Ballentine Partners LLC Lowers Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Ballentine Partners LLC trimmed its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 4.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 123,448 shares of the semiconductor manufacturer's stock after selling 6,220 shares during the period. Ballentine Partners LLC's holdings in Micron Technology were worth $10,389,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. ZWJ Investment Counsel Inc. increased its holdings in shares of Micron Technology by 0.6% in the 4th quarter. ZWJ Investment Counsel Inc. now owns 419,134 shares of the semiconductor manufacturer's stock worth $35,274,000 after purchasing an additional 2,594 shares in the last quarter. Gemmer Asset Management LLC boosted its holdings in Micron Technology by 31.8% in the fourth quarter. Gemmer Asset Management LLC now owns 30,718 shares of the semiconductor manufacturer's stock worth $2,585,000 after purchasing an additional 7,412 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its position in Micron Technology by 22.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 3,810 shares of the semiconductor manufacturer's stock worth $321,000 after purchasing an additional 701 shares during the period. AMI Investment Management Inc. raised its stake in Micron Technology by 0.8% during the 4th quarter. AMI Investment Management Inc. now owns 23,941 shares of the semiconductor manufacturer's stock valued at $2,015,000 after buying an additional 201 shares during the last quarter. Finally, UMB Bank n.a. lifted its holdings in shares of Micron Technology by 21.1% during the 4th quarter. UMB Bank n.a. now owns 6,817 shares of the semiconductor manufacturer's stock valued at $574,000 after buying an additional 1,188 shares during the period. 80.84% of the stock is owned by institutional investors.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business's stock in a transaction that occurred 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 transaction, the executive vice president now owns 181,223 shares in the company, valued at $15,442,011.83. The trade was a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.30% of the stock is currently owned by insiders.

Micron Technology Price Performance

Shares of MU stock traded up $3.63 on Tuesday, reaching $109.38. The company's stock had a trading volume of 23,399,417 shares, compared to its average volume of 26,186,410. The stock's fifty day simple moving average is $97.82 and its 200-day simple moving average is $101.80. Micron Technology, Inc. has a 1 year low of $79.15 and a 1 year high of $157.54. The company has a market capitalization of $121.87 billion, a price-to-earnings ratio of 31.52 and a beta of 1.18. 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 (NASDAQ:MU - Get Free Report) last announced its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating analysts' consensus estimates of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. During the same quarter last year, the firm earned ($0.95) EPS. The firm's revenue for the quarter was up 84.3% compared to the same quarter last year. Analysts forecast that Micron Technology, Inc. will post 6.25 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. Investors of record on Monday, December 30th were issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 annualized dividend and a yield of 0.42%. Micron Technology's payout ratio is presently 13.26%.

Analyst Upgrades and Downgrades

MU has been the subject of a number of research reports. China Renaissance initiated coverage on Micron Technology in a research report on Monday, October 28th. They set a "buy" rating and a $148.00 price objective for the company. Robert W. Baird reduced their price target on shares of Micron Technology from $150.00 to $130.00 and set an "outperform" rating for the company in a research report on Thursday, December 19th. KeyCorp dropped their price objective on shares of Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a report on Tuesday, October 8th. Cantor Fitzgerald reduced their target price on shares of Micron Technology from $150.00 to $130.00 and set an "overweight" rating for the company in a report on Thursday, December 19th. Finally, Barclays reduced their price target on Micron Technology from $145.00 to $110.00 and set an "overweight" rating for the company in a research report on Friday, December 20th. One investment 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, Micron Technology presently has an average rating of "Moderate Buy" and an average price target of $135.24.

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.