Alerus Financial NA Sells 3,390 Shares of Micron Technology, Inc. (NASDAQ:MU)

Alerus Financial NA decreased its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 6.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 47,353 shares of the semiconductor manufacturer's stock after selling 3,390 shares during the period. Alerus Financial NA's holdings in Micron Technology were worth $3,985,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Algert Global LLC raised its holdings in shares of Micron Technology by 349.4% in the third quarter. Algert Global LLC now owns 11,092 shares of the semiconductor manufacturer's stock worth $1,150,000 after acquiring an additional 8,624 shares during the last quarter. Larson Financial Group LLC raised its holdings in Micron Technology by 885.5% in the 3rd quarter. Larson Financial Group LLC now owns 1,360 shares of the semiconductor manufacturer's stock valued at $141,000 after acquiring an additional 1,222 shares during the last quarter. Fisher Asset Management LLC lifted its stake in shares of Micron Technology by 6.5% during the 3rd quarter. Fisher Asset Management LLC now owns 50,470 shares of the semiconductor manufacturer's stock worth $5,234,000 after purchasing an additional 3,069 shares during the period. D.A. Davidson & CO. grew its position in shares of Micron Technology by 17.2% in the third quarter. D.A. Davidson & CO. now owns 68,844 shares of the semiconductor manufacturer's stock valued at $7,140,000 after purchasing an additional 10,080 shares during the period. Finally, Townsquare Capital LLC grew its holdings in Micron Technology by 38.1% in the 3rd quarter. Townsquare Capital LLC now owns 20,811 shares of the semiconductor manufacturer's stock valued at $2,158,000 after buying an additional 5,737 shares during the period. Hedge funds and other institutional investors own 80.84% of the company's stock.

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Analyst Ratings Changes

A number of research firms recently issued reports on MU. JPMorgan Chase & Co. dropped their price target on shares of Micron Technology from $145.00 to $135.00 and set an "overweight" rating for the company in a research report on Friday, March 21st. Rosenblatt Securities cut their target price on Micron Technology from $250.00 to $200.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Bank of America downgraded Micron Technology from a "buy" rating to a "neutral" rating and lowered their price target for the company from $125.00 to $110.00 in a research report on Thursday, December 19th. Citigroup cut their price objective on Micron Technology from $150.00 to $120.00 and set a "buy" rating on the stock in a report on Friday, March 21st. Finally, China Renaissance cut Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 target price for the company. in a report on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Micron Technology presently has an average rating of "Moderate Buy" and a consensus target price of $129.76.

Micron Technology Trading Down 3.3 %

MU traded down $2.89 during trading on Monday, reaching $85.45. The company had a trading volume of 10,667,242 shares, compared to its average volume of 22,826,761. The firm's 50-day simple moving average is $96.00 and its 200 day simple moving average is $98.51. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The company has a market cap of $95.49 billion, a price-to-earnings ratio of 24.67 and a beta of 1.23. 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 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. The business had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm's quarterly revenue was up 38.2% compared to the same quarter last year. During the same period last year, the firm posted $0.42 earnings per share. Equities research analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently announced 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. This represents a $0.46 annualized dividend and a yield of 0.54%. The ex-dividend date is Monday, March 31st. Micron Technology's dividend payout ratio (DPR) is currently 11.03%.

Insider Activity

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 transaction, the director now directly owns 27,358 shares of the company's stock, valued at approximately $2,542,378.94. This represents a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP April S. Arnzen sold 15,000 shares of the business's 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 completion of the transaction, the executive vice president now owns 164,769 shares in the company, valued at $15,847,482.42. This trade represents a 8.34 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company's stock.

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.