DnB Asset Management AS Sells 45,666 Shares of Micron Technology, Inc. (NASDAQ:MU)

DnB Asset Management AS decreased its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 13.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 284,630 shares of the semiconductor manufacturer's stock after selling 45,666 shares during the quarter. DnB Asset Management AS's holdings in Micron Technology were worth $23,954,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Level Four Advisory Services LLC grew its stake in Micron Technology by 9.2% in the fourth quarter. Level Four Advisory Services LLC now owns 63,584 shares of the semiconductor manufacturer's stock valued at $5,351,000 after acquiring an additional 5,350 shares during the period. denkapparat Operations GmbH acquired a new position in shares of Micron Technology in the 4th quarter valued at approximately $452,000. Orion Portfolio Solutions LLC increased its stake in Micron Technology by 2.2% during the 4th quarter. Orion Portfolio Solutions LLC now owns 48,342 shares of the semiconductor manufacturer's stock worth $4,068,000 after purchasing an additional 1,045 shares in the last quarter. Pictet Asset Management Holding SA increased its stake in Micron Technology by 1.3% during the 4th quarter. Pictet Asset Management Holding SA now owns 3,787,719 shares of the semiconductor manufacturer's stock worth $318,774,000 after purchasing an additional 47,328 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its holdings in Micron Technology by 339.6% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 2,255,000 shares of the semiconductor manufacturer's stock worth $189,781,000 after buying an additional 1,742,073 shares during the period. Institutional investors and hedge funds own 80.84% of the company's stock.

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Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Citigroup dropped their price target on Micron Technology from $150.00 to $120.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. KGI Securities raised Micron Technology to a "strong-buy" rating in a research report on Friday, February 21st. UBS Group lifted their price objective on shares of Micron Technology from $125.00 to $130.00 and gave the company a "buy" rating in a report on Monday, March 17th. Sanford C. Bernstein reduced their target price on shares of Micron Technology from $140.00 to $120.00 and set an "outperform" rating for the company in a report on Wednesday, December 18th. Finally, TD Cowen lowered 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $129.76.

Micron Technology Stock Performance

MU stock traded up $1.51 during trading hours on Tuesday, hitting $88.40. 7,209,955 shares of the stock were exchanged, compared to its average volume of 22,566,543. The company has a 50-day simple moving average of $95.62 and a two-hundred day simple moving average of $98.51. The firm has a market capitalization of $98.80 billion, a P/E ratio of 25.46 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. 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 posted its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.43 by $0.13. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. During the same quarter in the previous year, the firm posted $0.42 EPS. The business's revenue for the quarter was up 38.2% compared to the same quarter last year. On average, analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.115 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.46 annualized dividend and a yield of 0.52%. Micron Technology's dividend payout ratio is presently 11.03%.

Insider Activity

In other news, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the completion of the sale, the executive vice president now owns 164,769 shares of the company's stock, valued at approximately $15,847,482.42. This represents a 8.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the transaction, the director now directly owns 27,358 shares in the company, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their ownership of the stock. 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.