Xponance Inc. Increases Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Xponance Inc. grew its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 12.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 150,497 shares of the semiconductor manufacturer's stock after acquiring an additional 16,889 shares during the period. Xponance Inc.'s holdings in Micron Technology were worth $12,843,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC bought a new position in Micron Technology during the 3rd quarter worth $28,000. OFI Invest Asset Management bought a new position in Micron Technology during the 3rd quarter worth $27,000. VisionPoint Advisory Group LLC raised its position in Micron Technology by 68.3% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer's stock worth $33,000 after purchasing an additional 198 shares during the last quarter. Coppell Advisory Solutions LLC bought a new position in Micron Technology during the 2nd quarter worth $32,000. Finally, Fortis Capital Advisors LLC bought a new position in Micron Technology during the 4th quarter worth $25,000. 80.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Barclays increased their price target on Micron Technology from $95.00 to $120.00 and gave the stock an "overweight" rating in a report on Monday, March 18th. Wells Fargo & Company increased their price target on Micron Technology from $125.00 to $135.00 and gave the stock an "overweight" rating in a report on Thursday, March 21st. Fox Advisors upgraded Micron Technology from an "equal weight" rating to an "overweight" rating in a report on Thursday, March 21st. KeyCorp increased their price target on Micron Technology from $135.00 to $150.00 and gave the stock an "overweight" rating in a report on Monday, April 8th. Finally, Needham & Company LLC raised their target price on Micron Technology from $100.00 to $120.00 and gave the company a "buy" rating in a research note on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $122.20.

Micron Technology Stock Performance

Micron Technology stock traded down $5.16 during trading on Friday, hitting $106.77. The stock had a trading volume of 33,747,831 shares, compared to its average volume of 20,635,740. Micron Technology, Inc. has a 1 year low of $58.03 and a 1 year high of $130.54. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30. The stock's 50 day moving average is $102.53 and its two-hundred day moving average is $86.40. The stock has a market cap of $118.23 billion, a price-to-earnings ratio of -30.95 and a beta of 1.27.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, beating the consensus estimate of ($0.27) by $0.69. The business had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.35 billion. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. Micron Technology's revenue for the quarter was up 57.7% on a year-over-year basis. During the same quarter in the prior year, the business earned ($2.03) earnings per share. As a group, analysts predict that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were given a dividend of $0.115 per share. The ex-dividend date was Thursday, March 28th. This represents a $0.46 annualized dividend and a dividend yield of 0.43%. Micron Technology's dividend payout ratio is currently -13.33%.

Insiders Place Their Bets

In other news, CEO Sanjay Mehrotra sold 7,000 shares of the company's stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $120.70, for a total value of $844,900.00. Following the transaction, the chief executive officer now owns 719,049 shares of the company's stock, valued at $86,789,214.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Sanjay Mehrotra sold 7,000 shares of the company's stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $120.70, for a total value of $844,900.00. Following the transaction, the chief executive officer now owns 719,049 shares of the company's stock, valued at $86,789,214.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the company's stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total transaction of $583,377.00. Following the completion of the transaction, the executive vice president now directly owns 148,817 shares in the company, valued at approximately $17,753,868.10. The disclosure for this sale can be found here. Insiders have sold a total of 313,890 shares of company stock worth $33,617,027 over the last 90 days. Corporate insiders own 0.32% 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.