Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Mirabella Financial Services LLP

Mirabella Financial Services LLP reduced its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 59.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,016 shares of the semiconductor manufacturer's stock after selling 53,890 shares during the period. Mirabella Financial Services LLP's holdings in Micron Technology were worth $3,115,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Beacon Capital Management LLC lifted its position in shares of 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 during the period. Midwest Capital Advisors LLC bought a new position in Micron Technology in the fourth quarter worth approximately $33,000. Comprehensive Financial Planning Inc. PA purchased a new stake in Micron Technology during the fourth quarter worth $34,000. Curio Wealth LLC bought a new stake in Micron Technology during the 4th quarter valued at $34,000. Finally, Activest Wealth Management boosted its position in Micron Technology by 583.3% during 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 in the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Price Performance

Shares of Micron Technology stock traded up $4.30 on Thursday, hitting $77.23. The company's stock had a trading volume of 14,951,357 shares, compared to its average volume of 23,221,074. The company has a market capitalization of $86.31 billion, a price-to-earnings ratio of 22.23 and a beta of 1.18. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year 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. The firm has a fifty day moving average price of $86.69 and a 200-day moving average price of $95.27.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business had revenue of $8.05 billion during the quarter, compared to analysts' expectations of $7.93 billion. During the same period in the previous year, the business earned $0.42 earnings per share. The business's revenue was up 38.2% compared to the same quarter last year. As a group, sell-side analysts anticipate 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 Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a $0.115 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.46 annualized dividend and a dividend yield of 0.60%. Micron Technology's dividend payout ratio (DPR) is 11.03%.

Insider Transactions at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the company's stock in a transaction 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 sale, the director now owns 27,358 shares of the company's stock, valued at $2,542,378.94. This represents a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction dated 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 $15,847,482.42. This trade represents a 8.34 % 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.

Analyst Ratings Changes

A number of brokerages recently weighed in on MU. Citigroup decreased their price objective on Micron Technology from $120.00 to $110.00 and set a "buy" rating for the company in a research note on Friday, April 11th. UBS Group lifted their price objective on shares of Micron Technology from $125.00 to $130.00 and gave the stock a "buy" rating in a research report on Monday, March 17th. Robert W. Baird raised their target price on shares of Micron Technology from $130.00 to $163.00 and gave the company an "outperform" rating in a research note on Friday, March 21st. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $130.00 price target on shares of Micron Technology in a research report on Friday, March 21st. Finally, Wells Fargo & Company dropped their target price on Micron Technology from $140.00 to $130.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $128.56.

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.