Micron Technology, Inc. (NASDAQ:MU) Position Increased by Paradigm Asset Management Co. LLC

Paradigm Asset Management Co. LLC lifted its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 811.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 16,400 shares of the semiconductor manufacturer's stock after purchasing an additional 14,600 shares during the quarter. Paradigm Asset Management Co. LLC's holdings in Micron Technology were worth $1,380,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in MU. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Micron Technology in the 4th quarter worth approximately $357,000. Legacy Capital Group California Inc. grew its holdings in Micron Technology by 227.2% in the fourth quarter. Legacy Capital Group California Inc. now owns 9,935 shares of the semiconductor manufacturer's stock valued at $836,000 after purchasing an additional 6,899 shares during the last quarter. Concurrent Investment Advisors LLC grew its holdings in Micron Technology by 24.4% in the fourth quarter. Concurrent Investment Advisors LLC now owns 7,873 shares of the semiconductor manufacturer's stock valued at $663,000 after purchasing an additional 1,542 shares during the last quarter. Handelsbanken Fonder AB increased its position in shares of Micron Technology by 18.5% in the fourth quarter. Handelsbanken Fonder AB now owns 514,872 shares of the semiconductor manufacturer's stock valued at $43,332,000 after buying an additional 80,276 shares in the last quarter. Finally, Sunpointe LLC raised its stake in shares of Micron Technology by 28.6% during the 4th quarter. Sunpointe LLC now owns 3,312 shares of the semiconductor manufacturer's stock worth $279,000 after buying an additional 736 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company's stock.

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the company's stock in a transaction on Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the transaction, the executive vice president now directly owns 181,223 shares in the company, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.30% of the stock is currently owned by corporate insiders.

Micron Technology Trading Down 4.3 %

Shares of NASDAQ MU traded down $4.40 during midday trading on Friday, hitting $98.78. The stock had a trading volume of 18,633,227 shares, compared to its average volume of 22,918,740. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 1-year low of $83.54 and a 1-year high of $157.54. The company has a market capitalization of $110.06 billion, a price-to-earnings ratio of 28.47 and a beta of 1.18. The company has a fifty day moving average price of $96.35 and a 200 day moving average price of $98.70.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating analysts' consensus estimates of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm had revenue of $8.71 billion for the quarter, compared to analysts' expectations of $8.71 billion. During the same period in the previous year, the company posted ($0.95) earnings per share. Micron Technology's revenue was up 84.3% compared to the same quarter last year. On average, analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were issued a $0.115 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 annualized dividend and a yield of 0.47%. Micron Technology's dividend payout ratio is currently 13.26%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. The Goldman Sachs Group lowered their price objective on shares of Micron Technology from $145.00 to $128.00 and set a "buy" rating on the stock in a research note on Thursday, December 19th. Mizuho lowered their price target on shares of Micron Technology from $135.00 to $115.00 and set an "outperform" rating on the stock in a research report on Thursday, December 19th. Bank of America downgraded Micron Technology from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $125.00 to $110.00 in a research report on Thursday, December 19th. TD Cowen reduced their target price on Micron Technology from $135.00 to $125.00 and set a "buy" rating on the stock in a research note on Thursday, December 19th. Finally, Robert W. Baird dropped their price target on Micron Technology from $150.00 to $130.00 and set an "outperform" rating for the company in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $134.96.

About Micron Technology

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.