ING Groep NV Sells 118,602 Shares of Micron Technology, Inc. (NASDAQ:MU)

ING Groep NV lowered its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 11.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 908,207 shares of the semiconductor manufacturer's stock after selling 118,602 shares during the quarter. ING Groep NV owned about 0.08% of Micron Technology worth $76,435,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Highline Wealth Partners LLC acquired a new position in shares of Micron Technology during the 3rd quarter valued at $26,000. Stone House Investment Management LLC raised its holdings in shares of Micron Technology by 602.2% during the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer's stock valued at $34,000 after purchasing an additional 277 shares during the period. True Wealth Design LLC boosted its position in shares of Micron Technology by 1,096.3% during the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer's stock worth $33,000 after purchasing an additional 296 shares in the last quarter. DT Investment Partners LLC grew its stake in shares of Micron Technology by 261.1% in the 3rd quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer's stock valued at $34,000 after buying an additional 235 shares during the period. Finally, Beacon Capital Management LLC increased its position in Micron Technology by 114.9% in the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock valued at $31,000 after buying an additional 200 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on MU. Wedbush reiterated an "outperform" rating and issued a $140.00 price target on shares of Micron Technology in a report on Tuesday, December 17th. China Renaissance started coverage on Micron Technology in a report on Monday, October 28th. They issued a "buy" rating and a $148.00 target price on the stock. TD Cowen reduced their price target 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. Rosenblatt Securities restated a "buy" rating and set a $250.00 price objective on shares of Micron Technology in a report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Micron Technology from $180.00 to $145.00 and set an "overweight" rating for the company in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $134.96.

Micron Technology Stock Performance

MU stock traded down $4.40 during mid-day trading on Friday, hitting $98.78. The company had a trading volume of 17,289,668 shares, compared to its average volume of 22,738,123. The firm has a market cap of $110.06 billion, a PE ratio of 28.47 and a beta of 1.18. The stock's fifty day moving average price is $96.35 and its two-hundred day moving average price is $98.70. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. Micron Technology, Inc. has a 12 month low of $83.54 and a 12 month high of $157.54.

Micron Technology (NASDAQ:MU - Get Free Report) last announced 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 quarter last year, the firm posted ($0.95) EPS. The firm's revenue for the quarter was up 84.3% on a year-over-year basis. On average, analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were given a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology's dividend payout ratio (DPR) is presently 13.26%.

Insider Activity at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the company's stock in a transaction on Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the transaction, the executive vice president now owns 181,223 shares of the company's stock, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.30% of the stock is currently owned by corporate 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.