Kentucky Retirement Systems Insurance Trust Fund increased its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 13.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,249 shares of the semiconductor manufacturer's stock after buying an additional 4,419 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund's holdings in Micron Technology were worth $3,135,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the stock. Stonebrook Private Inc. lifted its position in Micron Technology by 4.2% in the 3rd quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer's stock valued at $255,000 after acquiring an additional 98 shares in the last quarter. John G Ullman & Associates Inc. lifted its position in Micron Technology by 2.5% in the 3rd quarter. John G Ullman & Associates Inc. now owns 4,063 shares of the semiconductor manufacturer's stock valued at $421,000 after acquiring an additional 100 shares in the last quarter. Trivant Custom Portfolio Group LLC lifted its position in Micron Technology by 20.0% in the 4th quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer's stock valued at $50,000 after acquiring an additional 100 shares in the last quarter. PDS Planning Inc lifted its position in shares of Micron Technology by 2.4% during the 3rd quarter. PDS Planning Inc now owns 4,382 shares of the semiconductor manufacturer's stock worth $454,000 after buying an additional 104 shares in the last quarter. Finally, Lebenthal Global Advisors LLC lifted its position in shares of Micron Technology by 1.5% during the 4th quarter. Lebenthal Global Advisors LLC now owns 7,474 shares of the semiconductor manufacturer's stock worth $629,000 after buying an additional 114 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.
Micron Technology Stock Performance
Shares of NASDAQ MU traded down $4.40 during mid-day trading on Friday, hitting $98.78. The company had a trading volume of 18,633,227 shares, compared to its average volume of 22,918,740. The company has a market capitalization of $110.06 billion, a price-to-earnings ratio of 28.47 and a beta of 1.18. 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's 50-day moving average price is $96.28 and its 200-day moving average price is $98.76.
Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.19. The company had revenue of $8.71 billion during the quarter, compared to analysts' expectations of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm's quarterly revenue was up 84.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.95) earnings per share. On average, sell-side analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current year.
Micron Technology Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology's dividend payout ratio is 13.26%.
Insider Activity at Micron Technology
In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction on Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the completion of the sale, the executive vice president now owns 181,223 shares of the company's stock, valued at approximately $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.30% of the stock is owned by corporate insiders.
Analyst Ratings Changes
Several equities analysts have commented on the stock. Cantor Fitzgerald dropped their target price on shares of Micron Technology from $150.00 to $130.00 and set an "overweight" rating on the stock in a research report on Thursday, December 19th. Wells Fargo & Company dropped their target price on shares of Micron Technology from $175.00 to $140.00 and set an "overweight" rating on the stock in a research report on Thursday, December 19th. Mizuho dropped their target price on shares of Micron Technology from $135.00 to $115.00 and set an "outperform" rating on the stock in a research report on Thursday, December 19th. Morgan Stanley dropped their target price on shares of Micron Technology from $98.00 to $91.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 28th. Finally, UBS Group dropped their target price 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 given a hold rating and twenty-three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $134.96.
Check Out Our Latest Stock Analysis on MU
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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