Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Highland Capital Management LLC

Highland Capital Management LLC lessened its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 2.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 192,988 shares of the semiconductor manufacturer's stock after selling 4,415 shares during the quarter. Micron Technology comprises approximately 0.9% of Highland Capital Management LLC's investment portfolio, making the stock its 20th largest holding. Highland Capital Management LLC's holdings in Micron Technology were worth $16,242,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Ascent Group LLC raised its position in Micron Technology by 4.2% during the second quarter. Ascent Group LLC now owns 3,306 shares of the semiconductor manufacturer's stock valued at $435,000 after acquiring an additional 133 shares in the last quarter. Quarry LP increased its holdings in shares of Micron Technology by 130.5% during the 2nd quarter. Quarry LP now owns 604 shares of the semiconductor manufacturer's stock valued at $79,000 after purchasing an additional 342 shares in the last quarter. EP Wealth Advisors LLC lifted its stake in shares of Micron Technology by 43.1% in the 2nd quarter. EP Wealth Advisors LLC now owns 16,686 shares of the semiconductor manufacturer's stock valued at $2,195,000 after purchasing an additional 5,024 shares during the period. Truist Financial Corp boosted its holdings in Micron Technology by 16.4% during the second quarter. Truist Financial Corp now owns 143,215 shares of the semiconductor manufacturer's stock worth $18,837,000 after buying an additional 20,209 shares in the last quarter. Finally, Cetera Investment Advisers grew its position in Micron Technology by 30.8% during the second quarter. Cetera Investment Advisers now owns 253,256 shares of the semiconductor manufacturer's stock valued at $33,311,000 after buying an additional 59,707 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MU. Cantor Fitzgerald decreased their price objective on shares of Micron Technology from $150.00 to $130.00 and set an "overweight" rating for the company in a research report on Thursday, December 19th. Robert W. Baird lowered their price target on Micron Technology from $150.00 to $130.00 and set an "outperform" rating on the stock in a research report on Thursday, December 19th. JPMorgan Chase & Co. cut their price objective on Micron Technology from $180.00 to $145.00 and set an "overweight" rating for the company in a research report on Thursday, December 19th. TD Cowen decreased their target price on Micron Technology from $135.00 to $125.00 and set a "buy" rating on the stock in a research report on Thursday, December 19th. Finally, Barclays cut their price target on shares of Micron Technology from $145.00 to $110.00 and set an "overweight" rating for the company in a report on Friday, December 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have assigned a buy rating to the company's stock. Based on data from MarketBeat, Micron Technology presently has a consensus rating of "Moderate Buy" and an average target price of $134.96.

Micron Technology Trading Up 3.4 %

NASDAQ:MU traded up $3.04 on Thursday, hitting $92.05. The stock had a trading volume of 16,097,699 shares, compared to its average volume of 26,471,492. The company has a fifty day moving average price of $97.85 and a two-hundred day moving average price of $100.40. Micron Technology, Inc. has a 1-year low of $79.15 and a 1-year high of $157.54. 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 stock has a market cap of $102.56 billion, a price-to-earnings ratio of 26.75 and a beta of 1.18.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.71 billion. During the same period in the prior year, the business posted ($0.95) earnings per share. The firm's revenue for the quarter was up 84.3% compared to the same quarter last year. Equities research analysts expect that Micron Technology, Inc. will post 6.29 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were given a dividend of $0.115 per share. The ex-dividend date was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.50%. Micron Technology's payout ratio is currently 13.26%.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the sale, the executive vice president now directly owns 181,223 shares in the company, valued at $15,442,011.83. This represents a 2.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.30% of the stock is owned by insiders.

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.