Micron Technology, Inc. (NASDAQ:MU) Shares Acquired by Proficio Capital Partners LLC

Proficio Capital Partners LLC grew its stake in Micron Technology, Inc. (NASDAQ:MU) by 14,601.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 341,377 shares of the semiconductor manufacturer’s stock after buying an additional 339,055 shares during the period. Proficio Capital Partners LLC’s holdings in Micron Technology were worth $28,730,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MU. Beacon Capital Management LLC boosted its stake in Micron Technology by 114.9% during the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after purchasing an additional 200 shares during the period. True Wealth Design LLC boosted its stake in Micron Technology by 1,096.3% during the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after purchasing an additional 296 shares during the period. Midwest Capital Advisors LLC acquired a new stake in Micron Technology during the 4th quarter worth $33,000. Stone House Investment Management LLC boosted its stake in Micron Technology by 602.2% during the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 277 shares during the period. Finally, Activest Wealth Management boosted its stake in Micron Technology by 583.3% during the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 350 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Price Performance

Shares of NASDAQ MU opened at $93.63 on Friday. The stock has a market cap of $104.32 billion, a price-to-earnings ratio of 26.98 and a beta of 1.18. Micron Technology, Inc. has a 52 week low of $83.54 and a 52 week high of $157.54. The company’s 50-day moving average price is $95.75 and its 200 day moving average price is $98.87. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28.

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

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders 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 dividend yield of 0.49%. Micron Technology’s dividend payout ratio is currently 13.26%.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the sale, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

MU has been the subject of a number of recent research reports. Mizuho decreased their price target on shares of Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday, December 19th. Bank of America downgraded shares of Micron Technology from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $125.00 to $110.00 in a research report on Thursday, December 19th. Sanford C. Bernstein cut their price objective on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. Wells Fargo & Company cut their price objective on shares of Micron Technology from $175.00 to $140.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Finally, KGI Securities upgraded shares of Micron Technology to a “strong-buy” rating in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $134.96.

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.