Sequoia Financial Advisors LLC Raises Holdings in Micron Technology, Inc. (NASDAQ:MU)

Sequoia Financial Advisors LLC lifted its stake in Micron Technology, Inc. (NASDAQ:MU – Get Rating) by 17.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,328 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,443 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Micron Technology were worth $816,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Banque Cantonale Vaudoise grew its stake in Micron Technology by 29.7% during the 4th quarter. Banque Cantonale Vaudoise now owns 69,985 shares of the semiconductor manufacturer’s stock valued at $3,497,000 after purchasing an additional 16,027 shares during the last quarter. Aviva PLC boosted its position in Micron Technology by 23.6% in the fourth quarter. Aviva PLC now owns 512,893 shares of the semiconductor manufacturer’s stock valued at $15,893,000 after buying an additional 98,066 shares during the last quarter. Heritage Trust Co raised its position in Micron Technology by 6.0% during the 4th quarter. Heritage Trust Co now owns 9,122 shares of the semiconductor manufacturer’s stock worth $456,000 after buying an additional 520 shares during the last quarter. Franklin Resources Inc. lifted its stake in Micron Technology by 5.7% during the 4th quarter. Franklin Resources Inc. now owns 5,058,002 shares of the semiconductor manufacturer’s stock valued at $252,799,000 after acquiring an additional 272,855 shares during the period. Finally, O Shaughnessy Asset Management LLC boosted its holdings in shares of Micron Technology by 14.6% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 120,429 shares of the semiconductor manufacturer’s stock valued at $6,019,000 after acquiring an additional 15,343 shares during the last quarter. 78.02% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Scott J. Deboer sold 20,000 shares of the firm’s stock in a transaction on Wednesday, March 22nd. The stock was sold at an average price of $60.00, for a total transaction of $1,200,000.00. Following the sale, the executive vice president now owns 208,340 shares in the company, valued at $12,500,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Micron Technology news, EVP Scott J. Deboer sold 20,000 shares of the business’s stock in a transaction dated Wednesday, March 22nd. The stock was sold at an average price of $60.00, for a total transaction of $1,200,000.00. Following the completion of the sale, the executive vice president now owns 208,340 shares of the company’s stock, valued at $12,500,400. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard M. Beyer sold 4,000 shares of the business’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $59.88, for a total value of $239,520.00. Following the sale, the director now directly owns 95,660 shares of the company’s stock, valued at approximately $5,728,120.80. The disclosure for this sale can be found here. Insiders have sold 64,000 shares of company stock worth $3,770,320 in the last three months. Corporate insiders own 0.33% of the company’s stock.

Micron Technology Trading Up 4.6 %

Shares of MU stock opened at $69.61 on Friday. The business’s fifty day moving average price is $61.73 and its 200 day moving average price is $58.57. Micron Technology, Inc. has a 1-year low of $48.43 and a 1-year high of $75.41. The firm has a market capitalization of $75.94 billion, a PE ratio of 50.08 and a beta of 1.41. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.17 and a quick ratio of 2.62.

Micron Technology (NASDAQ:MU – Get Rating) last issued its earnings results on Tuesday, March 28th. The semiconductor manufacturer reported ($1.91) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.75) by ($1.16). Micron Technology had a net margin of 6.99% and a return on equity of 3.98%. The company had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $3.71 billion. During the same period last year, the business posted $2.05 earnings per share. The company’s quarterly revenue was down 52.6% on a year-over-year basis. As a group, sell-side analysts forecast that Micron Technology, Inc. will post -5.27 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 25th. Stockholders of record on Monday, April 10th were paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.66%. The ex-dividend date was Thursday, April 6th. Micron Technology’s dividend payout ratio (DPR) is presently 33.09%.

Analysts Set New Price Targets

MU has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their target price on shares of Micron Technology from $65.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, March 29th. StockNews.com started coverage on Micron Technology in a report on Thursday, May 18th. They set a “sell” rating on the stock. Robert W. Baird boosted their price target on Micron Technology from $45.00 to $60.00 and gave the company a “neutral” rating in a report on Wednesday, March 29th. Rosenblatt Securities reaffirmed a “buy” rating and set a $100.00 price objective on shares of Micron Technology in a research note on Wednesday, March 29th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $67.00 price target on shares of Micron Technology in a report on Monday, March 27th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $69.59.

Micron Technology Company Profile

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Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute & Networking Business Unit (CNBU), Mobile Business Unit (MBU), Storage Business Unit (SBU), and Embedded Business Unit (EBU). The CNBU segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.