Franklin Resources Inc. decreased its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 33.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,827,835 shares of the semiconductor manufacturer's stock after selling 2,455,289 shares during the period. Franklin Resources Inc. owned approximately 0.43% of Micron Technology worth $406,311,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Harmony Asset Management LLC grew its position in shares of Micron Technology by 75.6% during the 3rd quarter. Harmony Asset Management LLC now owns 11,889 shares of the semiconductor manufacturer's stock worth $1,233,000 after buying an additional 5,120 shares during the period. E Fund Management Co. Ltd. increased its stake in Micron Technology by 31.8% in the fourth quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer's stock valued at $3,062,000 after purchasing an additional 8,780 shares in the last quarter. Stablepoint Partners LLC bought a new stake in Micron Technology in the fourth quarter valued at $569,000. State Street Corp raised its holdings in shares of Micron Technology by 3.1% during the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer's stock valued at $5,001,592,000 after purchasing an additional 1,434,568 shares during the period. Finally, Main Management ETF Advisors LLC bought a new position in shares of Micron Technology during the 3rd quarter worth about $2,414,000. Institutional investors own 80.84% of the company's stock.
Micron Technology Stock Performance
Micron Technology stock traded down $13.75 during midday trading on Thursday, reaching $74.85. The stock had a trading volume of 32,733,018 shares, compared to its average volume of 22,759,172. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $83.65 billion, a PE ratio of 21.60 and a beta of 1.23. Micron Technology, Inc. has a 12 month low of $74.68 and a 12 month high of $157.54. The firm's 50-day moving average price is $94.80 and its 200 day moving average price is $98.42.
Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly 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 company had revenue of $8.05 billion for 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%. Micron Technology's revenue was up 38.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.42 EPS. As a group, research analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.
Micron Technology Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.115 per share. The ex-dividend date is Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.61%. Micron Technology's payout ratio is 11.03%.
Analyst Ratings Changes
MU has been the topic of a number of recent research reports. Mizuho dropped their price objective on shares of Micron Technology from $135.00 to $115.00 and set an "outperform" rating on the stock in a research note on Thursday, December 19th. The Goldman Sachs Group dropped their price target on shares of Micron Technology from $145.00 to $128.00 and set a "buy" rating on the stock in a research report on Thursday, December 19th. Wedbush reissued an "outperform" rating and set a $125.00 price objective on shares of Micron Technology in a report on Monday, March 17th. Citigroup dropped their target price on Micron Technology from $150.00 to $120.00 and set a "buy" rating on the stock in a report on Friday, March 21st. Finally, TD Cowen decreased their price target on Micron Technology from $135.00 to $125.00 and set a "buy" rating for the company in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $129.76.
View Our Latest Research Report on Micron Technology
Insider Buying and Selling
In other news, Director Mary Pat Mccarthy sold 2,404 shares of the business's 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 completion of the transaction, the director now directly owns 27,358 shares in the company, valued at $2,542,378.94. The trade was a 8.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP April S. Arnzen sold 15,000 shares of the company'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 transaction, the executive vice president now directly owns 164,769 shares in the company, valued at approximately $15,847,482.42. The trade was a 8.34 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.
Micron Technology Profile
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Free Report)
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.
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