First Trust Advisors LP Has $139.16 Million Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

First Trust Advisors LP lowered its stake in Micron Technology, Inc. (NASDAQ:MU) by 15.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,653,517 shares of the semiconductor manufacturer’s stock after selling 293,723 shares during the quarter. First Trust Advisors LP owned approximately 0.15% of Micron Technology worth $139,160,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of MU. Beacon Capital Management LLC boosted its position in Micron Technology by 114.9% during the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after acquiring an additional 200 shares during the period. Midwest Capital Advisors LLC purchased a new position in Micron Technology during the fourth quarter valued at approximately $33,000. Activest Wealth Management increased its stake in Micron Technology by 583.3% in the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 350 shares during the period. Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Micron Technology during the 4th quarter valued at $34,000. Finally, Curio Wealth LLC acquired a new position in shares of Micron Technology in the fourth quarter worth $34,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Micron Technology

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

Micron Technology Price Performance

Shares of Micron Technology stock opened at $68.80 on Friday. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $157.54. 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 firm has a market cap of $76.89 billion, a P/E ratio of 19.83 and a beta of 1.18. The firm’s 50-day simple moving average is $88.23 and its 200-day simple moving average is $95.89.

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

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.46 annualized dividend and a yield of 0.67%. Micron Technology’s dividend payout ratio is 11.03%.

Wall Street Analyst Weigh In

A number of research analysts have commented on MU shares. Robert W. Baird boosted their target price on Micron Technology from $130.00 to $163.00 and gave the company an “outperform” rating in a research note on Friday, March 21st. Citigroup cut their price objective on shares of Micron Technology from $120.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Barclays increased their price target on shares of Micron Technology from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. Wells Fargo & Company decreased their price objective on shares of Micron Technology from $140.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Finally, KGI Securities upgraded Micron Technology to a “strong-buy” rating in a research note on Friday, February 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $129.36.

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.