Stifel Financial Corp Has $30.82 Million Position in Micron Technology, Inc. (NASDAQ:MU)

Stifel Financial Corp lifted its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 28.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 366,127 shares of the semiconductor manufacturer's stock after purchasing an additional 81,954 shares during the quarter. Stifel Financial Corp's holdings in Micron Technology were worth $30,816,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. SOA Wealth Advisors LLC. boosted its stake in Micron Technology by 37.6% in the third quarter. SOA Wealth Advisors LLC. now owns 1,189 shares of the semiconductor manufacturer's stock worth $123,000 after purchasing an additional 325 shares in the last quarter. SkyView Investment Advisors LLC raised its holdings in shares of Micron Technology by 3.7% in the third quarter. SkyView Investment Advisors LLC now owns 6,696 shares of the semiconductor manufacturer's stock valued at $694,000 after buying an additional 241 shares during the last quarter. Pine Valley Investments Ltd Liability Co lifted its position in Micron Technology by 524.2% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 14,863 shares of the semiconductor manufacturer's stock worth $1,541,000 after buying an additional 12,482 shares in the last quarter. World Investment Advisors LLC grew its holdings in Micron Technology by 103.7% during the 3rd quarter. World Investment Advisors LLC now owns 3,315 shares of the semiconductor manufacturer's stock worth $344,000 after acquiring an additional 1,688 shares during the last quarter. Finally, Arvest Bank Trust Division acquired a new stake in Micron Technology in the 3rd quarter valued at about $21,406,000. Institutional investors and hedge funds own 80.84% of the company's stock.

Insider Buying and Selling

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the sale, the director now owns 27,358 shares in the company, valued at approximately $2,542,378.94. This represents a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the firm's 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 completion of the transaction, the executive vice president now owns 164,769 shares of the company's stock, valued at approximately $15,847,482.42. This represents a 8.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Cantor Fitzgerald reiterated an "overweight" rating and set a $130.00 target price on shares of Micron Technology in a research report on Friday, March 21st. KGI Securities upgraded Micron Technology to a "strong-buy" rating in a research report on Friday, February 21st. Barclays dropped their target price on Micron Technology from $115.00 to $95.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Robert W. Baird raised their price target on Micron Technology from $130.00 to $163.00 and gave the company an "outperform" rating in a report on Friday, March 21st. Finally, JPMorgan Chase & Co. dropped their price objective on Micron Technology from $145.00 to $135.00 and set an "overweight" rating for the company in a report 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $127.04.

Micron Technology Stock Down 2.2 %

Shares of MU traded down $1.76 on Tuesday, hitting $76.80. The company's stock had a trading volume of 5,968,956 shares, compared to its average volume of 23,189,862. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $85.83 billion, a price-to-earnings ratio of 22.12 and a beta of 1.18. The firm's fifty day moving average price is $85.19 and its 200-day moving average price is $94.62. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $157.54.

Micron Technology (NASDAQ:MU - Get Free Report) last issued 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 during 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 firm's revenue was up 38.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.42 earnings per share. On average, equities research 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. Stockholders of record on Monday, March 31st were given a dividend of $0.115 per share. The ex-dividend date was Monday, March 31st. This represents a $0.46 annualized dividend and a dividend yield of 0.60%. Micron Technology's dividend payout ratio is currently 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.