Micron Technology, Inc. (NASDAQ:MU) Stock Holdings Decreased by Kovack Advisors Inc.

Kovack Advisors Inc. decreased its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 9.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,906 shares of the semiconductor manufacturer’s stock after selling 302 shares during the quarter. Kovack Advisors Inc.’s holdings in Micron Technology were worth $248,000 as of its most recent SEC filing.

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

Micron Technology Trading Down 0.4 %

Micron Technology stock opened at $114.36 on Tuesday. The firm has a market cap of $126.64 billion, a price-to-earnings ratio of -33.15 and a beta of 1.27. Micron Technology, Inc. has a 1 year low of $59.55 and a 1 year high of $130.54. The firm’s 50 day moving average price is $106.64 and its two-hundred day moving average price is $88.74. 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 (NASDAQ:MU) last issued its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.69. The business had revenue of $5.82 billion for 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%. The company’s quarterly revenue was up 57.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($2.03) EPS. On average, research analysts predict that Micron Technology, Inc. will post 0.24 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently disclosed 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. This represents a $0.46 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend was Thursday, March 28th. Micron Technology’s payout ratio is -13.33%.

Insider Buying and Selling at Micron Technology

In other news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $84.84, for a total value of $593,880.00. Following the completion of the sale, the chief executive officer now owns 788,557 shares of the company’s stock, valued at $66,901,175.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $84.84, for a total value of $593,880.00. Following the completion of the sale, the chief executive officer now directly owns 788,557 shares of the company’s stock, valued at $66,901,175.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 148,817 shares of the company’s stock, valued at $17,753,868.10. The disclosure for this sale can be found here. Insiders have sold a total of 261,890 shares of company stock valued at $29,129,527 in the last three months. 0.32% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MU. Fox Advisors upgraded Micron Technology from an “equal weight” rating to an “overweight” rating in a research report on Thursday, March 21st. KeyCorp boosted their price target on shares of Micron Technology from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Needham & Company LLC increased their price objective on shares of Micron Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. TD Cowen lifted their price objective on shares of Micron Technology from $120.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, March 21st. Finally, Wedbush upped their target price on shares of Micron Technology from $103.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $122.20.

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.