron Technology during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 80.84% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on MU shares. Wedbush reaffirmed an "underperform" rating on shares of Micron Technology in a research report on Monday. Royal Bank of Canada set a $125.00 price objective on Micron Technology in a research report on Wednesday, March 19th. Barclays dropped their target price on Micron Technology from $115.00 to $95.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Rosenblatt Securities decreased their target price on shares of Micron Technology from $250.00 to $200.00 and set a "buy" rating for the company in a research note on Friday, March 21st. Finally, Morgan Stanley lifted their price objective on Micron Technology from $91.00 to $112.00 and gave the company an "equal weight" rating in a research report on Friday, March 21st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $127.04.

Insider Buying and Selling

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were 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 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of the company'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 transaction, the executive vice president now directly owns 164,769 shares in the company, 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. 0.30% of the stock is owned by corporate insiders.

Micron Technology Price Performance

NASDAQ MU traded down $1.41 during trading on Wednesday, reaching $75.48. 10,388,255 shares of the company traded hands, compared to its average volume of 23,217,594. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $157.54. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The stock's 50 day moving average price is $84.67 and its two-hundred day moving average price is $94.50. The company has a market cap of $84.35 billion, a price-to-earnings ratio of 21.75 and a beta of 1.18.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share 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 analysts' expectations of $7.93 billion. During the same period in the prior year, the business posted $0.42 earnings per share. The business's revenue was up 38.2% compared to the same quarter last year. As a group, analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.61%. The ex-dividend date was Monday, March 31st. Micron Technology's payout ratio is currently 11.03%.

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.