Micron Technology, Inc. (NASDAQ:MU) Shares Acquired by ProShare Advisors LLC

ProShare Advisors LLC boosted its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 16.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,650,957 shares of the semiconductor manufacturer's stock after buying an additional 238,687 shares during the quarter. ProShare Advisors LLC owned approximately 0.15% of Micron Technology worth $138,945,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quantinno Capital Management LP increased its holdings in Micron Technology by 82.7% in the 4th quarter. Quantinno Capital Management LP now owns 133,619 shares of the semiconductor manufacturer's stock valued at $11,245,000 after purchasing an additional 60,468 shares in the last quarter. Pathstone Holdings LLC grew its stake in Micron Technology by 0.3% in the fourth quarter. Pathstone Holdings LLC now owns 209,326 shares of the semiconductor manufacturer's stock worth $17,621,000 after purchasing an additional 643 shares in the last quarter. Mufg Securities Americas Inc. acquired a new position in Micron Technology in the fourth quarter valued at approximately $1,377,000. Nearwater Capital Markets Ltd acquired a new position in Micron Technology in the fourth quarter valued at approximately $37,030,000. Finally, NorthRock Partners LLC boosted its stake in Micron Technology by 190.0% in the fourth quarter. NorthRock Partners LLC now owns 8,163 shares of the semiconductor manufacturer's stock valued at $687,000 after acquiring an additional 5,348 shares during the period. Hedge funds and other institutional investors own 80.84% of the company's stock.

Micron Technology Stock Down 1.7%

Micron Technology stock opened at $95.32 on Thursday. The firm has a fifty day moving average price of $82.78 and a two-hundred day moving average price of $92.83. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week 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 firm has a market cap of $106.53 billion, a price-to-earnings ratio of 27.47 and a beta of 1.21.

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

Micron Technology Announces Dividend

The business also recently announced 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 of this dividend was Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.48%. Micron Technology's payout ratio is 11.03%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on MU shares. Morgan Stanley dropped their target price on Micron Technology from $112.00 to $98.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 7th. Rosenblatt Securities decreased their price target on shares of Micron Technology from $250.00 to $200.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. JPMorgan Chase & Co. decreased their price target on shares of Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a research report on Friday, March 21st. Barclays decreased their price target on shares of Micron Technology from $115.00 to $95.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Finally, Robert W. Baird lifted their price target on shares of Micron Technology from $130.00 to $163.00 and gave the stock an "outperform" rating in a research report on Friday, March 21st. Two analysts have rated the stock with a sell rating, four have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $126.48.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction that occurred 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 directly owns 164,769 shares in the company, valued at $15,847,482.42. This represents a 8.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $80.00, for a total transaction of $192,320.00. Following the completion of the sale, the director now owns 24,954 shares in the company, valued at approximately $1,996,320. This trade represents a 8.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, 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 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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