Paladin Advisory Group LLC Has $371,000 Position in Micron Technology, Inc. (NASDAQ:MU)

Paladin Advisory Group LLC reduced its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 5.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,342 shares of the semiconductor manufacturer’s stock after selling 261 shares during the period. Paladin Advisory Group LLC’s holdings in Micron Technology were worth $371,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sandy Spring Bank boosted its holdings in Micron Technology by 11.1% in 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 in the last quarter. HMS Capital Management LLC boosted its holdings in Micron Technology by 0.7% in 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 in the last quarter. Huntington National Bank boosted its holdings in Micron Technology by 6.0% in the third quarter. Huntington National Bank now owns 2,652 shares of the semiconductor manufacturer’s stock worth $180,000 after acquiring an additional 149 shares in the last quarter. Allworth Financial LP boosted its holdings in Micron Technology by 3.0% in 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 in the last quarter. Finally, Homestead Advisers Corp boosted its holdings in Micron Technology by 12.5% in the third quarter. Homestead Advisers Corp now owns 1,372 shares of the semiconductor manufacturer’s stock worth $93,000 after acquiring an additional 152 shares in the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total transaction of $583,377.00. Following the completion of the sale, the executive vice president now owns 148,817 shares of the company’s stock, valued at $17,753,868.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total value of $583,377.00. Following the completion of the sale, the executive vice president now owns 148,817 shares of the company’s stock, valued at approximately $17,753,868.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $87.41, for a total value of $611,870.00. Following the completion of the sale, the chief executive officer now directly owns 642,251 shares of the company’s stock, valued at approximately $56,139,159.91. The disclosure for this sale can be found here. Insiders sold a total of 313,890 shares of company stock valued at $33,617,027 over the last 90 days. Insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on MU. KeyCorp raised their target price on Micron Technology from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Stifel Nicolaus restated a “buy” rating and issued a $140.00 target price on shares of Micron Technology in a report on Friday, April 12th. Mizuho raised their target price on Micron Technology from $105.00 to $124.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Deutsche Bank Aktiengesellschaft raised their target price on Micron Technology from $85.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, December 21st. Finally, Evercore ISI raised their target price on Micron Technology from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, December 21st. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat.com, Micron Technology currently has an average rating of “Moderate Buy” and an average price target of $122.20.

Micron Technology Price Performance

NASDAQ:MU traded down $5.16 during trading hours on Friday, hitting $106.77. 33,747,831 shares of the company’s stock traded hands, compared to its average volume of 20,635,740. The firm has a market cap of $118.23 billion, a P/E ratio of -30.95 and a beta of 1.27. Micron Technology, Inc. has a 52 week low of $58.03 and a 52 week high of $130.54. The business’s fifty day simple moving average is $102.53 and its two-hundred day simple moving average is $86.40. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.69. The company had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.35 billion. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The firm’s quarterly revenue was up 57.7% on a year-over-year basis. During the same quarter last year, the company earned ($2.03) earnings per share. On average, research analysts anticipate that Micron Technology, Inc. will post 0.24 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.43%. The ex-dividend date was Thursday, March 28th. Micron Technology’s dividend payout ratio (DPR) is currently -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.