Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. lowered its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 2.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,492,965 shares of the semiconductor manufacturer's stock after selling 30,300 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 0.14% of Micron Technology worth $101,566,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of MU. Fortis Capital Advisors LLC acquired a new position in shares of Micron Technology during the fourth quarter valued at $25,000. OFI Invest Asset Management acquired a new position in shares of Micron Technology during the third quarter valued at $27,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Micron Technology during the 3rd quarter valued at $28,000. Coppell Advisory Solutions LLC bought a new stake in Micron Technology during the 2nd quarter valued at $32,000. Finally, 1832 Asset Management L.P. purchased a new stake in shares of Micron Technology during the second quarter valued at $38,000. Institutional investors and hedge funds own 79.25% of the company's stock.

Insider Activity at Micron Technology

In other news, CEO Sanjay Mehrotra sold 127,000 shares of the business's stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $80.01, for a total value of $10,161,270.00. Following the completion of the transaction, the chief executive officer now directly owns 651,759 shares in the company, valued at approximately $52,147,237.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Micron Technology news, EVP Scott J. Deboer sold 28,228 shares of the stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $87.24, for a total transaction of $2,462,610.72. Following the completion of the sale, the executive vice president now owns 203,342 shares of the company's stock, valued at approximately $17,739,556.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sanjay Mehrotra sold 127,000 shares of the business's stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $80.01, for a total value of $10,161,270.00. Following the completion of the transaction, the chief executive officer now owns 651,759 shares in the company, valued at approximately $52,147,237.59. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 284,228 shares of company stock worth $23,701,321. Company insiders own 0.32% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on MU shares. Morgan Stanley upped their target price on Micron Technology from $71.50 to $74.75 and gave the company an "underweight" rating in a report on Thursday, December 21st. Needham & Company LLC boosted their target price on shares of Micron Technology from $85.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, December 21st. Cantor Fitzgerald began coverage on shares of Micron Technology in a research note on Tuesday, January 23rd. They set an "overweight" rating and a $100.00 target price on the stock. KeyCorp reissued an "overweight" rating on shares of Micron Technology in a research note on Wednesday, January 31st. Finally, Evercore ISI increased their target price on shares of Micron Technology from $90.00 to $100.00 and gave the stock an "outperform" rating in a research report on Thursday, December 21st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-two have issued a buy rating to the company's stock. According to MarketBeat, Micron Technology has a consensus rating of "Moderate Buy" and an average target price of $95.35.

Micron Technology Stock Performance

Shares of MU stock traded up $0.44 on Monday, reaching $95.59. The stock had a trading volume of 5,793,312 shares, compared to its average volume of 14,227,154. Micron Technology, Inc. has a 12 month low of $52.76 and a 12 month high of $97.25. The firm has a market capitalization of $105.52 billion, a price-to-earnings ratio of -15.60 and a beta of 1.24. The firm's 50-day moving average is $85.39 and its two-hundred day moving average is $76.47. The company has a quick ratio of 2.14, a current ratio of 3.53 and a debt-to-equity ratio of 0.29.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings data on Wednesday, December 20th. The semiconductor manufacturer reported ($0.95) EPS for the quarter, beating the consensus estimate of ($1.01) by $0.06. The firm had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.58 billion. Micron Technology had a negative net margin of 42.47% and a negative return on equity of 14.44%. The company's quarterly revenue was up 15.7% on a year-over-year basis. During the same period in the previous year, the company earned ($0.15) earnings per share. On average, research analysts expect that Micron Technology, Inc. will post -0.99 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 18th. Investors of record on Tuesday, January 2nd were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.48%. The ex-dividend date was Friday, December 29th. Micron Technology's dividend payout ratio (DPR) is currently -7.32%.

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.

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