Simon Quick Advisors LLC Acquires 253 Shares of Micron Technology, Inc. (NASDAQ:MU)

Simon Quick Advisors LLC boosted its holdings in Micron Technology, Inc. (NASDAQ:MU) by 6.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,294 shares of the semiconductor manufacturer’s stock after purchasing an additional 253 shares during the period. Simon Quick Advisors LLC’s holdings in Micron Technology were worth $361,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Van ECK Associates Corp increased its position in Micron Technology by 30.6% in the third quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock worth $1,109,769,000 after buying an additional 2,477,985 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Micron Technology by 21.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock valued at $1,174,643,000 after acquiring an additional 2,022,180 shares during the period. State Street Corp lifted its holdings in Micron Technology by 3.1% during the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock valued at $5,001,592,000 after purchasing an additional 1,434,568 shares during the last quarter. Worldquant Millennium Advisors LLC boosted its position in Micron Technology by 254.4% during the third quarter. Worldquant Millennium Advisors LLC now owns 1,859,416 shares of the semiconductor manufacturer’s stock worth $192,840,000 after purchasing an additional 1,334,690 shares during the period. Finally, International Assets Investment Management LLC increased its stake in shares of Micron Technology by 1,233.7% in the third quarter. International Assets Investment Management LLC now owns 1,430,619 shares of the semiconductor manufacturer’s stock worth $145,470,000 after purchasing an additional 1,323,352 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on MU. Morgan Stanley cut their price objective on shares of Micron Technology from $114.00 to $98.00 and set an “equal weight” rating for the company in a report on Thursday, December 19th. The Goldman Sachs Group reduced their price target on Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Stifel Nicolaus dropped their price objective on Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. TD Cowen reduced their target price on Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Finally, China Renaissance initiated coverage on shares of Micron Technology in a report on Monday, October 28th. They issued a “buy” rating and a $148.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $135.24.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the sale, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.30% of the company’s stock.

Micron Technology Price Performance

MU stock opened at $104.84 on Friday. The firm has a market cap of $116.81 billion, a P/E ratio of 30.21 and a beta of 1.18. The firm’s fifty day moving average is $98.11 and its 200 day moving average is $101.70. Micron Technology, Inc. has a 52 week low of $79.15 and a 52 week high of $157.54. 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 (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. The firm had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company’s revenue for the quarter was up 84.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.95) earnings per share. Research analysts predict that Micron Technology, Inc. will post 6.25 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date was Monday, December 30th. Micron Technology’s dividend payout ratio (DPR) is presently 13.26%.

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.