Micron Technology, Inc. (NASDAQ:MU) Shares Sold by FIL Ltd

FIL Ltd cut its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 85.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 258,679 shares of the semiconductor manufacturer's stock after selling 1,554,989 shares during the period. FIL Ltd's holdings in Micron Technology were worth $21,770,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of MU. Norges Bank acquired a new position in shares of Micron Technology in the fourth quarter valued at about $1,470,875,000. FMR LLC raised its position in Micron Technology by 34.6% during the 4th quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer's stock worth $4,012,114,000 after buying an additional 12,249,341 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in Micron Technology by 339.6% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 2,255,000 shares of the semiconductor manufacturer's stock valued at $189,781,000 after acquiring an additional 1,742,073 shares during the period. Raymond James Financial Inc. purchased a new stake in Micron Technology in the fourth quarter valued at $135,865,000. Finally, Vanguard Group Inc. grew its position in Micron Technology by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer's stock worth $8,403,982,000 after purchasing an additional 888,087 shares during the period. Institutional investors own 80.84% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MU. Rosenblatt Securities cut their target price on shares of Micron Technology from $250.00 to $200.00 and set a "buy" rating for the company in a report on Friday, March 21st. Wedbush restated an "outperform" rating and issued a $125.00 target price on shares of Micron Technology in a research report on Monday, March 17th. China Renaissance cut shares of Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price objective for the company. in a research note on Wednesday, March 26th. Needham & Company LLC lowered their price target on shares of Micron Technology from $140.00 to $120.00 and set a "buy" rating on the stock in a research report on Thursday, December 19th. Finally, TD Cowen reduced their price target on shares of Micron Technology from $135.00 to $125.00 and set a "buy" rating on the stock in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $129.36.

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Insider Activity at Micron Technology

In other news, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction dated 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 sale, the executive vice president now owns 164,769 shares of the company's stock, valued at $15,847,482.42. The trade was a 8.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction dated 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 sale, the director now owns 27,358 shares of the company's stock, valued at approximately $2,542,378.94. The trade was a 8.08 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

Micron Technology Stock Up 1.4 %

MU stock traded up $1.01 during trading on Tuesday, hitting $72.03. 7,437,665 shares of the company's stock were exchanged, compared to its average volume of 23,215,081. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $157.54. The business has a 50-day moving average price of $90.21 and a two-hundred day moving average price of $96.75. The stock has a market capitalization of $80.49 billion, a price-to-earnings ratio of 20.76 and a beta of 1.18.

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, topping the consensus estimate of $1.43 by $0.13. The firm had revenue of $8.05 billion for the quarter, compared to analyst estimates 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 for the quarter was up 38.2% compared to the same quarter last year. During the same period last year, the business earned $0.42 EPS. As a group, equities research analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.64%. Micron Technology's dividend payout ratio (DPR) is presently 11.03%.

Micron Technology Company 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.