LPL Financial LLC increased its stake in Micron Technology, Inc. (NASDAQ:MU – Get Rating ) by 1.2% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 352,176 shares of the semiconductor maker’s stock after purchasing an additional 4,278 shares during the period. LPL Financial LLC’s holdings in Micron Technology were worth $17,602,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently bought and sold shares of the stock. GHP Investment Advisors Inc. acquired a new position in shares of Micron Technology in the third quarter worth about $40,000. Tacita Capital Inc acquired a new stake in Micron Technology in the third quarter worth about $50,000. CenterStar Asset Management LLC bought a new stake in shares of Micron Technology in the third quarter worth approximately $66,000. Guardian Wealth Advisors LLC acquired a new position in Micron Technology in the third quarter valued at about $76,000. Finally, CVA Family Office LLC increased its stake in shares of Micron Technology by 881.3% in the third quarter. CVA Family Office LLC now owns 1,570 shares of the semiconductor maker’s stock valued at $79,000 after buying an additional 1,410 shares during the period. Hedge funds and other institutional investors own 78.02% of the company’s shares.
Inside Micron Technology
In related news, SVP Michael W. Bokan sold 20,000 shares of the stock in a transaction dated Monday, April 10th. The shares were sold at an average price of $63.14, for a total transaction of $1,262,800.00. Following the completion of the transaction, the senior vice president now directly owns 175,086 shares of the company’s stock, valued at $11,054,930.04. The transaction was disclosed in a filing with the Securities and Exchange Commission, which is available on the SEC’s website. Insiders have sold a total of 60,000 shares of company stock valued at $3,530,800 over the last three months. Insiders own 0.33% of the company’s stock.
Micron Technology stock rose 1.2%
Shares of NASDAQ:MU opened at $61.23 on Monday. Micron Technology, Inc. has a 1-year low of $48.43 and a 1-year high of $75.41. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.17 and a quick ratio of 2.62. The stock has a market cap of $67.01 billion, a P/E ratio of 44.05 and a beta of 1.41. The firm has a fifty day moving average price of $59.39 and a 200 day moving average price of $57.66.
Micron Technology (NASDAQ:MU – Get Rating) last posted its quarterly earnings results on Tuesday, March 28th. The semiconductor maker reported ($1.91) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.75) by ($1.16). The company had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $3.71 billion. Micron Technology had a return on equity of 3.98% and a net margin of 6.99%. The business’s quarterly revenue was down 52.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.05 EPS. Sell-side analysts predict that Micron Technology, Inc. will post -5.27 EPS for the current year.
Micron Technology Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, April 25th. Investors of record on Monday, April 10th were given a dividend of $0.115 per share. This represents a $0.46 annual dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend was Thursday, April 6th. Micron Technology’s dividend payout ratio is currently 33.09%.
Promote and demote an analyst
Several research analysts recently weighed in on MU shares. Evercore ISI boosted their price objective on Micron Technology from $65.00 to $75.00 and gave the stock an “outperform” rating in a research report on Monday, March 27th. StockNews.com lowered shares of Micron Technology from a “hold” rating to a “sell” rating in a research report on Thursday, March 30th. Rosenblatt Securities restated a “buy” rating and set a $100.00 target price on shares of Micron Technology in a research report on Wednesday, March 29th. Raymond James assumed coverage on shares of Micron Technology in a research report on Wednesday, March 1st. They set an “outperform” rating and a $70.00 target price for the company. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $67.00 target price on shares of Micron Technology in a research note on Monday, March 27th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and twenty-four have issued a buy rating to the company. The stock presently has a consensus rating of “Moderate Buy” and an average target price of $69.59, based on data from MarketBeat.
Micron Technology Company Profile
Micron Technology, Inc is committed to providing innovative memory and storage solutions. It operates through the following segments: Computing and Networking Business Unit (CNBU), Mobile Business Unit (MBU), Storage Business Unit (SBU) and Embedded Devices Business Unit (EBU). The CNBU segment includes memory products sold in the cloud server, enterprise, client, graphics and networking markets.
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