Wealthfront Advisers LLC Has $446,000 Stake in Micron Technology, Inc. (NASDAQ:MU)

Wealthfront Advisers LLC decreased its holdings in Micron Technology, Inc. (NASDAQ:MU) by 93.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 5,298 shares of the semiconductor manufacturer’s stock after selling 81,345 shares during the period. Wealthfront Advisers LLC’s holdings in Micron Technology were worth $446,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. State Street Corp raised its stake in Micron Technology by 3.1% in the 3rd quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock worth $5,001,592,000 after purchasing an additional 1,434,568 shares in the last quarter. Primecap Management Co. CA increased its holdings in Micron Technology by 0.6% in the 3rd quarter. Primecap Management Co. CA now owns 37,631,860 shares of the semiconductor manufacturer’s stock valued at $3,902,800,000 after buying an additional 206,499 shares during the period. Geode Capital Management LLC increased its holdings in Micron Technology by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 23,723,545 shares of the semiconductor manufacturer’s stock valued at $2,451,987,000 after buying an additional 892,607 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Micron Technology by 21.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock valued at $1,174,643,000 after buying an additional 2,022,180 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Micron Technology by 1.5% in the 4th quarter. Bank of New York Mellon Corp now owns 9,956,311 shares of the semiconductor manufacturer’s stock valued at $837,923,000 after buying an additional 144,897 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Up 6.2 %

Shares of NASDAQ MU opened at $100.79 on Monday. The company has a market capitalization of $112.30 billion, a P/E ratio of 29.05 and a beta of 1.23. Micron Technology, Inc. has a 52-week low of $83.54 and a 52-week high of $157.54. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The company’s 50 day moving average price is $96.72 and its 200-day moving average price is $98.07.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. The firm had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company’s revenue for the quarter was up 84.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.95) EPS. Equities analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were given a $0.115 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.46%. Micron Technology’s dividend payout ratio (DPR) is currently 13.26%.

Insider Transactions at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the transaction, the director now owns 27,358 shares in the company, valued at $2,542,378.94. The trade was a 8.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the transaction, the executive vice president now owns 181,223 shares in the company, valued at $15,442,011.83. The trade was a 2.63 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. TD Cowen decreased their target price on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Needham & Company LLC decreased their target price on shares of Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Morgan Stanley decreased their target price on shares of Micron Technology from $98.00 to $91.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 28th. KGI Securities raised shares of Micron Technology to a “strong-buy” rating in a report on Friday, February 21st. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $250.00 target price on shares of Micron Technology in a report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.56.

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.