J.W. Cole Advisors Inc. Increases Stake in Micron Technology, Inc. (NASDAQ:MU)

J.W. Cole Advisors Inc. boosted its stake in Micron Technology, Inc. (NASDAQ:MU) by 30.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,715 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,095 shares during the period. J.W. Cole Advisors Inc.’s holdings in Micron Technology were worth $402,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of MU. OFI Invest Asset Management bought a new stake in shares of Micron Technology in the 3rd quarter worth approximately $27,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Micron Technology in the 3rd quarter worth approximately $28,000. VisionPoint Advisory Group LLC grew its position in shares of Micron Technology by 68.3% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock worth $33,000 after buying an additional 198 shares during the last quarter. Cape Investment Advisory Inc. grew its position in shares of Micron Technology by 51.0% in the 3rd quarter. Cape Investment Advisory Inc. now owns 592 shares of the semiconductor manufacturer’s stock worth $40,000 after buying an additional 200 shares during the last quarter. Finally, Clear Street Markets LLC grew its position in shares of Micron Technology by 67.5% in the 3rd quarter. Clear Street Markets LLC now owns 623 shares of the semiconductor manufacturer’s stock worth $42,000 after buying an additional 251 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 45,000 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $100.00, for a total value of $4,500,000.00. Following the completion of the sale, the chief executive officer now owns 773,557 shares in the company, valued at $77,355,700. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Micron Technology news, CEO Sanjay Mehrotra sold 45,000 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $100.00, for a total value of $4,500,000.00. Following the completion of the sale, the chief executive officer now owns 773,557 shares in the company, valued at $77,355,700. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total value of $583,377.00. Following the completion of the transaction, the executive vice president now directly owns 148,817 shares of the company’s stock, valued at approximately $17,753,868.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 261,890 shares of company stock worth $28,955,157. 0.32% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on MU. Raymond James lifted their price target on Micron Technology from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. UBS Group lifted their price target on Micron Technology from $95.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. Barclays lifted their price target on Micron Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a research report on Monday, March 18th. JPMorgan Chase & Co. lifted their price target on Micron Technology from $105.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. Finally, Cantor Fitzgerald lifted their price target on Micron Technology from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $122.20.

Micron Technology Stock Down 0.6 %

Micron Technology stock opened at $111.78 on Thursday. The stock has a market cap of $123.78 billion, a PE ratio of -32.40 and a beta of 1.27. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74. Micron Technology, Inc. has a one year low of $58.03 and a one year high of $130.54. The stock has a fifty day moving average of $104.64 and a 200 day moving average of $87.69.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.69. The company had revenue of $5.82 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($2.03) earnings per share. As a group, sell-side analysts predict that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date was Thursday, March 28th. Micron Technology’s dividend payout ratio (DPR) is presently -13.33%.

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.