6,505 Shares in Micron Technology, Inc. (NASDAQ:MU) Bought by Gilliland Jeter Wealth Management LLC

Gilliland Jeter Wealth Management LLC bought a new position in Micron Technology, Inc. (NASDAQ:MU) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 6,505 shares of the semiconductor manufacturer’s stock, valued at approximately $555,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Micron Technology by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 94,229,187 shares of the semiconductor manufacturer’s stock worth $6,410,412,000 after buying an additional 305,860 shares during the last quarter. FMR LLC boosted its stake in shares of Micron Technology by 47.9% during the 3rd quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer’s stock worth $1,489,801,000 after buying an additional 7,089,790 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Micron Technology by 43.4% during the 3rd quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock worth $1,182,608,000 after buying an additional 5,257,201 shares during the last quarter. Morgan Stanley lifted its stake in Micron Technology by 19.7% in the 3rd quarter. Morgan Stanley now owns 17,303,400 shares of the semiconductor manufacturer’s stock valued at $1,177,151,000 after purchasing an additional 2,852,688 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Micron Technology by 0.7% in the 3rd quarter. Northern Trust Corp now owns 10,833,670 shares of the semiconductor manufacturer’s stock valued at $737,015,000 after purchasing an additional 80,345 shares during the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Stock Up 2.9 %

Micron Technology stock traded up $3.26 during midday trading on Friday, hitting $114.84. 20,612,299 shares of the stock were exchanged, compared to its average volume of 24,401,036. Micron Technology, Inc. has a 52-week low of $59.55 and a 52-week high of $130.54. The business’s 50-day moving average price is $105.94 and its 200-day moving average price is $88.17. The company has a quick ratio of 2.40, a current ratio of 3.74 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 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.69. The firm had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The company’s quarterly revenue was up 57.7% on a year-over-year basis. During the same period in the previous year, the company earned ($2.03) earnings per share. Sell-side analysts predict that Micron Technology, Inc. will post 0.24 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend was Thursday, March 28th. Micron Technology’s payout ratio is currently -13.33%.

Analysts Set New Price Targets

MU has been the subject of several recent analyst reports. Fox Advisors upgraded shares of Micron Technology from an “equal weight” rating to an “overweight” rating in a research note on Thursday, March 21st. Robert W. Baird raised their target price on shares of Micron Technology from $78.00 to $115.00 and gave the company a “neutral” rating in a research note on Tuesday, March 19th. JPMorgan Chase & Co. increased their price target on shares of Micron Technology from $105.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. Stifel Nicolaus reissued a “buy” rating and issued a $140.00 price target on shares of Micron Technology in a report on Friday, April 12th. Finally, Piper Sandler increased their price target on shares of Micron Technology from $95.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $122.20.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total transaction of $583,377.00. Following the sale, the executive vice president now directly owns 148,817 shares in the company, valued at approximately $17,753,868.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total transaction of $583,377.00. Following the sale, the executive vice president now directly owns 148,817 shares in the company, valued at approximately $17,753,868.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $111.93, for a total transaction of $783,510.00. Following the sale, the chief executive officer now directly owns 719,049 shares in the company, valued at approximately $80,483,154.57. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 268,890 shares of company stock worth $29,738,667. 0.32% of the stock is owned by corporate insiders.

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.