Advocate Group LLC Has $2.45 Million Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Advocate Group LLC grew its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 5.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,708 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,391 shares during the period. Advocate Group LLC’s holdings in Micron Technology were worth $2,450,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in MU. Sei Investments Co. raised its holdings in shares of Micron Technology by 12.8% during the first quarter. Sei Investments Co. now owns 350,644 shares of the semiconductor manufacturer’s stock valued at $27,314,000 after purchasing an additional 39,693 shares during the period. Prudential PLC bought a new stake in shares of Micron Technology during the first quarter worth about $1,672,000. Brighton Jones LLC increased its position in shares of Micron Technology by 12.3% during the first quarter. Brighton Jones LLC now owns 2,909 shares of the semiconductor manufacturer’s stock worth $227,000 after acquiring an additional 318 shares in the last quarter. Baird Financial Group Inc. increased its position in shares of Micron Technology by 9.2% during the first quarter. Baird Financial Group Inc. now owns 200,423 shares of the semiconductor manufacturer’s stock worth $15,611,000 after acquiring an additional 16,953 shares in the last quarter. Finally, Zions Bancorporation N.A. increased its position in shares of Micron Technology by 52.5% during the first quarter. Zions Bancorporation N.A. now owns 2,121 shares of the semiconductor manufacturer’s stock worth $165,000 after acquiring an additional 730 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total value of $583,377.00. Following the sale, the executive vice president now owns 148,817 shares of the company’s stock, valued at approximately $17,753,868.10. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Sanjay Mehrotra sold 45,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $120.00, for a total value of $5,400,000.00. Following the completion of the sale, the chief executive officer now directly owns 743,557 shares of the company’s stock, valued at approximately $89,226,840. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total transaction of $583,377.00. Following the completion of the sale, the executive vice president now directly owns 148,817 shares of the company’s stock, valued at $17,753,868.10. The disclosure for this sale can be found here. Insiders have sold a total of 268,890 shares of company stock valued at $26,952,017 in the last quarter. Insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

MU has been the subject of several recent research reports. The Goldman Sachs Group boosted their target price on shares of Micron Technology from $85.00 to $97.00 and gave the stock a “buy” rating in a research report on Thursday, December 21st. Raymond James upped their price objective on shares of Micron Technology from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. Piper Sandler upped their price objective on shares of Micron Technology from $95.00 to $130.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. KeyCorp upped their price objective on shares of Micron Technology from $115.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. Finally, Argus raised shares of Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a research report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $118.69.

Micron Technology Price Performance

Shares of NASDAQ:MU traded down $1.24 during trading on Friday, reaching $117.89. The company had a trading volume of 21,047,778 shares, compared to its average volume of 28,482,330. The company has a fifty day moving average of $92.02 and a two-hundred day moving average of $80.91. The stock has a market capitalization of $130.55 billion, a P/E ratio of -34.17 and a beta of 1.24. Micron Technology, Inc. has a 12 month low of $56.01 and a 12 month high of $122.46. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, beating the consensus estimate 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 company had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same quarter last year, the firm earned ($2.03) EPS. The firm’s quarterly revenue was up 57.7% compared to the same quarter last year. Equities research analysts forecast that Micron Technology, Inc. will post 0.01 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 16th. Investors of record on Monday, April 1st will be issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.39%. The ex-dividend date is Thursday, March 28th. Micron Technology’s dividend payout ratio is currently -13.33%.

Micron Technology Company 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.