Advanced Portfolio Management LLC Sells 20,597 Shares of Micron Technology, Inc. (NASDAQ:MU)

Advanced Portfolio Management LLC decreased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 45.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,000 shares of the semiconductor manufacturer’s stock after selling 20,597 shares during the quarter. Micron Technology accounts for approximately 2.5% of Advanced Portfolio Management LLC’s investment portfolio, making the stock its 16th largest position. Advanced Portfolio Management LLC’s holdings in Micron Technology were worth $2,104,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in MU. Beacon Capital Management LLC lifted its stake in Micron Technology by 114.9% in the 4th 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 during the last quarter. Midwest Capital Advisors LLC bought a new position in shares of Micron Technology in the 4th quarter valued at $33,000. Activest Wealth Management lifted its stake 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 valued at $34,000 after acquiring an additional 350 shares during the last quarter. Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Micron Technology during the 4th quarter valued at $34,000. Finally, Curio Wealth LLC bought a new stake in Micron Technology during the 4th quarter worth $34,000. Institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Performance

Shares of Micron Technology stock opened at $80.72 on Friday. The business has a 50-day simple moving average of $83.63 and a 200 day simple moving average of $94.00. The firm has a market capitalization of $90.21 billion, a price-to-earnings ratio of 23.26 and a beta of 1.18. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $157.54.

Micron Technology (NASDAQ:MU) last issued its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.05 billion for the quarter, compared to analysts’ expectations of $7.93 billion. During the same period last year, the business earned $0.42 EPS. Micron Technology’s quarterly revenue was up 38.2% compared to the same quarter last year. On average, research analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.115 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.57%. Micron Technology’s dividend payout ratio is presently 11.03%.

Wall Street Analysts Forecast Growth

MU has been the topic of a number of recent research reports. Wells Fargo & Company reissued an “equal weight” rating on shares of Micron Technology in a research note on Monday. Barclays cut their target price on shares of Micron Technology from $115.00 to $95.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. UBS Group reduced their target price on shares of Micron Technology from $130.00 to $92.00 and set a “buy” rating on the stock in a report on Monday, April 28th. Citigroup dropped their price target on shares of Micron Technology from $120.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Finally, KGI Securities raised shares of Micron Technology to a “strong-buy” rating in a research note on Friday, February 21st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $127.04.

Insider Activity at Micron Technology

In other news, EVP April S. Arnzen sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value of $1,442,700.00. Following the transaction, the executive vice president now owns 164,769 shares in the company, valued at $15,847,482.42. The trade was a 8.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total value of $223,403.72. Following the completion of the transaction, the director now directly owns 27,358 shares of the company’s stock, valued at approximately $2,542,378.94. This represents a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

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.