First Affirmative Financial Network Increases Position in Micron Technology, Inc. (NASDAQ:MU)

First Affirmative Financial Network boosted its holdings in Micron Technology, Inc. (NASDAQ:MU) by 5.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,827 shares of the semiconductor manufacturer’s stock after purchasing an additional 200 shares during the quarter. First Affirmative Financial Network’s holdings in Micron Technology were worth $322,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Van ECK Associates Corp lifted its stake in shares of Micron Technology by 30.6% in the third quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock worth $1,109,769,000 after buying an additional 2,477,985 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Micron Technology by 21.7% in the third 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 worth $1,174,643,000 after buying an additional 2,022,180 shares in the last quarter. State Street Corp lifted its position in Micron Technology by 3.1% during the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock valued at $5,001,592,000 after purchasing an additional 1,434,568 shares during the period. Worldquant Millennium Advisors LLC lifted its position in Micron Technology by 254.4% during the third quarter. Worldquant Millennium Advisors LLC now owns 1,859,416 shares of the semiconductor manufacturer’s stock valued at $192,840,000 after purchasing an additional 1,334,690 shares during the period. Finally, International Assets Investment Management LLC lifted its position in Micron Technology by 1,233.7% during the third quarter. International Assets Investment Management LLC now owns 1,430,619 shares of the semiconductor manufacturer’s stock valued at $145,470,000 after purchasing an additional 1,323,352 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Analysts Set New Price Targets

MU has been the topic of a number of research analyst reports. Robert W. Baird lowered their price objective on shares of Micron Technology from $150.00 to $130.00 and set an “outperform” rating on the stock in a research report on Thursday, December 19th. China Renaissance initiated coverage on shares of Micron Technology in a research report on Monday, October 28th. They set a “buy” rating and a $148.00 price objective on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Micron Technology from $180.00 to $145.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Stifel Nicolaus lowered their price objective on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Finally, TD Cowen lowered their price objective on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $134.96.

Micron Technology Stock Performance

MU opened at $92.47 on Friday. The stock has a market capitalization of $103.02 billion, a price-to-earnings ratio of 26.65 and a beta of 1.18. The company has a fifty day moving average of $97.85 and a 200 day moving average of $100.40. Micron Technology, Inc. has a fifty-two week low of $79.15 and a fifty-two 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.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.19. The company had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. Micron Technology’s quarterly revenue was up 84.3% on a year-over-year basis. During the same period last year, the company posted ($0.95) earnings per share. As a group, sell-side analysts forecast that Micron Technology, Inc. will post 6.29 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were paid a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 annualized dividend and a yield of 0.50%. Micron Technology’s payout ratio is 13.26%.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the 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 completion of the transaction, the executive vice president now owns 181,223 shares in the company, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.30% of the stock is owned by company insiders.

About Micron Technology

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.