Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Cinctive Capital Management LP

Cinctive Capital Management LP cut its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 38.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,200 shares of the semiconductor manufacturer's stock after selling 5,691 shares during the period. Cinctive Capital Management LP's holdings in Micron Technology were worth $774,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Beacon Capital Management LLC lifted its holdings in Micron Technology by 114.9% in the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock worth $31,000 after purchasing an additional 200 shares in the last quarter. Midwest Capital Advisors LLC purchased a new position in shares of Micron Technology in the fourth quarter worth $33,000. Comprehensive Financial Planning Inc. PA bought a new position in shares of Micron Technology during the fourth quarter worth $34,000. Curio Wealth LLC purchased a new position in Micron Technology during the fourth quarter valued at $34,000. Finally, Activest Wealth Management increased its holdings in Micron Technology by 583.3% in the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer's stock valued at $34,000 after acquiring an additional 350 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MU has been the topic of a number of research analyst reports. Rosenblatt Securities decreased 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. Citigroup lowered their target price on Micron Technology from $150.00 to $120.00 and set a "buy" rating for the company in a research report on Friday, March 21st. Morgan Stanley boosted their price target on shares of Micron Technology from $91.00 to $112.00 and gave the stock an "equal weight" rating in a research report on Friday, March 21st. TD Cowen decreased 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 note on Thursday, December 19th. Finally, Robert W. Baird lifted their price objective 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. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Micron Technology has an average rating of "Moderate Buy" and a consensus price target of $129.76.

Remove Ads

Insider Buying and Selling at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the company's stock in a transaction on Monday, March 3rd. The stock was 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 directly owns 27,358 shares in the company, valued at $2,542,378.94. This represents a 8.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, 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 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. Insiders own 0.30% of the company's stock.

Micron Technology Trading Down 12.9 %

Shares of NASDAQ:MU traded down $9.62 during trading on Friday, reaching $64.72. 50,571,490 shares of the company were exchanged, compared to its average volume of 22,786,361. The business's fifty day simple moving average is $93.42 and its 200-day simple moving average is $98.10. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. Micron Technology, Inc. has a 12-month low of $63.86 and a 12-month high of $157.54. The firm has a market capitalization of $72.33 billion, a PE ratio of 18.65 and a beta of 1.23.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping the consensus estimate of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $7.93 billion. During the same period last year, the business posted $0.42 EPS. Micron Technology's quarterly revenue was up 38.2% on a year-over-year basis. On average, research analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date is Monday, March 31st. Micron Technology's dividend payout ratio (DPR) 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.