Micron Technology, Inc. (NASDAQ:MU) Shares Sold by JBF Capital Inc.

JBF Capital Inc. cut its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 93.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,000 shares of the semiconductor manufacturer's stock after selling 155,012 shares during the period. JBF Capital Inc.'s holdings in Micron Technology were worth $842,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Micron Technology by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer's stock valued at $8,403,982,000 after purchasing an additional 888,087 shares during the period. FMR LLC raised its stake in shares of Micron Technology by 34.6% in the fourth quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer's stock valued at $4,012,114,000 after acquiring an additional 12,249,341 shares in the last quarter. Capital World Investors grew its stake in Micron Technology by 63.7% during the 4th quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer's stock worth $3,458,673,000 after purchasing an additional 15,993,036 shares in the last quarter. Geode Capital Management LLC increased its holdings in Micron Technology by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 24,449,827 shares of the semiconductor manufacturer's stock worth $2,052,973,000 after purchasing an additional 726,282 shares during the period. Finally, Norges Bank purchased a new position in shares of Micron Technology in the 4th quarter valued at about $1,470,875,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Price Performance

Shares of Micron Technology stock traded up $4.25 during trading on Thursday, reaching $77.18. The company's stock had a trading volume of 14,951,357 shares, compared to its average volume of 23,221,074. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $157.54. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The business has a 50 day moving average price of $86.69 and a 200-day moving average price of $95.27. The company has a market capitalization of $86.25 billion, a P/E ratio of 22.23 and a beta of 1.18.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.13. The company had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm's revenue for the quarter was up 38.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.42 earnings per share. As a group, sell-side analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.60%. The ex-dividend date was Monday, March 31st. Micron Technology's dividend payout ratio (DPR) is 11.03%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Rosenblatt Securities reduced their target price on shares of Micron Technology from $250.00 to $200.00 and set a "buy" rating on the stock in a report on Friday, March 21st. Wedbush reissued an "outperform" rating and issued a $125.00 target price on shares of Micron Technology in a report on Monday, March 17th. Wells Fargo & Company lowered their price objective on Micron Technology from $140.00 to $130.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. JPMorgan Chase & Co. cut 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 Friday, March 21st. Finally, Morgan Stanley lifted 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 note on Friday, March 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $128.56.

Insider Transactions at Micron Technology

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