Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Jackson Square Capital LLC

Jackson Square Capital LLC lessened its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 13.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 99,279 shares of the semiconductor manufacturer's stock after selling 14,951 shares during the quarter. Micron Technology accounts for 2.0% of Jackson Square Capital LLC's portfolio, making the stock its 10th largest position. Jackson Square Capital LLC's holdings in Micron Technology were worth $8,355,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. KRS Capital Management LLC increased its position in shares of Micron Technology by 22.1% in the 4th quarter. KRS Capital Management LLC now owns 5,323 shares of the semiconductor manufacturer's stock worth $448,000 after purchasing an additional 963 shares during the last quarter. Sanibel Captiva Trust Company Inc. grew its stake in Micron Technology by 177.5% in the fourth quarter. Sanibel Captiva Trust Company Inc. now owns 23,836 shares of the semiconductor manufacturer's stock worth $2,006,000 after purchasing an additional 15,245 shares in the last quarter. Arkadios Wealth Advisors increased its holdings in Micron Technology by 81.9% in the fourth quarter. Arkadios Wealth Advisors now owns 15,066 shares of the semiconductor manufacturer's stock valued at $1,268,000 after buying an additional 6,784 shares during the last quarter. B & T Capital Management DBA Alpha Capital Management raised its stake in Micron Technology by 74.9% during the fourth quarter. B & T Capital Management DBA Alpha Capital Management now owns 5,638 shares of the semiconductor manufacturer's stock valued at $474,000 after buying an additional 2,415 shares in the last quarter. Finally, Trivant Custom Portfolio Group LLC grew its position in shares of Micron Technology by 20.0% in the 4th quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer's stock worth $50,000 after acquiring an additional 100 shares in the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business's stock in a transaction on Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the sale, the executive vice president now directly owns 181,223 shares of the company's stock, valued at $15,442,011.83. The trade was a 2.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.30% of the stock is currently owned by company insiders.

Micron Technology Price Performance

Shares of MU traded up $3.15 during mid-day trading on Friday, hitting $105.75. The company's stock had a trading volume of 18,832,956 shares, compared to its average volume of 29,325,942. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The firm has a 50-day moving average price of $97.87 and a 200 day moving average price of $102.27. Micron Technology, Inc. has a fifty-two week low of $79.15 and a fifty-two week high of $157.54. The stock has a market capitalization of $117.82 billion, a price-to-earnings ratio of 30.48 and a beta of 1.18.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $8.71 billion. During the same quarter in the previous year, the business posted ($0.95) earnings per share. The firm's quarterly revenue was up 84.3% compared to the same quarter last year. On average, research analysts predict that Micron Technology, Inc. will post 6.25 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were given a $0.115 dividend. The ex-dividend date was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.43%. Micron Technology's dividend payout ratio (DPR) is 13.26%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MU. Bank of America lowered Micron Technology from a "buy" rating to a "neutral" rating and dropped their price target for the company from $125.00 to $110.00 in a research report on Thursday, December 19th. The Goldman Sachs Group decreased their price target on shares of Micron Technology from $145.00 to $128.00 and set a "buy" rating for the company in a report on Thursday, December 19th. Susquehanna dropped their price objective on shares of Micron Technology from $175.00 to $165.00 and set a "positive" rating on the stock in a research note on Thursday, September 26th. Mizuho decreased their target price on Micron Technology from $135.00 to $115.00 and set an "outperform" rating for the company in a research note on Thursday, December 19th. Finally, 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 target on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $135.24.

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.