Xponance Inc. Acquires 16,889 Shares of Micron Technology, Inc. (NASDAQ:MU)

Xponance Inc. lifted its holdings in Micron Technology, Inc. (NASDAQ:MU) by 12.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 150,497 shares of the semiconductor manufacturer’s stock after purchasing an additional 16,889 shares during the period. Xponance Inc.’s holdings in Micron Technology were worth $12,843,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in MU. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Micron Technology during the third quarter worth about $28,000. OFI Invest Asset Management acquired a new stake in Micron Technology during the third quarter worth about $27,000. VisionPoint Advisory Group LLC grew its stake in Micron Technology by 68.3% during the third quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock worth $33,000 after buying an additional 198 shares in the last quarter. Coppell Advisory Solutions LLC acquired a new stake in Micron Technology during the second quarter worth about $32,000. Finally, Fortis Capital Advisors LLC acquired a new stake in shares of Micron Technology in the 4th quarter valued at approximately $25,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Price Performance

MU stock traded down $2.23 during midday trading on Friday, reaching $109.70. 4,553,008 shares of the company’s stock traded hands, compared to its average volume of 20,250,453. The firm’s fifty day moving average price is $102.53 and its 200-day moving average price is $86.40. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74. Micron Technology, Inc. has a 52 week low of $58.03 and a 52 week high of $130.54.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.69. The business had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. Micron Technology’s quarterly revenue was up 57.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($2.03) EPS. On average, sell-side analysts predict that Micron Technology, Inc. will post 0.24 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were paid a dividend of $0.115 per share. The ex-dividend date was Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a yield of 0.42%. Micron Technology’s dividend payout ratio (DPR) is presently -13.33%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. KeyCorp raised their price target on shares of Micron Technology from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Micron Technology from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, December 21st. Rosenblatt Securities reiterated a “buy” rating and set a $140.00 target price on shares of Micron Technology in a research report on Monday, March 18th. Morgan Stanley lifted their target price on shares of Micron Technology from $78.00 to $98.00 and gave the stock an “underweight” rating in a research report on Thursday, March 21st. Finally, Robert W. Baird lifted their target price on shares of Micron Technology from $78.00 to $115.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 19th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.20.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction 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 transaction, the executive vice president now directly owns 148,817 shares of the company’s stock, valued at approximately $17,753,868.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction 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 transaction, the executive vice president now directly owns 148,817 shares of the company’s stock, valued at approximately $17,753,868.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sanjay Mehrotra sold 45,000 shares of Micron Technology stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $130.00, for a total transaction of $5,850,000.00. Following the transaction, the chief executive officer now directly owns 728,557 shares in the company, valued at $94,712,410. The disclosure for this sale can be found here. In the last 90 days, insiders sold 313,890 shares of company stock worth $33,617,027. 0.32% of the stock is owned by corporate insiders.

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.