Commonwealth Equity Services LLC Has $26.65 Million Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Commonwealth Equity Services LLC raised its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 5.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 316,605 shares of the semiconductor manufacturer’s stock after purchasing an additional 15,190 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Micron Technology were worth $26,645,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in MU. Beacon Capital Management LLC boosted its holdings in Micron Technology by 114.9% during the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after purchasing an additional 200 shares in the last quarter. True Wealth Design LLC boosted its holdings in shares of Micron Technology by 1,096.3% in the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after acquiring an additional 296 shares in the last quarter. Midwest Capital Advisors LLC acquired a new position in shares of Micron Technology in the 4th quarter worth approximately $33,000. 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 acquiring an additional 277 shares in the last quarter. Finally, Activest Wealth Management boosted its holdings in shares of Micron Technology by 583.3% in the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 350 shares in the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the transaction, the director now directly owns 27,358 shares in the company, valued at $2,542,378.94. This represents a 8.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the transaction, the executive vice president now owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Micron Technology Price Performance

MU opened at $100.79 on Friday. 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 company has a fifty day simple moving average of $96.72 and a 200 day simple moving average of $98.05. The stock has a market cap of $112.30 billion, a P/E ratio of 29.05 and a beta of 1.23.

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

Micron Technology Announces Dividend

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

Analyst Ratings Changes

Several research analysts have recently commented on the company. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 target price on shares of Micron Technology in a report on Wednesday, December 18th. Stifel Nicolaus reduced their target price on Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. KGI Securities raised Micron Technology to a “strong-buy” rating in a report on Friday, February 21st. Mizuho reduced their target price on Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, December 19th. Finally, Needham & Company LLC dropped their price objective on shares of Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $134.56.

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.