Meeder Asset Management Inc. Lowers Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Meeder Asset Management Inc. lowered its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 33.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,142 shares of the semiconductor manufacturer's stock after selling 18,541 shares during the quarter. Meeder Asset Management Inc.'s holdings in Micron Technology were worth $3,042,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in MU. Trivant Custom Portfolio Group LLC boosted its stake in Micron Technology by 20.0% during the fourth quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer's stock worth $50,000 after buying an additional 100 shares during the period. Xcel Wealth Management LLC lifted its holdings in shares of Micron Technology by 1.8% in the 4th quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer's stock worth $518,000 after acquiring an additional 108 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its stake in shares of Micron Technology by 3.8% during the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer's stock worth $250,000 after purchasing an additional 108 shares during the period. Lebenthal Global Advisors LLC grew its holdings in Micron Technology by 1.5% during the 4th quarter. Lebenthal Global Advisors LLC now owns 7,474 shares of the semiconductor manufacturer's stock valued at $629,000 after purchasing an additional 114 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. raised its position in Micron Technology by 1.1% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 10,481 shares of the semiconductor manufacturer's stock worth $883,000 after purchasing an additional 119 shares during the period. Institutional investors own 80.84% of the company's stock.

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Insider Buying and Selling at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the company's stock in a transaction on Monday, March 3rd. The shares were 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 of the company's stock, valued at $2,542,378.94. This represents a 8.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of the firm'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 transaction, the executive vice president now directly owns 164,769 shares of the company's stock, valued at approximately $15,847,482.42. This trade represents a 8.34 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MU. Wells Fargo & Company cut their target price on Micron Technology from $140.00 to $130.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $130.00 target price on shares of Micron Technology in a research note on Friday, March 21st. Rosenblatt Securities lowered their target price on shares of Micron Technology from $250.00 to $200.00 and set a "buy" rating for the company in a research note on Friday, March 21st. Robert W. Baird raised their price target on shares of Micron Technology from $130.00 to $163.00 and gave the stock an "outperform" rating in a research note on Friday, March 21st. Finally, KGI Securities raised shares of Micron Technology to a "strong-buy" rating in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $129.76.

Micron Technology Stock Up 2.1 %

Shares of MU stock traded up $1.82 during trading hours on Tuesday, reaching $88.71. 15,302,155 shares of the company's stock were exchanged, compared to its average volume of 22,836,307. Micron Technology, Inc. has a 1 year low of $83.54 and a 1 year 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 stock has a market cap of $99.14 billion, a PE ratio of 25.56 and a beta of 1.23. The stock's fifty day moving average price is $95.62 and its two-hundred day moving average price is $98.51.

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

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 annualized dividend and a yield of 0.52%. Micron Technology's payout ratio is presently 11.03%.

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.