Capital Group Private Client Services Inc. Sells 4,671 Shares of Micron Technology, Inc. (NASDAQ:MU)

Capital Group Private Client Services Inc. lessened its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 166,159 shares of the semiconductor manufacturer's stock after selling 4,671 shares during the quarter. Capital Group Private Client Services Inc.'s holdings in Micron Technology were worth $13,984,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of MU. Beacon Capital Management LLC raised its position in shares of 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 acquiring an additional 200 shares during the last quarter. Midwest Capital Advisors LLC acquired a new position in shares of Micron Technology in the 4th quarter valued at about $33,000. Activest Wealth Management lifted its stake in Micron Technology by 583.3% in the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer's stock valued at $34,000 after buying an additional 350 shares during the period. Comprehensive Financial Planning Inc. PA bought a new position in shares of Micron Technology during the 4th quarter worth approximately $34,000. Finally, Curio Wealth LLC acquired a new stake in shares of Micron Technology during the 4th quarter worth approximately $34,000. 80.84% of the stock is currently owned by 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 Stock Performance

Shares of Micron Technology stock traded up $2.85 during trading hours on Wednesday, reaching $73.06. The company had a trading volume of 15,773,439 shares, compared to its average volume of 23,190,670. The firm has a market cap of $81.65 billion, a PE ratio of 21.05 and a beta of 1.18. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $157.54. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The business has a fifty day simple moving average of $87.22 and a 200 day simple moving average of $95.43.

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

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders 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 0.63%. Micron Technology's dividend payout ratio is currently 11.03%.

Wall Street Analyst Weigh In

MU has been the topic of several research analyst reports. Wedbush reissued an "outperform" rating and set a $125.00 target price on shares of Micron Technology in a research note on Monday, March 17th. Citigroup reduced their price objective on Micron Technology from $120.00 to $110.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Wells Fargo & Company decreased their price target on shares of Micron Technology from $140.00 to $130.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Cantor Fitzgerald reiterated an "overweight" rating and set a $130.00 price objective on shares of Micron Technology in a report on Friday, March 21st. Finally, UBS Group raised their price target on shares of Micron Technology from $125.00 to $130.00 and gave the company a "buy" rating in a research report on Monday, March 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Micron Technology presently has a consensus rating of "Moderate Buy" and an average target price of $128.56.

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.