Advisors Management Group Inc. ADV Acquires 2,731 Shares of Micron Technology, Inc. (NASDAQ:MU)

Advisors Management Group Inc. ADV boosted its holdings in Micron Technology, Inc. (NASDAQ:MU) by 6.5% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 44,611 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,731 shares during the quarter. Advisors Management Group Inc. ADV’s holdings in Micron Technology were worth $3,754,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Highline Wealth Partners LLC bought a new stake in shares of Micron Technology during the 3rd quarter worth $26,000. Davis Capital Management purchased a new stake in Micron Technology during the third quarter valued at about $30,000. Strategic Investment Solutions Inc. IL bought a new stake in Micron Technology during the second quarter worth about $39,000. Stone House Investment Management LLC boosted its holdings in shares of Micron Technology by 602.2% in the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 277 shares in the last quarter. Finally, True Wealth Design LLC increased its position in shares of Micron Technology by 1,096.3% during the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after purchasing an additional 296 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Trading Up 6.0 %

NASDAQ:MU opened at $103.19 on Thursday. The company has a 50-day moving average price of $98.39 and a 200-day moving average price of $102.65. The stock has a market cap of $114.97 billion, a price-to-earnings ratio of 151.75 and a beta of 1.18. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a 12 month low of $79.15 and a 12 month high of $157.54.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, topping the consensus estimate of $1.60 by $0.19. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The business had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.71 billion. During the same period last year, the business posted ($0.95) earnings per share. Micron Technology’s quarterly revenue was up 84.3% compared to the same quarter last year. Equities analysts predict that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were paid a $0.115 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 annualized dividend and a yield of 0.45%. Micron Technology’s payout ratio is 13.26%.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the sale, the executive vice president now owns 181,223 shares of the company’s stock, valued at $15,442,011.83. The trade was a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MU. Sanford C. Bernstein dropped their target price on Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. Bank of America lowered shares of Micron Technology from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $125.00 to $110.00 in a report on Thursday, December 19th. China Renaissance began coverage on shares of Micron Technology in a report on Monday, October 28th. They set a “buy” rating and a $148.00 target price on the stock. Susquehanna lowered their price target on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a research note on Thursday, September 26th. Finally, Needham & Company LLC reduced their price objective on Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.24.

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.