Team Hewins LLC Takes Position in Micron Technology, Inc. (NASDAQ:MU)

Team Hewins LLC acquired a new stake in shares of Micron Technology, Inc. (NASDAQ:MU) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 3,932 shares of the semiconductor manufacturer’s stock, valued at approximately $336,000.

Other institutional investors also recently bought and sold shares of the company. NBC Securities Inc. bought a new stake in shares of Micron Technology in the 3rd quarter valued at about $1,078,000. Empower Advisory Group LLC increased its position in shares of Micron Technology by 4.1% during the third quarter. Empower Advisory Group LLC now owns 4,935 shares of the semiconductor manufacturer’s stock worth $336,000 after purchasing an additional 194 shares in the last quarter. Lincoln National Corp lifted its holdings in shares of Micron Technology by 8.6% during the 3rd quarter. Lincoln National Corp now owns 7,111 shares of the semiconductor manufacturer’s stock valued at $484,000 after purchasing an additional 563 shares during the last quarter. Victory Capital Management Inc. grew its stake in Micron Technology by 4.4% during the 3rd quarter. Victory Capital Management Inc. now owns 942,648 shares of the semiconductor manufacturer’s stock worth $64,128,000 after buying an additional 39,769 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in Micron Technology by 1.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 57,852 shares of the semiconductor manufacturer’s stock valued at $3,936,000 after buying an additional 976 shares in the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Micron Technology news, EVP Manish H. Bhatia sold 53,317 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $119.18, for a total value of $6,354,320.06. Following the completion of the transaction, the executive vice president now owns 319,119 shares in the company, valued at $38,032,602.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Micron Technology news, SVP Michael W. Bokan sold 15,000 shares of the firm’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $115.55, for a total transaction of $1,733,250.00. Following the transaction, the senior vice president now directly owns 153,387 shares of the company’s stock, valued at approximately $17,723,867.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Manish H. Bhatia sold 53,317 shares of Micron Technology stock in a transaction on Monday, May 6th. The shares were sold at an average price of $119.18, for a total transaction of $6,354,320.06. Following the completion of the transaction, the executive vice president now owns 319,119 shares in the company, valued at $38,032,602.42. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 417,446 shares of company stock valued at $48,198,323. 0.32% of the stock is owned by corporate insiders.

Micron Technology Trading Up 2.6 %

Shares of NASDAQ MU traded up $3.22 during mid-day trading on Friday, reaching $129.49. 14,048,894 shares of the company’s stock were exchanged, compared to its average volume of 15,508,568. The company’s 50-day moving average is $118.05 and its 200-day moving average is $95.52. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74. The firm has a market capitalization of $143.39 billion, a price-to-earnings ratio of -37.53 and a beta of 1.27. Micron Technology, Inc. has a 52-week low of $60.50 and a 52-week high of $131.95.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $5.35 billion. During the same period in the previous year, the firm posted ($2.03) earnings per share. The company’s revenue was up 57.7% on a year-over-year basis. Analysts expect that Micron Technology, Inc. will post 0.29 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were paid a $0.115 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.46 annualized dividend and a yield of 0.36%. Micron Technology’s dividend payout ratio is currently -13.33%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on MU shares. Morgan Stanley raised shares of Micron Technology from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $98.00 to $130.00 in a report on Monday, May 20th. Cantor Fitzgerald raised their price objective on Micron Technology from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Mizuho increased their price target on shares of Micron Technology from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, May 17th. JPMorgan Chase & Co. lifted their price objective on shares of Micron Technology from $105.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. Finally, StockNews.com raised shares of Micron Technology from a “sell” rating to a “hold” rating in a report on Friday, March 22nd. Two analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $126.92.

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.