Ieq Capital LLC Has $5.43 Million Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Ieq Capital LLC raised its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 5.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 64,569 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,179 shares during the period. Ieq Capital LLC’s holdings in Micron Technology were worth $5,434,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Private Advisor Group LLC grew its stake in shares of Micron Technology by 15.3% in the fourth quarter. Private Advisor Group LLC now owns 98,177 shares of the semiconductor manufacturer’s stock worth $8,263,000 after acquiring an additional 13,052 shares during the last quarter. Timber Creek Capital Management LLC grew its stake in shares of Micron Technology by 3.2% in the fourth quarter. Timber Creek Capital Management LLC now owns 53,923 shares of the semiconductor manufacturer’s stock worth $4,538,000 after acquiring an additional 1,696 shares during the last quarter. Bank of Jackson Hole Trust acquired a new stake in shares of Micron Technology in the fourth quarter worth $52,000. Davidson Investment Advisors grew its stake in shares of Micron Technology by 1.2% in the fourth quarter. Davidson Investment Advisors now owns 153,330 shares of the semiconductor manufacturer’s stock worth $12,904,000 after acquiring an additional 1,837 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund grew its stake in shares of Micron Technology by 13.5% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 37,249 shares of the semiconductor manufacturer’s stock worth $3,135,000 after acquiring an additional 4,419 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Performance

Micron Technology stock opened at $98.78 on Friday. The stock has a 50-day simple moving average of $96.28 and a 200 day simple moving average of $98.76. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 12-month low of $83.54 and a 12-month high of $157.54. The stock has a market capitalization of $110.06 billion, a price-to-earnings ratio of 28.47 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.71 billion. During the same period in the previous year, the business posted ($0.95) earnings per share. The firm’s revenue for the quarter was up 84.3% compared to the same quarter last year. On average, research analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were given a $0.115 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a yield of 0.47%. Micron Technology’s payout ratio is 13.26%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on MU shares. Sanford C. Bernstein lowered their price objective on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 18th. Morgan Stanley reduced their target price on Micron Technology from $98.00 to $91.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. The Goldman Sachs Group reduced their target price on Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 target price on shares of Micron Technology in a research report on Wednesday, December 18th. Finally, Stifel Nicolaus reduced their target price on Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. One 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $134.96.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the sale, the executive vice president now directly owns 181,223 shares in the company, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.30% of the company’s stock.

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.