Fiduciary Management Inc. WI Reduces Position in Micron Technology, Inc. (NASDAQ:MU)

Fiduciary Management Inc. WI trimmed its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 4.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,437,244 shares of the semiconductor manufacturer's stock after selling 72,786 shares during the period. Fiduciary Management Inc. WI owned about 0.13% of Micron Technology worth $120,958,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. Beacon Capital Management LLC lifted 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 buying an additional 200 shares during the period. Midwest Capital Advisors LLC bought a new stake in Micron Technology during the fourth quarter valued at about $33,000. Activest Wealth Management grew 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 purchasing an additional 350 shares during the last quarter. Comprehensive Financial Planning Inc. PA bought a new position in Micron Technology in the fourth quarter worth about $34,000. Finally, Curio Wealth LLC purchased a new stake in shares of Micron Technology during the fourth quarter valued at about $34,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Price Performance

MU traded up $3.35 during midday trading on Wednesday, hitting $73.56. 16,492,080 shares of the company traded hands, compared to its average volume of 23,194,525. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $157.54. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The business has a 50 day simple moving average of $87.22 and a two-hundred day simple moving average of $95.43. The company has a market capitalization of $82.21 billion, a price-to-earnings ratio of 21.20 and a beta of 1.18.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.13. The business had revenue of $8.05 billion during the quarter, compared to analysts' expectations of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. 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 business earned $0.42 earnings per share. On average, equities analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology's payout ratio is currently 11.03%.

Wall Street Analyst Weigh In

Several research analysts recently commented on MU shares. Wedbush reiterated an "outperform" rating and set a $125.00 price objective on shares of Micron Technology in a research note on Monday, March 17th. UBS Group boosted their target price on Micron Technology from $125.00 to $130.00 and gave the stock a "buy" rating in a research note on Monday, March 17th. Royal Bank of Canada set a $125.00 price target on Micron Technology in a research note on Wednesday, March 19th. JPMorgan Chase & Co. lowered their target price on shares of Micron Technology from $145.00 to $135.00 and set an "overweight" rating for the company in a research note on Friday, March 21st. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $130.00 price target on shares of Micron Technology in a report on Friday, March 21st. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Micron Technology presently has a consensus rating of "Moderate Buy" and an average price target of $128.56.

Insider Activity

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

About Micron Technology

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.