Wealth Enhancement Advisory Services LLC Has $48.62 Million Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 81.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 577,737 shares of the semiconductor manufacturer’s stock after buying an additional 259,627 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Micron Technology were worth $48,622,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Stonebrook Private Inc. grew its stake in Micron Technology by 4.2% in the 3rd quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock valued at $255,000 after buying an additional 98 shares during the last quarter. John G Ullman & Associates Inc. grew its stake in Micron Technology by 2.5% in the 3rd quarter. John G Ullman & Associates Inc. now owns 4,063 shares of the semiconductor manufacturer’s stock valued at $421,000 after buying an additional 100 shares during the last quarter. Trust Co. of Vermont grew its stake in Micron Technology by 14.3% in the 3rd quarter. Trust Co. of Vermont now owns 821 shares of the semiconductor manufacturer’s stock valued at $85,000 after buying an additional 103 shares during the last quarter. PDS Planning Inc grew its stake in Micron Technology by 2.4% in the 3rd quarter. PDS Planning Inc now owns 4,382 shares of the semiconductor manufacturer’s stock valued at $454,000 after buying an additional 104 shares during the last quarter. Finally, Legacy Financial Advisors Inc. grew its stake in Micron Technology by 5.3% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 2,357 shares of the semiconductor manufacturer’s stock valued at $310,000 after buying an additional 118 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Trading Down 0.1 %

Shares of Micron Technology stock opened at $99.34 on Friday. The stock has a market capitalization of $110.68 billion, a P/E ratio of 146.09 and a beta of 1.18. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. The company has a 50-day simple moving average of $98.68 and a 200 day simple moving average of $103.69. Micron Technology, Inc. has a 12-month low of $79.15 and a 12-month high of $157.54.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. The business had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.71 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The firm’s revenue for the quarter was up 84.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.95) EPS. Research analysts expect that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th will be given a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.46%. The ex-dividend date is Monday, December 30th. Micron Technology’s payout ratio is presently 13.26%.

Analyst Upgrades and Downgrades

MU has been the topic of a number of research analyst reports. Wells Fargo & Company lowered their target price on shares of Micron Technology from $175.00 to $140.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Robert W. Baird reduced their price target on shares of Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. Susquehanna reduced their price target on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a report on Thursday, September 26th. Sanford C. Bernstein reduced their price target on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. Finally, 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Micron Technology has an average rating of “Moderate Buy” and an average target price of $135.24.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the sale, the executive vice president now owns 181,223 shares in the company, valued at approximately $15,442,011.83. This trade represents a 2.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.30% of the company’s stock.

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.