HighPoint Advisor Group LLC Invests $1.35 Million in Micron Technology, Inc. (NASDAQ:MU)

HighPoint Advisor Group LLC acquired a new stake in shares of Micron Technology, Inc. (NASDAQ:MU) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 15,818 shares of the semiconductor manufacturer’s stock, valued at approximately $1,350,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sandy Spring Bank boosted its position in 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 acquiring an additional 130 shares during the last quarter. HMS Capital Management LLC boosted its position in Micron Technology by 0.7% during the fourth quarter. HMS Capital Management LLC now owns 19,842 shares of the semiconductor manufacturer’s stock worth $1,693,000 after acquiring an additional 138 shares during the last quarter. JFS Wealth Advisors LLC boosted its position in Micron Technology by 11.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 1,417 shares of the semiconductor manufacturer’s stock worth $121,000 after acquiring an additional 140 shares during the last quarter. Allworth Financial LP boosted its position in Micron Technology by 3.0% during the fourth quarter. Allworth Financial LP now owns 5,125 shares of the semiconductor manufacturer’s stock worth $437,000 after acquiring an additional 150 shares during the last quarter. Finally, Vise Technologies Inc. boosted its position in Micron Technology by 4.1% during the fourth quarter. Vise Technologies Inc. now owns 3,864 shares of the semiconductor manufacturer’s stock worth $330,000 after acquiring an additional 151 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Micron Technology news, EVP Scott J. Deboer sold 40,000 shares of Micron Technology stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $110.31, for a total transaction of $4,412,400.00. Following the completion of the transaction, the executive vice president now owns 158,617 shares in the company, valued at $17,497,041.27. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Scott J. Deboer sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $110.31, for a total value of $4,412,400.00. Following the completion of the transaction, the executive vice president now owns 158,617 shares of the company’s stock, valued at $17,497,041.27. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $134.57, for a total transaction of $941,990.00. Following the completion of the transaction, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at approximately $96,762,423.93. The disclosure for this sale can be found here. Over the last quarter, insiders sold 365,446 shares of company stock worth $43,826,633. Insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on MU shares. JPMorgan Chase & Co. boosted their target price on shares of Micron Technology from $105.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. Robert W. Baird upgraded shares of Micron Technology from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $115.00 to $150.00 in a report on Monday, May 6th. KeyCorp boosted their target price on shares of Micron Technology from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Rosenblatt Securities reissued a “buy” rating and issued a $140.00 price target on shares of Micron Technology in a research note on Monday, March 18th. Finally, Morgan Stanley raised shares of Micron Technology from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $98.00 to $130.00 in a research report on Monday, May 20th. Two analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $137.92.

Micron Technology Stock Performance

Micron Technology stock traded up $6.94 during midday trading on Tuesday, hitting $154.77. 8,589,033 shares of the company’s stock were exchanged, compared to its average volume of 18,966,207. Micron Technology, Inc. has a 12-month low of $60.50 and a 12-month high of $156.35. 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 has a market cap of $171.39 billion, a price-to-earnings ratio of -45.23 and a beta of 1.21. The firm’s 50 day simple moving average is $123.99 and its 200 day simple moving average is $102.27.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $5.35 billion. During the same quarter last year, the business earned ($2.03) earnings per share. The business’s revenue for the quarter was up 57.7% compared to the same quarter last year. Equities research analysts predict that Micron Technology, Inc. will post 0.29 EPS for the current year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.30%. The ex-dividend date of this dividend was Thursday, March 28th. Micron Technology’s dividend payout ratio (DPR) is -13.33%.

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.