Micron Technology, Inc. (NASDAQ:MU) Shares Sold by TCW Group Inc.

TCW Group Inc. decreased its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 10.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 442,497 shares of the semiconductor manufacturer's stock after selling 51,698 shares during the quarter. TCW Group Inc.'s holdings in Micron Technology were worth $37,241,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp lifted its holdings in Micron Technology by 3.1% in the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer's stock worth $5,001,592,000 after purchasing an additional 1,434,568 shares during the period. Primecap Management Co. CA lifted its holdings in Micron Technology by 0.6% in the third quarter. Primecap Management Co. CA now owns 37,631,860 shares of the semiconductor manufacturer's stock worth $3,902,800,000 after purchasing an additional 206,499 shares during the period. Geode Capital Management LLC lifted its holdings in Micron Technology by 3.9% in the third quarter. Geode Capital Management LLC now owns 23,723,545 shares of the semiconductor manufacturer's stock worth $2,451,987,000 after purchasing an additional 892,607 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Micron Technology by 21.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer's stock worth $1,174,643,000 after purchasing an additional 2,022,180 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in Micron Technology by 30.6% in the third quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer's stock worth $1,109,769,000 after purchasing an additional 2,477,985 shares during the period. Institutional investors and hedge funds own 80.84% of the company's stock.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the sale, the executive vice president now directly owns 181,223 shares of the company's stock, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.30% of the company's stock.

Micron Technology Trading Down 4.3 %

Shares of NASDAQ MU opened at $98.78 on Friday. The stock has a market cap of $110.06 billion, a price-to-earnings ratio of 28.47 and a beta of 1.18. The business has a 50 day simple moving average of $96.28 and a 200 day simple moving average of $98.82. Micron Technology, Inc. has a 52 week low of $83.54 and a 52 week high of $157.54. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72.

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 the consensus estimate of $1.60 by $0.19. The business 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 quarter in the previous year, the business posted ($0.95) EPS. On average, research analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were given a dividend of $0.115 per share. The ex-dividend date was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a yield of 0.47%. Micron Technology's payout ratio is currently 13.26%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MU. Piper Sandler cut their price target on shares of Micron Technology from $150.00 to $120.00 and set an "overweight" rating for the company in a report on Thursday, December 19th. Cantor Fitzgerald cut their price target 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. China Renaissance began coverage on shares of Micron Technology in a report on Monday, October 28th. They issued a "buy" rating and a $148.00 price target for the company. Wedbush reissued an "outperform" rating and issued a $140.00 price target on shares of Micron Technology in a report on Tuesday, December 17th. Finally, Morgan Stanley cut their price target on shares of Micron Technology from $98.00 to $91.00 and set an "equal weight" rating for the company in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $134.96.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.