Dearborn Partners LLC Acquires 1,000 Shares of Micron Technology, Inc. (NASDAQ:MU)

Dearborn Partners LLC raised its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 36.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,711 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,000 shares during the period. Dearborn Partners LLC’s holdings in Micron Technology were worth $312,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Independent Advisor Alliance raised its holdings in Micron Technology by 14.5% in the 4th quarter. Independent Advisor Alliance now owns 65,721 shares of the semiconductor manufacturer’s stock worth $5,531,000 after purchasing an additional 8,308 shares in the last quarter. Johnson Investment Counsel Inc. increased its position in shares of Micron Technology by 6.0% during the fourth quarter. Johnson Investment Counsel Inc. now owns 7,203 shares of the semiconductor manufacturer’s stock valued at $606,000 after buying an additional 408 shares during the period. Daiwa Securities Group Inc. raised its stake in Micron Technology by 8.9% in the fourth quarter. Daiwa Securities Group Inc. now owns 251,371 shares of the semiconductor manufacturer’s stock worth $21,160,000 after buying an additional 20,520 shares in the last quarter. Moran Wealth Management LLC lifted its holdings in Micron Technology by 258.9% in the fourth quarter. Moran Wealth Management LLC now owns 46,696 shares of the semiconductor manufacturer’s stock worth $3,930,000 after buying an additional 33,685 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Micron Technology by 17.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,133,375 shares of the semiconductor manufacturer’s stock valued at $95,385,000 after acquiring an additional 168,631 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Up 2.3 %

Shares of Micron Technology stock opened at $89.05 on Wednesday. Micron Technology, Inc. has a twelve month low of $83.54 and a twelve month high of $157.54. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The company’s 50 day moving average is $96.12 and its 200 day moving average is $98.07. The company has a market cap of $99.22 billion, a price-to-earnings ratio of 25.66 and a beta of 1.23.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.71 billion. During the same period in the prior year, the firm earned ($0.95) EPS. The company’s revenue was up 84.3% compared to the same quarter last year. Research analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were paid a dividend of $0.115 per share. The ex-dividend date was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.52%. Micron Technology’s dividend payout ratio is currently 13.26%.

Analyst Ratings Changes

Several research analysts have recently issued reports on MU shares. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 target price on shares of Micron Technology in a research report on Wednesday, December 18th. Bank of America lowered Micron Technology from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $125.00 to $110.00 in a research report on Thursday, December 19th. Stifel Nicolaus reduced their target price on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Morgan Stanley lowered their price target on shares of Micron Technology from $98.00 to $91.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. Finally, Barclays cut their price objective on shares of Micron Technology from $145.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday, December 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $134.96.

Insider Activity

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the transaction, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at $15,442,011.83. The trade was a 2.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the sale, the director now directly owns 27,358 shares of the company’s stock, valued at $2,542,378.94. This represents a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

About Micron Technology

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.