Micron Technology, Inc. (NASDAQ:MU) Shares Purchased by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC lifted its position in Micron Technology, Inc. (NASDAQ:MU) by 12.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,889 shares of the semiconductor manufacturer’s stock after acquiring an additional 424 shares during the period. EverSource Wealth Advisors LLC’s holdings in Micron Technology were worth $332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Aigen Investment Management LP boosted its stake in shares of Micron Technology by 110.0% in the fourth quarter. Aigen Investment Management LP now owns 35,111 shares of the semiconductor manufacturer’s stock worth $2,996,000 after acquiring an additional 18,394 shares during the last quarter. Franklin Resources Inc. boosted its stake in Micron Technology by 6.8% during the fourth quarter. Franklin Resources Inc. now owns 7,400,928 shares of the semiconductor manufacturer’s stock worth $631,595,000 after buying an additional 470,241 shares during the last quarter. Brandes Investment Partners LP boosted its stake in Micron Technology by 7.2% during the fourth quarter. Brandes Investment Partners LP now owns 1,326,656 shares of the semiconductor manufacturer’s stock worth $113,217,000 after buying an additional 88,895 shares during the last quarter. STF Management LP boosted its stake in Micron Technology by 5.0% during the fourth quarter. STF Management LP now owns 18,801 shares of the semiconductor manufacturer’s stock worth $1,604,000 after buying an additional 903 shares during the last quarter. Finally, Trexquant Investment LP boosted its stake in Micron Technology by 105.1% during the fourth quarter. Trexquant Investment LP now owns 434,816 shares of the semiconductor manufacturer’s stock worth $37,107,000 after buying an additional 222,792 shares during the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Michael W. Bokan sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $115.55, for a total transaction of $1,733,250.00. Following the transaction, the senior vice president now owns 153,387 shares in the company, valued at approximately $17,723,867.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $127.66, for a total value of $893,620.00. Following the transaction, the chief executive officer now directly owns 719,049 shares in the company, valued at approximately $91,793,795.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michael W. Bokan sold 15,000 shares of Micron Technology stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $115.55, for a total value of $1,733,250.00. Following the completion of the transaction, the senior vice president now owns 153,387 shares in the company, valued at $17,723,867.85. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 417,446 shares of company stock worth $48,198,323. 0.32% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on MU shares. Wedbush boosted their price objective on Micron Technology from $103.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, March 21st. Robert W. Baird raised Micron Technology from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $115.00 to $150.00 in a research note on Monday, May 6th. JPMorgan Chase & Co. lifted their target price on Micron Technology from $105.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. Morgan Stanley upgraded Micron Technology from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $98.00 to $130.00 in a research report on Monday. Finally, Bank of America lifted their target price on Micron Technology from $120.00 to $144.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Two equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat, Micron Technology has a consensus rating of “Moderate Buy” and an average price target of $126.92.

Micron Technology Stock Up 2.1 %

MU stock traded up $2.67 during mid-day trading on Friday, reaching $128.94. The company had a trading volume of 3,313,845 shares, compared to its average volume of 19,384,207. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74. The company has a market capitalization of $142.78 billion, a price-to-earnings ratio of -36.60 and a beta of 1.27. The firm has a fifty day simple moving average of $117.33 and a 200 day simple moving average of $95.13. Micron Technology, Inc. has a fifty-two week low of $60.50 and a fifty-two week high of $131.95.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (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 for the quarter, compared to analyst estimates of $5.35 billion. During the same quarter last year, the company earned ($2.03) EPS. Micron Technology’s revenue for the quarter was up 57.7% compared to the same quarter last year. Analysts forecast that Micron Technology, Inc. will post 0.29 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were issued a $0.115 dividend. The ex-dividend date was Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.36%. Micron Technology’s payout ratio is currently -13.33%.

Micron Technology Company 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.