Micron Technology, Inc. (NASDAQ:MU) Shares Purchased by LRI Investments LLC

LRI Investments LLC raised its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 75.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 624 shares of the semiconductor manufacturer’s stock after buying an additional 269 shares during the period. LRI Investments LLC’s holdings in Micron Technology were worth $53,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Janus Henderson Group PLC increased its stake in Micron Technology by 74.6% during the 4th quarter. Janus Henderson Group PLC now owns 2,646,936 shares of the semiconductor manufacturer’s stock valued at $222,779,000 after buying an additional 1,130,680 shares during the period. Guardian Wealth Advisors LLC NC grew its stake in shares of Micron Technology by 52.3% in the 4th quarter. Guardian Wealth Advisors LLC NC now owns 5,597 shares of the semiconductor manufacturer’s stock worth $471,000 after purchasing an additional 1,922 shares during the last quarter. Focus Partners Wealth grew its stake in shares of Micron Technology by 0.7% in the 4th quarter. Focus Partners Wealth now owns 33,700 shares of the semiconductor manufacturer’s stock worth $2,836,000 after purchasing an additional 235 shares during the last quarter. Ethic Inc. grew its stake in shares of Micron Technology by 12.8% in the 4th quarter. Ethic Inc. now owns 162,039 shares of the semiconductor manufacturer’s stock worth $13,637,000 after purchasing an additional 18,400 shares during the last quarter. Finally, Fiduciary Trust Co grew its stake in shares of Micron Technology by 16.8% in the 4th quarter. Fiduciary Trust Co now owns 7,447 shares of the semiconductor manufacturer’s stock worth $627,000 after purchasing an additional 1,070 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Activity

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $80.00, for a total transaction of $192,320.00. Following the transaction, the director now owns 24,954 shares of the company’s stock, valued at approximately $1,996,320. The trade was a 8.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the business’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the transaction, the executive vice president now directly owns 164,769 shares in the company, valued at $15,847,482.42. This trade represents a 8.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,808 shares of company stock valued at $1,858,424 over the last 90 days. 0.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on MU shares. Barclays lowered their price objective on shares of Micron Technology from $115.00 to $95.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. UBS Group lowered their price objective on shares of Micron Technology from $130.00 to $92.00 and set a “buy” rating on the stock in a research note on Monday, April 28th. Robert W. Baird raised their target price on shares of Micron Technology from $130.00 to $163.00 and gave the stock an “outperform” rating in a report on Friday, March 21st. Citigroup decreased their target price on shares of Micron Technology from $120.00 to $110.00 and set a “buy” rating for the company in a report on Friday, April 11th. Finally, China Renaissance cut shares of Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 target price for the company. in a report on Wednesday, March 26th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $126.48.

Micron Technology Price Performance

Shares of MU opened at $96.93 on Wednesday. The firm has a market cap of $108.33 billion, a PE ratio of 27.93 and a beta of 1.21. The firm’s 50 day moving average price is $82.74 and its 200 day moving average price is $92.81. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $157.54.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.13. The firm had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company’s revenue for the quarter was up 38.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.42 earnings per share. As a group, research analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Monday, March 31st. Micron Technology’s dividend payout ratio is 11.03%.

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.