Gilliland Jeter Wealth Management LLC Takes $555,000 Position in Micron Technology, Inc. (NASDAQ:MU)

Gilliland Jeter Wealth Management LLC bought a new stake in shares of Micron Technology, Inc. (NASDAQ:MU) in the 4th quarter, HoldingsChannel.com reports. The fund bought 6,505 shares of the semiconductor manufacturer’s stock, valued at approximately $555,000.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Micron Technology by 0.3% during the 3rd 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 in the last quarter. FMR LLC increased its holdings in shares of Micron Technology by 47.9% during the 3rd quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer’s stock valued at $1,489,801,000 after purchasing an additional 7,089,790 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Micron Technology by 43.4% during the 3rd quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock valued at $1,182,608,000 after purchasing an additional 5,257,201 shares in the last quarter. Morgan Stanley increased its holdings in shares of Micron Technology by 19.7% during the 3rd quarter. Morgan Stanley now owns 17,303,400 shares of the semiconductor manufacturer’s stock valued at $1,177,151,000 after purchasing an additional 2,852,688 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Micron Technology by 0.7% in the 3rd quarter. Northern Trust Corp now owns 10,833,670 shares of the semiconductor manufacturer’s stock valued at $737,015,000 after acquiring an additional 80,345 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Price Performance

MU traded up $3.26 on Friday, hitting $114.84. The company had a trading volume of 20,612,299 shares, compared to its average volume of 24,401,036. Micron Technology, Inc. has a 1 year low of $59.55 and a 1 year high of $130.54. The company’s fifty day moving average price is $105.94 and its 200 day moving average price is $88.17. 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 issued 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 firm had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. Micron Technology’s revenue was up 57.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($2.03) EPS. As a group, equities analysts expect that Micron Technology, Inc. will post 0.24 earnings per share for the current fiscal 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 issued a $0.115 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.46 annualized dividend and a yield of 0.40%. Micron Technology’s dividend payout ratio (DPR) is currently -13.33%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. TD Cowen lifted their price target on shares of Micron Technology from $120.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, March 21st. StockNews.com raised shares of Micron Technology from a “sell” rating to a “hold” rating in a research note on Friday, March 22nd. UBS Group lifted their price target on shares of Micron Technology from $95.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. Argus raised shares of Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a research note on Thursday, March 21st. Finally, Needham & Company LLC lifted their price target on shares of Micron Technology from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $122.20.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total transaction of $583,377.00. Following the sale, the executive vice president now directly owns 148,817 shares in the company, valued at $17,753,868.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $111.93, for a total transaction of $783,510.00. Following the completion of the transaction, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at $80,483,154.57. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 transaction, the executive vice president now directly owns 148,817 shares of the company’s stock, valued at $17,753,868.10. The disclosure for this sale can be found here. Insiders have sold 268,890 shares of company stock worth $29,738,667 over the last three months. Company insiders own 0.32% of the company’s stock.

Micron Technology Company 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.