Good Life Advisors LLC Cuts Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Good Life Advisors LLC decreased its position in Micron Technology, Inc. (NASDAQ:MU) by 7.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 8,134 shares of the semiconductor manufacturer’s stock after selling 667 shares during the period. Good Life Advisors LLC’s holdings in Micron Technology were worth $694,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in MU. Successful Portfolios LLC lifted its position in Micron Technology by 61.1% during the 4th quarter. Successful Portfolios LLC now owns 6,331 shares of the semiconductor manufacturer’s stock worth $540,000 after acquiring an additional 2,400 shares in the last quarter. WestEnd Advisors LLC grew its stake in Micron Technology by 3,447,500.0% during the 4th quarter. WestEnd Advisors LLC now owns 241,332 shares of the semiconductor manufacturer’s stock worth $20,595,000 after buying an additional 241,325 shares during the last quarter. IFG Advisory LLC acquired a new position in Micron Technology during the 4th quarter worth $228,000. Highland Capital Management LLC boosted its position in Micron Technology by 0.4% during the 4th quarter. Highland Capital Management LLC now owns 206,649 shares of the semiconductor manufacturer’s stock worth $17,635,000 after acquiring an additional 782 shares during the period. Finally, HMS Capital Management LLC lifted its holdings in shares of Micron Technology by 0.7% in the fourth quarter. HMS Capital Management LLC now owns 19,842 shares of the semiconductor manufacturer’s stock valued at $1,693,000 after buying an additional 138 shares during the period. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Trading Down 1.0 %

Shares of MU stock traded down $1.25 on Thursday, reaching $117.89. The company had a trading volume of 19,009,290 shares, compared to its average volume of 18,932,242. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30. The company has a 50-day moving average of $90.63 and a 200-day moving average of $80.38. Micron Technology, Inc. has a 12 month low of $56.01 and a 12 month high of $122.46. The stock has a market cap of $130.55 billion, a PE ratio of -34.31 and a beta of 1.24.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. 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 previous year, the firm earned ($2.03) EPS. Micron Technology’s quarterly revenue was up 57.7% compared to the same quarter last year. On average, equities analysts forecast that Micron Technology, Inc. will post 0.01 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st will be paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis 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%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on MU shares. StockNews.com raised shares of Micron Technology from a “sell” rating to a “hold” rating in a research report on Friday, March 22nd. Rosenblatt Securities reaffirmed a “buy” rating and set a $140.00 price objective on shares of Micron Technology in a research report on Monday, March 18th. Bank of America raised their price objective on shares of Micron Technology from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Mizuho raised their price objective on shares of Micron Technology from $105.00 to $124.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Finally, Raymond James raised their price objective on shares of Micron Technology from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat, Micron Technology has a consensus rating of “Moderate Buy” and a consensus target price of $118.69.

Insider Transactions at Micron Technology

In related news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $83.63, for a total value of $585,410.00. Following the sale, the chief executive officer now owns 651,759 shares in the company, valued at approximately $54,506,605.17. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 264,000 shares of company stock worth $26,368,640 in the last 90 days. Corporate insiders own 0.32% of the company’s stock.

Micron Technology 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.