Xponance Inc. Grows Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Xponance Inc. grew its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 12.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 150,497 shares of the semiconductor manufacturer’s stock after buying an additional 16,889 shares during the period. Xponance Inc.’s holdings in Micron Technology were worth $12,843,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in MU. Price T Rowe Associates Inc. MD grew its stake in shares of Micron Technology by 411.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,274,070 shares of the semiconductor manufacturer’s stock valued at $763,398,000 after buying an additional 12,286,893 shares during the period. Norges Bank purchased a new stake in Micron Technology during the 4th quarter worth $581,559,000. FMR LLC boosted its position in Micron Technology by 47.9% during the 3rd quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer’s stock worth $1,489,801,000 after purchasing an additional 7,089,790 shares during the period. Morgan Stanley boosted its position in Micron Technology by 59.2% during the 4th quarter. Morgan Stanley now owns 14,185,790 shares of the semiconductor manufacturer’s stock worth $709,006,000 after purchasing an additional 5,274,984 shares during the period. Finally, Wellington Management Group LLP boosted its position in Micron Technology by 43.4% during the 3rd quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock worth $1,182,608,000 after purchasing an additional 5,257,201 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Micron Technology

In other news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $87.41, for a total transaction of $611,870.00. Following the transaction, the chief executive officer now owns 642,251 shares in the company, valued at approximately $56,139,159.91. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $87.41, for a total value of $611,870.00. Following the transaction, the chief executive officer now directly owns 642,251 shares in the company, valued at approximately $56,139,159.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total transaction of $583,377.00. Following the completion of the transaction, the executive vice president now owns 148,817 shares in the company, valued at $17,753,868.10. The disclosure for this sale can be found here. Insiders have sold a total of 313,890 shares of company stock worth $33,617,027 in the last 90 days. 0.32% of the stock is owned by insiders.

Micron Technology Stock Performance

MU stock traded down $2.23 on Friday, hitting $109.70. 4,553,008 shares of the company’s stock traded hands, compared to its average volume of 20,250,453. Micron Technology, Inc. has a 1-year low of $58.03 and a 1-year high of $130.54. The stock has a fifty day moving average of $102.53 and a 200-day moving average of $86.40. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, beating the consensus estimate of ($0.27) by $0.69. The business had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The firm’s quarterly revenue was up 57.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($2.03) EPS. On average, research analysts expect that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were paid a dividend of $0.115 per share. The ex-dividend date was Thursday, March 28th. This represents a $0.46 annualized dividend and a dividend yield of 0.42%. Micron Technology’s dividend payout ratio (DPR) is -13.33%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. KeyCorp upped their price target on shares of Micron Technology from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Evercore ISI boosted their price objective on shares of Micron Technology from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, December 21st. Stifel Nicolaus reiterated a “buy” rating and issued a $140.00 price objective on shares of Micron Technology in a report on Friday, April 12th. Rosenblatt Securities reiterated a “buy” rating and issued a $140.00 price objective on shares of Micron Technology in a report on Monday, March 18th. Finally, Needham & Company LLC boosted their price objective on shares of Micron Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $122.20.

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.