Ossiam Sells 1,407,481 Shares of Micron Technology, Inc. (NASDAQ:MU)

Ossiam cut its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 97.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 43,801 shares of the semiconductor manufacturer's stock after selling 1,407,481 shares during the quarter. Ossiam's holdings in Micron Technology were worth $3,686,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of MU. Beacon Capital Management LLC lifted its position in Micron Technology by 114.9% in the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock valued at $31,000 after acquiring an additional 200 shares in the last quarter. Midwest Capital Advisors LLC purchased a new stake in shares of Micron Technology during the 4th quarter valued at $33,000. Activest Wealth Management raised its position in Micron Technology by 583.3% in the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer's stock worth $34,000 after acquiring an additional 350 shares during the period. Comprehensive Financial Planning Inc. PA bought a new position in Micron Technology during the fourth quarter valued at $34,000. Finally, Curio Wealth LLC bought a new position in Micron Technology during the fourth quarter worth about $34,000. 80.84% of the stock is owned by institutional investors.

Micron Technology Trading Down 3.0 %

Shares of MU traded down $2.06 during trading hours on Monday, hitting $66.74. The company had a trading volume of 19,787,133 shares, compared to its average volume of 23,215,929. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week 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 stock's 50 day moving average price is $87.73 and its 200 day moving average price is $95.60. The firm has a market cap of $74.59 billion, a P/E ratio of 19.23 and a beta of 1.18.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping analysts' consensus estimates of $1.43 by $0.13. The business had revenue of $8.05 billion for the quarter, compared to analysts' expectations of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business's quarterly revenue was up 38.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.42 EPS. On average, research analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology's dividend payout ratio (DPR) is presently 11.03%.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the business's stock in a transaction 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 transaction, the executive vice president now directly owns 164,769 shares of the company's stock, valued at approximately $15,847,482.42. The trade was a 8.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was 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 directly owns 27,358 shares of the company's stock, valued at approximately $2,542,378.94. This 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.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on MU shares. KGI Securities raised shares of Micron Technology to a "strong-buy" rating in a research report on Friday, February 21st. Barclays raised their price target on Micron Technology from $110.00 to $115.00 and gave the stock an "overweight" rating in a report on Friday, March 21st. Wedbush reiterated an "outperform" rating and set a $125.00 price objective on shares of Micron Technology in a research note on Monday, March 17th. Morgan Stanley increased their price objective on Micron Technology from $91.00 to $112.00 and gave the stock an "equal weight" rating in a report on Friday, March 21st. Finally, Royal Bank of Canada set a $125.00 target price on Micron Technology in a report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Micron Technology currently has an average rating of "Moderate Buy" and a consensus price target of $129.36.

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.