Waverly Advisors LLC Raises Position in Micron Technology, Inc. (NASDAQ:MU)

Waverly Advisors LLC raised its stake in Micron Technology, Inc. (NASDAQ:MU) by 179.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 58,075 shares of the semiconductor manufacturer’s stock after purchasing an additional 37,285 shares during the quarter. Waverly Advisors LLC’s holdings in Micron Technology were worth $4,888,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Wesleyan Assurance Society purchased a new stake in shares of Micron Technology during the fourth quarter valued at approximately $6,219,000. Woodline Partners LP increased its position in shares of Micron Technology by 128.8% during the fourth quarter. Woodline Partners LP now owns 865,041 shares of the semiconductor manufacturer’s stock valued at $72,802,000 after acquiring an additional 486,931 shares during the last quarter. Vident Advisory LLC increased its position in shares of Micron Technology by 14.3% during the fourth quarter. Vident Advisory LLC now owns 373,599 shares of the semiconductor manufacturer’s stock valued at $31,442,000 after acquiring an additional 46,873 shares during the last quarter. Sphera Management Technology Funds Ltd purchased a new stake in shares of Micron Technology during the fourth quarter valued at approximately $2,104,000. Finally, Triglav Skladi D.O.O. purchased a new stake in shares of Micron Technology during the fourth quarter valued at approximately $11,556,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 15,000 shares of Micron Technology 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 completion of the sale, the executive vice president now owns 164,769 shares of the company’s stock, valued at approximately $15,847,482.42. This trade represents a 8.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction 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 sale, the director now directly owns 27,358 shares of the company’s stock, valued at $2,542,378.94. This represents a 8.08% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,808 shares of company stock valued at $1,858,424. Company insiders own 0.30% of the company’s stock.

Micron Technology Price Performance

Micron Technology stock opened at $98.10 on Wednesday. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $157.54. The business has a fifty day moving average price of $83.25 and a 200-day moving average price of $92.59. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The firm has a market capitalization of $109.63 billion, a P/E ratio of 28.27 and a beta of 1.21.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 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 firm had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.93 billion. During the same period last year, the company earned $0.42 earnings per share. The business’s revenue for the quarter was up 38.2% on a year-over-year basis. As a group, equities research analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

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

Analysts Set New Price Targets

MU has been the subject of a number of research analyst reports. KGI Securities raised Micron Technology to a “strong-buy” rating in a research report on Friday, February 21st. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Micron Technology in a research report on Monday, April 28th. Robert W. Baird increased their price target on Micron Technology from $130.00 to $163.00 and gave the company an “outperform” rating in a research report on Friday, March 21st. Royal Bank of Canada set a $125.00 price target on Micron Technology in a research report on Wednesday, March 19th. Finally, Rosenblatt Securities reduced their price objective on Micron Technology from $250.00 to $200.00 and set a “buy” rating for the company in a report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $126.48.

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.