Advisors Capital Management LLC Has $291,000 Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Advisors Capital Management LLC raised its stake in Micron Technology, Inc. (NASDAQ:MU) by 21.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,456 shares of the semiconductor manufacturer’s stock after purchasing an additional 599 shares during the period. Advisors Capital Management LLC’s holdings in Micron Technology were worth $291,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. SOA Wealth Advisors LLC. raised its holdings in Micron Technology by 37.6% during the third quarter. SOA Wealth Advisors LLC. now owns 1,189 shares of the semiconductor manufacturer’s stock worth $123,000 after buying an additional 325 shares during the last quarter. SkyView Investment Advisors LLC lifted its position in Micron Technology by 3.7% in the 3rd quarter. SkyView Investment Advisors LLC now owns 6,696 shares of the semiconductor manufacturer’s stock valued at $694,000 after acquiring an additional 241 shares in the last quarter. Pine Valley Investments Ltd Liability Co boosted its stake in Micron Technology by 524.2% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 14,863 shares of the semiconductor manufacturer’s stock valued at $1,541,000 after purchasing an additional 12,482 shares during the last quarter. World Investment Advisors LLC increased its holdings in Micron Technology by 103.7% during the 3rd quarter. World Investment Advisors LLC now owns 3,315 shares of the semiconductor manufacturer’s stock worth $344,000 after purchasing an additional 1,688 shares in the last quarter. Finally, Arvest Bank Trust Division purchased a new stake in shares of Micron Technology in the third quarter worth approximately $21,406,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Stock Performance

Shares of MU opened at $71.04 on Wednesday. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $157.54. The stock’s 50-day simple moving average is $89.74 and its 200 day simple moving average is $96.57. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The stock has a market capitalization of $79.39 billion, a price-to-earnings ratio of 20.47 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. The firm had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company’s revenue for the quarter was up 38.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.42 earnings per share. Research analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a $0.115 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.65%. Micron Technology’s dividend payout ratio (DPR) is presently 11.03%.

Insider Activity at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total value of $223,403.72. Following the transaction, the director now owns 27,358 shares of the company’s stock, valued at $2,542,378.94. This represents a 8.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the sale, the executive vice president now directly owns 164,769 shares of the company’s stock, valued at $15,847,482.42. This represents a 8.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Robert W. Baird increased their price target on Micron Technology from $130.00 to $163.00 and gave the company an “outperform” rating in a research report on Friday, March 21st. China Renaissance lowered shares of Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 price target on the stock. in a research report on Wednesday, March 26th. TD Cowen reduced their price objective on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. KGI Securities raised shares of Micron Technology to a “strong-buy” rating in a research report on Friday, February 21st. Finally, The Goldman Sachs Group reduced their target price on Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $129.36.

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.