MML Investors Services LLC reduced its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 11.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 96,083 shares of the semiconductor manufacturer's stock after selling 12,320 shares during the quarter. MML Investors Services LLC's holdings in Micron Technology were worth $8,086,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. E Fund Management Co. Ltd. boosted its holdings in Micron Technology by 31.8% in the 4th quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer's stock valued at $3,062,000 after purchasing an additional 8,780 shares in the last quarter. CIBC Private Wealth Group LLC boosted its stake in shares of Micron Technology by 43.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 14,178 shares of the semiconductor manufacturer's stock valued at $1,193,000 after buying an additional 4,264 shares in the last quarter. Stablepoint Partners LLC acquired a new position in Micron Technology during the fourth quarter worth $569,000. Landscape Capital Management L.L.C. raised its position in Micron Technology by 167.0% in the fourth quarter. Landscape Capital Management L.L.C. now owns 45,758 shares of the semiconductor manufacturer's stock worth $3,851,000 after acquiring an additional 28,621 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH lifted its holdings in Micron Technology by 11.7% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 502,374 shares of the semiconductor manufacturer's stock valued at $42,280,000 after acquiring an additional 52,729 shares during the period. Institutional investors and hedge funds own 80.84% of the company's stock.
Micron Technology Stock Performance
NASDAQ MU opened at $72.88 on Thursday. The business's 50-day moving average price is $86.69 and its 200 day moving average price is $95.27. 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, Inc. has a twelve month low of $61.54 and a twelve month high of $157.54. The company has a market capitalization of $81.44 billion, a PE ratio of 21.00 and a beta of 1.18.
Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings data 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. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same period in the prior year, the firm posted $0.42 EPS. The company's revenue was up 38.2% on a year-over-year basis. On average, research analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current year.
Micron Technology Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.63%. Micron Technology's payout ratio is 11.03%.
Insider Buying and Selling
In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the business'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 directly owns 164,769 shares in the company, valued at $15,847,482.42. The trade was a 8.34 % 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, Director Mary Pat Mccarthy sold 2,404 shares of the firm'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 transaction, the director now directly owns 27,358 shares in the company, valued at approximately $2,542,378.94. This represents 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.
Analyst Ratings Changes
MU has been the topic of a number of recent analyst reports. Morgan Stanley upped 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. KGI Securities raised shares of Micron Technology to a "strong-buy" rating in a report on Friday, February 21st. Wedbush reissued an "outperform" rating and set a $125.00 price target on shares of Micron Technology in a research note on Monday, March 17th. Robert W. Baird raised their price objective on Micron Technology from $130.00 to $163.00 and gave the company an "outperform" rating in a research note on Friday, March 21st. Finally, UBS Group boosted their target price on Micron Technology from $125.00 to $130.00 and gave the stock a "buy" rating in a research report on Monday, March 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have given a buy rating and one has given 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 a consensus price target of $128.56.
Check Out Our Latest Analysis on Micron Technology
Micron Technology Profile
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Free Report)
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.
Further Reading
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