River Global Investors LLP Sells 12,745 Shares of Micron Technology, Inc. (NASDAQ:MU)

River Global Investors LLP reduced its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 41.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,676 shares of the semiconductor manufacturer's stock after selling 12,745 shares during the quarter. River Global Investors LLP's holdings in Micron Technology were worth $1,488,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. PNC Financial Services Group Inc. boosted its stake in Micron Technology by 1.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 414,072 shares of the semiconductor manufacturer's stock valued at $34,848,000 after acquiring an additional 4,947 shares during the last quarter. Banco Santander S.A. boosted its stake in Micron Technology by 37.3% in the fourth quarter. Banco Santander S.A. now owns 225,671 shares of the semiconductor manufacturer's stock valued at $18,992,000 after acquiring an additional 61,293 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its stake in Micron Technology by 1.4% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 174,329 shares of the semiconductor manufacturer's stock valued at $15,766,000 after acquiring an additional 2,465 shares during the last quarter. RKL Wealth Management LLC boosted its stake in Micron Technology by 5.0% in the fourth quarter. RKL Wealth Management LLC now owns 24,804 shares of the semiconductor manufacturer's stock valued at $2,088,000 after acquiring an additional 1,188 shares during the last quarter. Finally, West Family Investments Inc. bought a new position in Micron Technology in the fourth quarter valued at approximately $276,000. 80.84% of the stock is owned by institutional investors.

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Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on MU shares. Bank of America cut shares of Micron Technology from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $125.00 to $110.00 in a research report on Thursday, December 19th. Morgan Stanley reduced their price target on shares of Micron Technology from $98.00 to $91.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 28th. Mizuho reduced 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. TD Cowen reduced their price target on shares of Micron Technology from $135.00 to $125.00 and set a "buy" rating on the stock in a research report on Thursday, December 19th. Finally, UBS Group reduced their price target on shares of Micron Technology from $135.00 to $125.00 and set a "buy" rating on the stock in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $134.96.

Micron Technology Stock Up 4.1 %

MU stock traded up $3.69 during midday trading on Friday, hitting $92.96. The company's stock had a trading volume of 19,124,262 shares, compared to its average volume of 22,173,117. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. Micron Technology, Inc. has a twelve month low of $83.54 and a twelve month high of $157.54. The company's fifty day moving average price is $95.99 and its 200 day moving average price is $98.36. The stock has a market capitalization of $103.57 billion, a P/E ratio of 26.79 and a beta of 1.23.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS 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 company had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. During the same quarter last year, the firm posted ($0.95) EPS. The company's quarterly revenue was up 84.3% on a year-over-year basis. As a group, equities research analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Monday, December 30th. Micron Technology's dividend payout ratio (DPR) is presently 13.26%.

Insider Activity

In related news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction dated 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 sale, the director now owns 27,358 shares of the company's stock, valued at approximately $2,542,378.94. The trade was a 8.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the sale, the executive vice president now directly owns 181,223 shares of the company's stock, valued at $15,442,011.83. The trade was a 2.63 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.30% of the company's stock.

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.