Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. trimmed its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 25.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,312,840 shares of the semiconductor manufacturer's stock after selling 447,679 shares during the quarter. Prudential Financial Inc. owned approximately 0.12% of Micron Technology worth $110,489,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Micron Technology by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer's stock worth $8,403,982,000 after purchasing an additional 888,087 shares in the last quarter. State Street Corp lifted its holdings in shares of Micron Technology by 3.1% in the 3rd quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer's stock worth $5,001,592,000 after buying an additional 1,434,568 shares during the period. Geode Capital Management LLC grew its position in shares of Micron Technology by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 23,723,545 shares of the semiconductor manufacturer's stock worth $2,451,987,000 after buying an additional 892,607 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Micron Technology by 21.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer's stock valued at $1,174,643,000 after buying an additional 2,022,180 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Micron Technology by 1.5% during the fourth quarter. Bank of New York Mellon Corp now owns 9,956,311 shares of the semiconductor manufacturer's stock valued at $837,923,000 after buying an additional 144,897 shares during the period. 80.84% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

Several brokerages have issued reports on MU. Stifel Nicolaus dropped their target price on shares of Micron Technology from $135.00 to $130.00 and set a "buy" rating on the stock in a report on Thursday, December 19th. China Renaissance downgraded shares of Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price objective on the stock. in a research note on Wednesday. KGI Securities upgraded shares of Micron Technology to a "strong-buy" rating in a report on Friday, February 21st. TD Cowen lowered their price target on shares of Micron Technology from $135.00 to $125.00 and set a "buy" rating on the stock in a report on Thursday, December 19th. Finally, Citigroup reduced their price objective on shares of Micron Technology from $150.00 to $120.00 and set a "buy" rating for the company in a research note on Friday, March 21st. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $129.76.

Insider Activity at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the company's stock in a transaction that occurred on 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 transaction, the director now directly owns 27,358 shares of the company's stock, valued at $2,542,378.94. This represents a 8.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP April S. Arnzen sold 15,000 shares of Micron Technology 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 completion of the sale, the executive vice president now directly owns 164,769 shares in the company, valued at $15,847,482.42. This represents a 8.34 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

Micron Technology Stock Performance

Shares of Micron Technology stock traded down $2.72 during trading on Friday, hitting $88.44. 17,071,458 shares of the company's stock were exchanged, compared to its average volume of 22,873,306. The stock has a market capitalization of $98.84 billion, a price-to-earnings ratio of 25.49 and a beta of 1.23. The business has a 50-day simple moving average of $96.00 and a 200-day simple moving average of $98.37. Micron Technology, Inc. has a 52-week low of $83.54 and a 52-week 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.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.13. The business had revenue of $8.05 billion during 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 company's revenue for the quarter was up 38.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.42 EPS. On average, research analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend is Monday, March 31st. Micron Technology's dividend payout ratio (DPR) is presently 11.03%.

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.