Micron Technology, Inc. (NASDAQ:MU) Position Raised by Highland Capital Management LLC

Highland Capital Management LLC raised its stake in Micron Technology, Inc. (NASDAQ:MU) by 0.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 206,649 shares of the semiconductor manufacturer’s stock after buying an additional 782 shares during the quarter. Micron Technology makes up about 1.1% of Highland Capital Management LLC’s investment portfolio, making the stock its 15th largest holding. Highland Capital Management LLC’s holdings in Micron Technology were worth $17,635,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in MU. Vanguard Group Inc. raised its stake in shares of Micron Technology by 0.3% during the third quarter. Vanguard Group Inc. now owns 94,229,187 shares of the semiconductor manufacturer’s stock valued at $6,410,412,000 after purchasing an additional 305,860 shares in the last quarter. State Street Corp raised its position in Micron Technology by 0.6% in the second quarter. State Street Corp now owns 46,193,578 shares of the semiconductor manufacturer’s stock worth $2,915,277,000 after acquiring an additional 282,292 shares in the last quarter. FMR LLC raised its position in Micron Technology by 47.9% in the third quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer’s stock worth $1,489,801,000 after acquiring an additional 7,089,790 shares in the last quarter. Geode Capital Management LLC raised its position in Micron Technology by 1.3% in the first quarter. Geode Capital Management LLC now owns 20,348,845 shares of the semiconductor manufacturer’s stock worth $1,225,181,000 after acquiring an additional 253,179 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in Micron Technology by 43.4% in the third quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock worth $1,182,608,000 after acquiring an additional 5,257,201 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Stock Up 0.4 %

MU opened at $119.25 on Thursday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74. Micron Technology, Inc. has a 1 year low of $56.01 and a 1 year high of $122.46. The stock’s 50 day simple moving average is $90.63 and its 200-day simple moving average is $80.38.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results 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 firm had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.35 billion. During the same period in the prior year, the business posted ($2.03) earnings per share. The business’s revenue was up 57.7% compared to the same quarter last year. On average, analysts expect that Micron Technology, Inc. will post 0.01 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st will be given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date is Thursday, March 28th. Micron Technology’s dividend payout ratio (DPR) is -13.33%.

Insider Transactions at Micron Technology

In other news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $82.13, for a total transaction of $574,910.00. Following the sale, the chief executive officer now owns 651,759 shares in the company, valued at $53,528,966.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have sold 264,000 shares of company stock worth $26,368,640. Insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on MU. The Goldman Sachs Group boosted their price target on shares of Micron Technology from $85.00 to $97.00 and gave the stock a “buy” rating in a research report on Thursday, December 21st. KeyCorp lifted their price target on Micron Technology from $115.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. Wells Fargo & Company lifted their price target on Micron Technology from $125.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. Rosenblatt Securities reissued a “buy” rating and issued a $140.00 price target on shares of Micron Technology in a research note on Monday, March 18th. Finally, Wedbush lifted their target price on Micron Technology from $103.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $118.69.

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.