Pure Financial Advisors LLC Cuts Holdings in Micron Technology, Inc.  (NASDAQ:MU)


Pure Financial Advisors LLC lowered its position in shares of Micron Technology, Inc. (NASDAQ:MU – Free Report ) by 16.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,871 shares of the semiconductor manufacturer’s stock after selling 583 shares during the period. Pure Financial Advisors LLC’s holdings in Micron Technology were worth $245,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Micron Technology by 0.3% in the third quarter. Vanguard Group Inc. now owns 94,229,187 shares of the semiconductor manufacturer’s stock valued at $6,410,412,000 after purchasing an additional 305,860 shares during the last quarter. State Street Corp raised its holdings in shares of Micron Technology by 0.6% in the second quarter. State Street Corp now owns 46,193,578 shares of the semiconductor manufacturer’s stock valued at $2,915,277,000 after buying an additional 282,292 shares during the last quarter. FMR LLC lifted its holdings in shares of Micron Technology by 47.9% in the third quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer’s stock valued at $1,489,801,000 after buying an additional 7,089,790 shares during the last quarter. Capital World Investors lifted its holdings in shares of Micron Technology by 19.8% in the second quarter. Capital World Investors now owns 21,320,648 shares of the semiconductor manufacturer’s stock valued at $1,345,546,000 after purchasing an additional 3,523,684 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Micron Technology by 2.4% in the second quarter. Geode Capital Management LLC now owns 20,833,138 shares of the semiconductor manufacturer’s stock worth $1,311,265,000 after purchasing an additional 484,293 shares during the last quarter. Hedge funds and other institutional investors own 79.25% of the company’s shares.

Analysts set new price targets

A number of research analysts recently commented on the stock. KeyCorp reaffirmed an “overweight” rating on shares of Micron Technology in a report on Wednesday, January 31st. Mizuho boosted their price objective on shares of Micron Technology from $100.00 to $105.00 and gave the company a “buy” rating in a report on Friday, March 1st. Cantor Fitzgerald assumed coverage on shares of Micron Technology in a research note on Tuesday, January 23rd. They issued an “overweight” rating and a $100.00 price objective for the company. JPMorgan Chase & Co. upped their price objective on shares of Micron Technology from $90.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, December 21st. Finally, Rosenblatt Securities reissued a “buy” rating on shares of Micron Technology in a research note on Tuesday, December 19th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Moderate Buy” and a consensus target price of $100.27, according to MarketBeat .

Check out our latest Stock Report on Micron Technology

Micron Technology Stock Performance

Shares of MU stock opened at $93.25 on Friday. The firm has a market cap of $102.94 billion, a price-to-earnings ratio of -14.85 and a beta of 1.24. The company’s 50-day moving average is $87.50 and its 200-day moving average is $78.55. The company has a quick ratio of 2.14, a current ratio of 3.53, and a debt-to-equity ratio of 0.29. Micron Technology, Inc. it has a 52-week low of $53.61 and a 52-week high of $101.85.

Micron Technology (NASDAQ:MU – Get Your Free Report ) last issued its quarterly earnings data on Wednesday, December 20th. The semiconductor maker reported ($0.95) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.01) by $0.06. Micron Technology had a negative net margin of 42.47% and a negative return on equity of 14.44%. The company had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.58 billion. During the same period last year, the company posted ($0.15) earnings per share. Micron Technology’s revenue was up 15.7% compared to the same quarter last year. On average, sell-side analysts predict that Micron Technology, Inc. will post -0.86 EPS for the current fiscal year.

Micron Technology announces dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 18th. Shareholders of record on Tuesday, January 2nd were given a $0.115 dividend. This represents an annual dividend of $0.46 and a yield of 0.49%. The ex-dividend date of this dividend was Friday, December 29th. Micron Technology’s dividend payout ratio is currently -7.32%.

Insiders place their bets

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $95.64, for a total value of $669,480.00. Following the transaction, the chief executive officer now directly owns 773,557 shares of the company’s stock, valued at $73,982,991.48. The transaction was disclosed in a filing with the Securities and Exchange Commission, which is available through the SEC’s website. In other news, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $95.64, for a total transaction of $669,480.00. Following the sale, the chief executive officer now directly owns 773,557 shares of the company’s stock, valued at $73,982,991.48. The sale was disclosed in a filing with the Securities and Exchange Commission, which is available through this link. Also, EVP Scott J. Deboer sold 28,228 shares of the business’s stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $87.24, for a total transaction of $2,462,610.72. Following the sale, the executive vice president now directly owns 203,342 shares in the company, valued at $17,739,556.08. Disclosure for this sale can be found here. Over the last three months, insiders have sold 209,228 shares of company stock worth $18,854,501. 0.32% of shares are currently owned by insiders.

Micron Technology Company Profile

(Free Report)

Micron Technology, Inc designs, develops, manufactures and sells memory and storage products worldwide. The company operates through four segments: Computing and Networking Business Unit, Mobile Business Unit, Embedded Business Unit and Storage Business Unit. It provides memory and storage technologies that include low-latency dynamic random-access memory semiconductor devices that ensure high-speed data acquisition; non-volatile and rewritable semiconductor storage devices; and rewritable non-volatile semiconductor memory devices that offer fast read speeds under the Micron and Crucial brands as well as through private label.

See also

Want to see what other hedge funds MU is holding? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for Micron Technology, Inc. ( NASDAQ:MU – Free Report ).

Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)



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