Micron Technology, Inc. (NASDAQ:MU) is Intellectus Partners LLC’s 7th Largest Position

Intellectus Partners LLC increased its holdings in Micron Technology, Inc. (NASDAQ:MU) by 26.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,015 shares of the semiconductor manufacturer’s stock after acquiring an additional 14,095 shares during the period. Micron Technology comprises about 1.7% of Intellectus Partners LLC’s holdings, making the stock its 7th largest holding. Intellectus Partners LLC’s holdings in Micron Technology were worth $5,812,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Micron Technology by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 94,229,187 shares of the semiconductor manufacturer’s stock worth $6,410,412,000 after purchasing an additional 305,860 shares during the last quarter. FMR LLC increased its position in Micron Technology by 47.9% in the 3rd quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer’s stock worth $1,489,801,000 after purchasing an additional 7,089,790 shares during the last quarter. Wellington Management Group LLP increased its position in Micron Technology by 43.4% in the 3rd quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock worth $1,182,608,000 after purchasing an additional 5,257,201 shares during the last quarter. Morgan Stanley boosted its stake in Micron Technology by 19.7% during the 3rd quarter. Morgan Stanley now owns 17,303,400 shares of the semiconductor manufacturer’s stock valued at $1,177,151,000 after purchasing an additional 2,852,688 shares during the period. Finally, Northern Trust Corp boosted its stake in Micron Technology by 0.7% during the 3rd quarter. Northern Trust Corp now owns 10,833,670 shares of the semiconductor manufacturer’s stock valued at $737,015,000 after purchasing an additional 80,345 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MU has been the subject of a number of research reports. Bank of America raised their price objective on Micron Technology from $120.00 to $144.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. KeyCorp raised their price objective on Micron Technology from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Morgan Stanley raised their price objective on Micron Technology from $78.00 to $98.00 and gave the stock an “underweight” rating in a research report on Thursday, March 21st. JPMorgan Chase & Co. raised their target price on Micron Technology from $105.00 to $130.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. Finally, Citigroup restated a “buy” rating and set a $150.00 target price on shares of Micron Technology in a research report on Thursday, April 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $122.20.

Micron Technology Price Performance

NASDAQ MU traded up $3.26 on Friday, hitting $114.84. 20,612,299 shares of the company’s stock were exchanged, compared to its average volume of 24,401,036. The stock has a 50-day moving average of $105.94 and a 200-day moving average of $88.30. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30. Micron Technology, Inc. has a 52 week low of $59.55 and a 52 week high of $130.54. The stock has a market cap of $127.17 billion, a price-to-earnings ratio of -33.29 and a beta of 1.27.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The company had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.35 billion. During the same period in the prior year, the company earned ($2.03) EPS. Micron Technology’s revenue was up 57.7% compared to the same quarter last year. Analysts expect that Micron Technology, Inc. will post 0.24 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date was Thursday, March 28th. Micron Technology’s payout ratio is -13.33%.

Insider Activity

In related news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $87.02, for a total value of $609,140.00. Following the completion of the sale, the chief executive officer now directly owns 788,557 shares in the company, valued at $68,620,230.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $87.02, for a total transaction of $609,140.00. Following the completion of the sale, the chief executive officer now directly owns 788,557 shares in the company, valued at approximately $68,620,230.14. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total value 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. In the last ninety days, insiders sold 268,890 shares of company stock worth $29,738,667. Insiders own 0.32% 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.