Jackson Creek Investment Advisors LLC Cuts Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Jackson Creek Investment Advisors LLC trimmed its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 3.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,341 shares of the semiconductor manufacturer’s stock after selling 148 shares during the quarter. Jackson Creek Investment Advisors LLC’s holdings in Micron Technology were worth $370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Norden Group LLC purchased a new position in Micron Technology during the 4th quarter worth $212,000. Kestra Private Wealth Services LLC boosted its holdings in shares of Micron Technology by 2.9% in the 4th quarter. Kestra Private Wealth Services LLC now owns 77,854 shares of the semiconductor manufacturer’s stock worth $6,644,000 after buying an additional 2,196 shares during the last quarter. Van ECK Associates Corp raised its stake in Micron Technology by 19.3% in the 4th quarter. Van ECK Associates Corp now owns 5,870,696 shares of the semiconductor manufacturer’s stock valued at $501,005,000 after acquiring an additional 951,286 shares during the period. Adell Harriman & Carpenter Inc. raised its stake in Micron Technology by 2.8% in the 4th quarter. Adell Harriman & Carpenter Inc. now owns 36,945 shares of the semiconductor manufacturer’s stock valued at $3,153,000 after acquiring an additional 1,015 shares during the period. Finally, Intrust Bank NA raised its stake in Micron Technology by 3.3% in the 4th quarter. Intrust Bank NA now owns 21,382 shares of the semiconductor manufacturer’s stock valued at $1,825,000 after acquiring an additional 686 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $112.96 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. The stock’s 50-day simple moving average is $107.28 and its two-hundred day simple moving average is $89.05. Micron Technology, Inc. has a 52-week low of $59.55 and a 52-week high of $130.54.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The business had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.35 billion. During the same period last year, the firm posted ($2.03) earnings per share. The business’s revenue for the quarter was up 57.7% on a year-over-year basis. As a group, equities analysts forecast that Micron Technology, Inc. will post 0.24 earnings per share for the current year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.41%. Micron Technology’s payout ratio is currently -13.33%.

Insider Activity

In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total transaction of $583,377.00. Following the sale, the executive vice president now owns 148,817 shares of the company’s stock, valued at approximately $17,753,868.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Sanjay Mehrotra sold 45,000 shares of Micron Technology stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $100.00, for a total transaction of $4,500,000.00. Following the sale, the chief executive officer now owns 773,557 shares of the company’s stock, valued at approximately $77,355,700. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total value of $583,377.00. Following the sale, the executive vice president now directly owns 148,817 shares in the company, valued at approximately $17,753,868.10. The disclosure for this sale can be found here. Insiders have sold a total of 261,890 shares of company stock valued at $29,129,527 in the last ninety days. Corporate insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Citigroup reiterated a “buy” rating and set a $150.00 price target on shares of Micron Technology in a research report on Thursday, April 4th. Wells Fargo & Company upped their price objective on shares of Micron Technology from $125.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. KeyCorp upped their price objective 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. UBS Group upped their price objective on shares of Micron Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Finally, Argus upgraded shares of Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 price objective on the stock in a research 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target 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.