Krilogy Financial LLC Sells 15,754 Shares of Micron Technology, Inc. (NASDAQ:MU)

Krilogy Financial LLC lessened its stake in Micron Technology, Inc. (NASDAQ:MU) by 38.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,455 shares of the semiconductor manufacturer’s stock after selling 15,754 shares during the quarter. Krilogy Financial LLC’s holdings in Micron Technology were worth $2,142,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in MU. ProVise Management Group LLC acquired a new stake in Micron Technology in the second quarter worth $236,000. Intech Investment Management LLC increased its position in shares of Micron Technology by 111.3% in the 2nd quarter. Intech Investment Management LLC now owns 93,026 shares of the semiconductor manufacturer’s stock valued at $12,236,000 after buying an additional 49,001 shares in the last quarter. Ieq Capital LLC lifted its holdings in Micron Technology by 10.8% during the second quarter. Ieq Capital LLC now owns 56,017 shares of the semiconductor manufacturer’s stock worth $7,368,000 after acquiring an additional 5,473 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in Micron Technology by 17.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,163 shares of the semiconductor manufacturer’s stock valued at $547,000 after acquiring an additional 618 shares during the period. Finally, AE Wealth Management LLC increased its holdings in shares of Micron Technology by 143.0% in the second quarter. AE Wealth Management LLC now owns 12,636 shares of the semiconductor manufacturer’s stock worth $1,662,000 after acquiring an additional 7,435 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Up 3.1 %

Shares of NASDAQ MU opened at $105.75 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. Micron Technology, Inc. has a 1 year low of $79.15 and a 1 year high of $157.54. The firm has a market cap of $117.82 billion, a PE ratio of 30.48 and a beta of 1.18. The company has a 50 day simple moving average of $97.87 and a 200 day simple moving average of $102.48.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. During the same period in the prior year, the firm posted ($0.95) EPS. The company’s quarterly revenue was up 84.3% on a year-over-year basis. On average, research analysts forecast that Micron Technology, Inc. will post 6.25 EPS for the current year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 annualized dividend and a dividend yield of 0.43%. Micron Technology’s payout ratio is 13.26%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Stifel Nicolaus reduced their price target on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Morgan Stanley reduced their target price on shares of Micron Technology from $114.00 to $98.00 and set an “equal weight” rating for the company in a research note on Thursday, December 19th. China Renaissance began coverage on Micron Technology in a research note on Monday, October 28th. They issued a “buy” rating and a $148.00 price target on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price objective on shares of Micron Technology in a research report on Wednesday, December 18th. Finally, UBS Group dropped their target price on Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat.com, Micron Technology presently has an average rating of “Moderate Buy” and a consensus target price of $135.24.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the completion of the sale, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.30% of the stock is currently 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.