Micron Technology, Inc. (NASDAQ:MU) is Altshuler Shaham Ltd's 8th Largest Position

Altshuler Shaham Ltd grew its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 0.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,872,328 shares of the semiconductor manufacturer's stock after purchasing an additional 4,115 shares during the period. Micron Technology comprises approximately 5.3% of Altshuler Shaham Ltd's portfolio, making the stock its 8th biggest position. Altshuler Shaham Ltd owned about 0.17% of Micron Technology worth $157,575,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Beacon Capital Management LLC boosted its holdings in Micron Technology by 114.9% during the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock worth $31,000 after purchasing an additional 200 shares during the last quarter. Midwest Capital Advisors LLC bought a new position in shares of Micron Technology during the 4th quarter worth approximately $33,000. Comprehensive Financial Planning Inc. PA purchased a new position in shares of Micron Technology in the 4th quarter worth approximately $34,000. Curio Wealth LLC bought a new position in shares of Micron Technology in the fourth quarter valued at approximately $34,000. Finally, Activest Wealth Management increased its position in shares of Micron Technology by 583.3% during the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer's stock valued at $34,000 after acquiring an additional 350 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the transaction, the director now owns 27,358 shares of the company's stock, valued at approximately $2,542,378.94. This trade represents a 8.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP April S. Arnzen sold 15,000 shares of the business's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the completion of the sale, the executive vice president now directly owns 164,769 shares of the company's stock, valued at $15,847,482.42. This represents a 8.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company's stock.

Micron Technology Price Performance

Shares of MU traded down $0.53 during mid-day trading on Friday, reaching $68.80. 20,670,930 shares of the stock traded hands, compared to its average volume of 23,271,762. The company has a market cap of $76.89 billion, a price-to-earnings ratio of 19.83 and a beta of 1.18. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $157.54. The firm has a fifty day moving average price of $88.23 and a 200 day moving average price of $95.92. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping analysts' consensus estimates of $1.43 by $0.13. The business had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company's quarterly revenue was up 38.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.42 EPS. As a group, equities research analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.115 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a yield of 0.67%. Micron Technology's dividend payout ratio is presently 11.03%.

Analyst Ratings Changes

Several research firms have weighed in on MU. JPMorgan Chase & Co. cut their price objective on Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a research report on Friday, March 21st. Bank of America downgraded shares of Micron Technology from a "buy" rating to a "neutral" rating and cut their price target for the stock from $125.00 to $110.00 in a report on Thursday, December 19th. 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 research report on Thursday, December 19th. Morgan Stanley lifted their price objective on shares of Micron Technology from $91.00 to $112.00 and gave the stock an "equal weight" rating in a research report on Friday, March 21st. Finally, Mizuho reduced their target price on shares of Micron Technology from $135.00 to $115.00 and set an "outperform" rating for the company in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $129.36.

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.