Micron Technology, Inc. (NASDAQ:MU) Shares Bought by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. raised its position in Micron Technology, Inc. (NASDAQ:MUFree Report) by 4.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 58,075 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,689 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Micron Technology were worth $4,956,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MU. Northern Trust Corp raised its stake in shares of Micron Technology by 0.7% during the third quarter. Northern Trust Corp now owns 10,833,670 shares of the semiconductor manufacturer’s stock worth $737,015,000 after purchasing an additional 80,345 shares during the last quarter. L2 Asset Management LLC increased its holdings in Micron Technology by 492.3% in the third quarter. L2 Asset Management LLC now owns 26,444 shares of the semiconductor manufacturer’s stock valued at $1,799,000 after buying an additional 21,979 shares in the last quarter. Invesco Ltd. lifted its position in shares of Micron Technology by 11.8% during the 3rd quarter. Invesco Ltd. now owns 8,807,926 shares of the semiconductor manufacturer’s stock valued at $599,203,000 after acquiring an additional 927,302 shares during the period. Merlin Capital Inc purchased a new stake in shares of Micron Technology during the 3rd quarter worth approximately $407,000. Finally, Amitell Capital Pte Ltd grew its holdings in shares of Micron Technology by 97.9% in the 3rd quarter. Amitell Capital Pte Ltd now owns 95,210 shares of the semiconductor manufacturer’s stock worth $6,477,000 after acquiring an additional 47,105 shares during the period. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $123.00 on Tuesday. The company’s fifty day moving average is $111.77 and its two-hundred day moving average is $91.80. Micron Technology, Inc. has a 12-month low of $60.50 and a 12-month high of $130.54. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40.

Micron Technology (NASDAQ:MUGet Free Report) last posted its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.69. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The business had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same period in the prior year, the firm earned ($2.03) earnings per share. The firm’s revenue was up 57.7% compared to the same quarter last year. Equities research analysts predict that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date of this dividend was Thursday, March 28th. Micron Technology’s dividend payout ratio is presently -13.33%.

Analyst Upgrades and Downgrades

MU has been the topic of several recent research reports. Wedbush upped their price objective on Micron Technology from $103.00 to $130.00 and gave the company an “outperform” rating in a research report on Thursday, March 21st. Fox Advisors raised Micron Technology from an “equal weight” rating to an “overweight” rating in a research report on Thursday, March 21st. KeyCorp raised their price target on Micron Technology from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Bank of America upped their price objective on shares of Micron Technology from $120.00 to $144.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $140.00 target price on shares of Micron Technology in a research report on Friday, April 12th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $124.60.

Read Our Latest Analysis on Micron Technology

Insiders Place Their Bets

In related news, CEO Sanjay Mehrotra sold 45,000 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $130.00, for a total transaction of $5,850,000.00. Following the completion of the sale, the chief executive officer now directly owns 728,557 shares of the company’s stock, valued at approximately $94,712,410. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Sanjay Mehrotra sold 45,000 shares of Micron Technology stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $130.00, for a total transaction of $5,850,000.00. Following the sale, the chief executive officer now owns 728,557 shares of the company’s stock, valued at approximately $94,712,410. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott J. Deboer sold 40,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $110.31, for a total transaction of $4,412,400.00. Following the completion of the sale, the executive vice president now directly owns 158,617 shares in the company, valued at approximately $17,497,041.27. The disclosure for this sale can be found here. Insiders have sold 395,446 shares of company stock valued at $45,156,253 over the last three months. 0.32% of the stock is currently owned by insiders.

About Micron Technology

(Free Report)

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.

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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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