Advocate Group LLC Acquires 1,391 Shares of Micron Technology, Inc. (NASDAQ:MU)

Advocate Group LLC boosted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 5.1% during the 4th quarter, Holdings Channel reports. The fund owned 28,708 shares of the semiconductor manufacturer’s stock after buying an additional 1,391 shares during the period. Advocate Group LLC’s holdings in Micron Technology were worth $2,450,000 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. Northern Trust Corp boosted its holdings in shares of Micron Technology by 0.7% in the 3rd quarter. Northern Trust Corp now owns 10,833,670 shares of the semiconductor manufacturer’s stock valued at $737,015,000 after buying an additional 80,345 shares in the last quarter. L2 Asset Management LLC boosted its holdings in shares of Micron Technology by 492.3% in the 3rd quarter. L2 Asset Management LLC now owns 26,444 shares of the semiconductor manufacturer’s stock valued at $1,799,000 after buying an additional 21,979 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Micron Technology by 11.8% in the 3rd quarter. Invesco Ltd. now owns 8,807,926 shares of the semiconductor manufacturer’s stock valued at $599,203,000 after buying an additional 927,302 shares in the last quarter. Merlin Capital Inc bought a new stake in shares of Micron Technology in the 3rd quarter valued at about $407,000. Finally, Amitell Capital Pte Ltd boosted its holdings in shares of Micron Technology by 97.9% in the 3rd quarter. Amitell Capital Pte Ltd now owns 95,210 shares of the semiconductor manufacturer’s stock valued at $6,477,000 after buying an additional 47,105 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Bank of America raised their price target on shares of Micron Technology from $100.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, March 21st. StockNews.com upgraded shares of Micron Technology from a “sell” rating to a “hold” rating in a research note on Friday, March 22nd. Piper Sandler lifted their target price on shares of Micron Technology from $95.00 to $130.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. Stifel Nicolaus lifted their target price on shares of Micron Technology from $120.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Finally, The Goldman Sachs Group lifted their target price on shares of Micron Technology from $85.00 to $97.00 and gave the stock a “buy” rating in a research note on Thursday, December 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $118.69.

Insiders Place Their Bets

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $82.13, for a total transaction of $574,910.00. Following the sale, the chief executive officer now owns 651,759 shares of the company’s stock, valued at approximately $53,528,966.67. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total transaction of $583,377.00. Following the transaction, the executive vice president now owns 148,817 shares of the company’s stock, valued at approximately $17,753,868.10. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $82.13, for a total transaction of $574,910.00. Following the transaction, the chief executive officer now directly owns 651,759 shares in the company, valued at approximately $53,528,966.67. The disclosure for this sale can be found here. Insiders have sold a total of 268,890 shares of company stock valued at $26,952,017 in the last 90 days. 0.32% of the stock is owned by insiders.

Micron Technology Price Performance

NASDAQ MU traded down $1.24 on Friday, hitting $117.89. The company had a trading volume of 21,047,778 shares, compared to its average volume of 28,482,330. The company has a market capitalization of $130.55 billion, a PE ratio of -34.17 and a beta of 1.24. The company’s fifty day moving average price is $92.02 and its 200-day moving average price is $80.91. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. Micron Technology, Inc. has a 12-month low of $56.01 and a 12-month high of $122.46.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, topping the consensus estimate of ($0.27) by $0.69. The company had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The firm’s revenue was up 57.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($2.03) EPS. As a group, analysts predict that Micron Technology, Inc. will post 0.01 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st will be paid a dividend of $0.115 per share. The ex-dividend date is Thursday, March 28th. This represents a $0.46 annualized dividend and a yield of 0.39%. 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.