American Century Companies Inc. Has $18.15 Million Position in Micron Technology, Inc. (NASDAQ:MU)

American Century Companies Inc. lowered its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 81.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 215,654 shares of the semiconductor manufacturer's stock after selling 927,740 shares during the period. American Century Companies Inc.'s holdings in Micron Technology were worth $18,150,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. True Wealth Design LLC raised its stake in Micron Technology by 1,096.3% during the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer's stock valued at $33,000 after acquiring an additional 296 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in Micron Technology in the third quarter worth about $12,638,000. Kestra Investment Management LLC bought a new position in Micron Technology in the 3rd quarter valued at about $338,000. Benjamin Edwards Inc. acquired a new position in Micron Technology during the 3rd quarter valued at about $600,000. Finally, Cinctive Capital Management LP bought a new stake in shares of Micron Technology during the 3rd quarter worth about $1,544,000. Institutional investors and hedge funds own 80.84% of the company's stock.

Micron Technology Stock Up 2.1 %

Shares of NASDAQ MU traded up $1.82 during mid-day trading on Tuesday, reaching $88.71. The company had a trading volume of 15,302,155 shares, compared to its average volume of 22,750,771. The stock has a market capitalization of $99.14 billion, a PE ratio of 25.56 and a beta of 1.23. Micron Technology, Inc. has a twelve month low of $83.54 and a twelve month high of $157.54. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The stock's 50 day moving average is $95.62 and its 200-day moving average is $98.51.

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Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly 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 company had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business's quarterly revenue was up 38.2% on a year-over-year basis. During the same period last year, the business earned $0.42 EPS. As a group, equities analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend is Monday, March 31st. Micron Technology's payout ratio is 11.03%.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value 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 approximately $15,847,482.42. This represents a 8.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction 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 owns 27,358 shares in the company, valued at approximately $2,542,378.94. The trade was a 8.08 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MU. Wells Fargo & Company lowered their price target on Micron Technology from $140.00 to $130.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Bank of America cut shares of Micron Technology from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $125.00 to $110.00 in a research report on Thursday, December 19th. TD Cowen reduced their price objective on shares of Micron Technology from $135.00 to $125.00 and set a "buy" rating for the company in a research report on Thursday, December 19th. Citigroup dropped their target price on shares of Micron Technology from $150.00 to $120.00 and set a "buy" rating on the stock in a report on Friday, March 21st. Finally, UBS Group raised their target price on shares of Micron Technology from $125.00 to $130.00 and gave the stock a "buy" rating in a report on Monday, March 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Micron Technology presently has a consensus rating of "Moderate Buy" and a consensus target price of $129.76.

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.