Micron Technology, Inc. (NASDAQ:MU) is DCF Advisers LLC’s Largest Position

DCF Advisers LLC trimmed its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 9.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 155,000 shares of the semiconductor manufacturer’s stock after selling 16,000 shares during the quarter. Micron Technology accounts for about 7.2% of DCF Advisers LLC’s portfolio, making the stock its largest position. DCF Advisers LLC’s holdings in Micron Technology were worth $13,228,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Sandy Spring Bank grew its holdings in shares of Micron Technology by 11.1% during the fourth quarter. Sandy Spring Bank now owns 1,305 shares of the semiconductor manufacturer’s stock worth $111,000 after buying an additional 130 shares in the last quarter. HMS Capital Management LLC grew its stake in Micron Technology by 0.7% during the 4th quarter. HMS Capital Management LLC now owns 19,842 shares of the semiconductor manufacturer’s stock valued at $1,693,000 after acquiring an additional 138 shares in the last quarter. JFS Wealth Advisors LLC raised its holdings in Micron Technology by 11.0% in the 4th quarter. JFS Wealth Advisors LLC now owns 1,417 shares of the semiconductor manufacturer’s stock valued at $121,000 after acquiring an additional 140 shares during the last quarter. Huntington National Bank lifted its stake in Micron Technology by 6.0% in the 3rd quarter. Huntington National Bank now owns 2,652 shares of the semiconductor manufacturer’s stock worth $180,000 after purchasing an additional 149 shares in the last quarter. Finally, Allworth Financial LP boosted its holdings in shares of Micron Technology by 3.0% during the 4th quarter. Allworth Financial LP now owns 5,125 shares of the semiconductor manufacturer’s stock worth $437,000 after purchasing an additional 150 shares during the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Micron Technology news, EVP Sumit Sadana sold 13,239 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $118.77, for a total transaction of $1,572,396.03. Following the completion of the sale, the executive vice president now owns 260,857 shares in the company, valued at approximately $30,981,985.89. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Sumit Sadana sold 13,239 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $118.77, for a total value of $1,572,396.03. Following the sale, the executive vice president now directly owns 260,857 shares of the company’s stock, valued at $30,981,985.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sanjay Mehrotra sold 45,000 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $100.00, for a total transaction of $4,500,000.00. Following the transaction, the chief executive officer now owns 773,557 shares in the company, valued at $77,355,700. The disclosure for this sale can be found here. Insiders have sold 410,446 shares of company stock valued at $47,822,703 in the last quarter. Company insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Cantor Fitzgerald increased their price target on Micron Technology from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Fox Advisors raised Micron Technology from an “equal weight” rating to an “overweight” rating in a research note on Thursday, March 21st. Bank of America boosted their price target on shares of Micron Technology from $120.00 to $144.00 and gave the company a “buy” rating in a research report on Monday, April 1st. TD Cowen raised their price objective on shares of Micron Technology from $120.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, March 21st. Finally, The Goldman Sachs Group lifted their target price on shares of Micron Technology from $122.00 to $138.00 and gave the stock a “buy” rating in a research note on Tuesday. Two research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $128.76.

Micron Technology Trading Up 3.0 %

Micron Technology stock traded up $3.84 during trading on Wednesday, reaching $130.48. The company had a trading volume of 9,175,872 shares, compared to its average volume of 19,153,563. The firm has a market capitalization of $144.49 billion, a price-to-earnings ratio of -37.68 and a beta of 1.21. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74. The stock’s 50 day moving average price is $121.25 and its two-hundred day moving average price is $98.43. Micron Technology, Inc. has a 12-month low of $60.50 and a 12-month high of $133.30.

Micron Technology (NASDAQ:MU) last announced its quarterly 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. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The firm had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.35 billion. During the same period in the previous year, the company posted ($2.03) earnings per share. Micron Technology’s revenue was up 57.7% compared to the same quarter last year. As a group, equities analysts expect that Micron Technology, Inc. will post 0.29 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date was Thursday, March 28th. Micron Technology’s payout ratio is -13.33%.

About Micron Technology

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.