Micron Technology, Inc. (NASDAQ:MU) Shares Purchased by Sunbelt Securities Inc.

Sunbelt Securities Inc. increased its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 467.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,149 shares of the semiconductor manufacturer’s stock after acquiring an additional 5,889 shares during the quarter. Sunbelt Securities Inc.’s holdings in Micron Technology were worth $610,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. GTS Securities LLC boosted its holdings in shares of Micron Technology by 132.3% in the 4th quarter. GTS Securities LLC now owns 57,623 shares of the semiconductor manufacturer’s stock valued at $4,850,000 after purchasing an additional 236,107 shares during the last quarter. Fourth Dimension Wealth LLC acquired a new position in shares of Micron Technology in the 4th quarter valued at $132,000. Vise Technologies Inc. boosted its holdings in shares of Micron Technology by 92.8% in the 4th quarter. Vise Technologies Inc. now owns 13,831 shares of the semiconductor manufacturer’s stock valued at $1,164,000 after purchasing an additional 6,656 shares during the last quarter. Novem Group acquired a new position in shares of Micron Technology in the 4th quarter valued at $606,000. Finally, MidWestOne Financial Group Inc. boosted its holdings in shares of Micron Technology by 1.2% in the 4th quarter. MidWestOne Financial Group Inc. now owns 52,688 shares of the semiconductor manufacturer’s stock valued at $4,434,000 after purchasing an additional 619 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Transactions at Micron Technology

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

Micron Technology Stock Performance

Micron Technology stock opened at $93.37 on Friday. The firm’s fifty day moving average price is $82.82 and its 200 day moving average price is $92.34. The company has a market capitalization of $104.35 billion, a price-to-earnings ratio of 26.91 and a beta of 1.21. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $157.54. 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 (NASDAQ:MU) last released its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.13. The company had revenue of $8.05 billion during the quarter, compared to the consensus estimate 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 was up 38.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.42 EPS. On average, research analysts forecast that Micron Technology, Inc. will post 6.08 EPS 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 given a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology’s payout ratio is currently 11.03%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Rosenblatt Securities decreased their price target on shares of Micron Technology from $250.00 to $200.00 and set a “buy” rating on the stock in a report on Friday, March 21st. China Renaissance lowered shares of Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 price target on the stock. in a report on Wednesday, March 26th. JPMorgan Chase & Co. cut their target price on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Morgan Stanley cut their target price on shares of Micron Technology from $112.00 to $98.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 7th. Finally, 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 note on Tuesday, April 22nd. Two research analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Micron Technology has a consensus rating of “Moderate Buy” and a consensus 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.