Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Kovack Advisors Inc.

Kovack Advisors Inc. cut its position in Micron Technology, Inc. (NASDAQ:MU) by 9.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,906 shares of the semiconductor manufacturer’s stock after selling 302 shares during the period. Kovack Advisors Inc.’s holdings in Micron Technology were worth $248,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. State of New Jersey Common Pension Fund D grew its stake in Micron Technology by 1.0% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 625,718 shares of the semiconductor manufacturer’s stock valued at $53,399,000 after acquiring an additional 5,953 shares in the last quarter. Syon Capital LLC boosted its holdings in shares of Micron Technology by 44.8% during the 4th quarter. Syon Capital LLC now owns 10,655 shares of the semiconductor manufacturer’s stock worth $909,000 after purchasing an additional 3,295 shares during the last quarter. Bailard Inc. grew its position in shares of Micron Technology by 13.5% in the fourth quarter. Bailard Inc. now owns 54,558 shares of the semiconductor manufacturer’s stock valued at $4,656,000 after purchasing an additional 6,508 shares in the last quarter. Sycomore Asset Management lifted its position in Micron Technology by 29.9% during the fourth quarter. Sycomore Asset Management now owns 96,782 shares of the semiconductor manufacturer’s stock worth $8,387,000 after buying an additional 22,300 shares in the last quarter. Finally, Retirement Solution Inc. acquired a new position in Micron Technology during the fourth quarter worth $587,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on MU. Needham & Company LLC lifted their price target on Micron Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Robert W. Baird increased their price target on shares of Micron Technology from $78.00 to $115.00 and gave the company a “neutral” rating in a research note on Tuesday, March 19th. Cantor Fitzgerald upped their price objective on Micron Technology from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Wedbush raised their target price on Micron Technology from $103.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, March 21st. Finally, StockNews.com raised Micron Technology from a “sell” rating to a “hold” rating in a research note on Friday, March 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Micron Technology has an average rating of “Moderate Buy” and a consensus target price of $122.20.

Insider Buying and Selling

In other news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $80.44, for a total value of $563,080.00. Following the transaction, the chief executive officer now owns 788,557 shares in the company, valued at approximately $63,431,525.08. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $80.44, for a total value of $563,080.00. Following the completion of the transaction, the chief executive officer now owns 788,557 shares in the company, valued at approximately $63,431,525.08. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP April S. Arnzen sold 4,890 shares of the 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 directly owns 148,817 shares in the company, valued at $17,753,868.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 261,890 shares of company stock worth $29,129,527. Corporate insiders own 0.32% of the company’s stock.

Micron Technology Price Performance

Shares of NASDAQ MU opened at $114.36 on Tuesday. 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 company has a market cap of $126.64 billion, a price-to-earnings ratio of -33.15 and a beta of 1.27. The stock’s 50-day moving average is $106.64 and its two-hundred day moving average is $88.74. Micron Technology, Inc. has a 1-year low of $59.55 and a 1-year high of $130.54.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 8.98% and a negative net margin of 20.57%. The business’s revenue for the quarter was up 57.7% on a year-over-year basis. During the same period in the previous year, the company posted ($2.03) earnings per share. Analysts forecast that Micron Technology, Inc. will post 0.24 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company 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 was Thursday, March 28th. This represents a $0.46 annualized dividend and a dividend yield of 0.40%. Micron Technology’s dividend payout ratio (DPR) is currently -13.33%.

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.