Rockefeller Capital Management L.P. Has $26.81 Million Position in Micron Technology, Inc. (NASDAQ:MU)

Rockefeller Capital Management L.P. lessened its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 14.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 318,260 shares of the semiconductor manufacturer's stock after selling 53,268 shares during the quarter. Rockefeller Capital Management L.P.'s holdings in Micron Technology were worth $26,812,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MU. Monetary Management Group Inc. increased its position in shares of Micron Technology by 4.8% in the fourth quarter. Monetary Management Group Inc. now owns 4,400 shares of the semiconductor manufacturer's stock valued at $370,000 after buying an additional 200 shares in the last quarter. Quinn Opportunity Partners LLC acquired a new position in Micron Technology during the fourth quarter worth about $505,000. Heritage Trust Co purchased a new stake in shares of Micron Technology in the fourth quarter valued at about $1,181,000. Treasurer of the State of North Carolina grew its position in shares of Micron Technology by 11.1% in the fourth quarter. Treasurer of the State of North Carolina now owns 570,246 shares of the semiconductor manufacturer's stock valued at $47,992,000 after purchasing an additional 56,930 shares during the last quarter. Finally, Legacy Financial Advisors Inc. increased its stake in shares of Micron Technology by 10.1% during the 4th quarter. Legacy Financial Advisors Inc. now owns 2,622 shares of the semiconductor manufacturer's stock worth $221,000 after purchasing an additional 241 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group decreased their price target 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. Royal Bank of Canada set a $125.00 target price on Micron Technology in a research note on Wednesday, March 19th. Morgan Stanley upped their price objective on shares of Micron Technology from $91.00 to $112.00 and gave the company an "equal weight" rating in a research note on Friday, March 21st. China Renaissance downgraded shares of Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price target on the stock. in a research note on Wednesday, March 26th. Finally, Robert W. Baird boosted their price objective on shares of Micron Technology from $130.00 to $163.00 and gave the company an "outperform" rating in a research note on Friday, March 21st. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $129.36.

Micron Technology Stock Performance

NASDAQ MU traded down $0.93 during trading hours on Thursday, reaching $68.40. The company's stock had a trading volume of 9,768,003 shares, compared to its average volume of 23,274,661. The stock has a market cap of $76.44 billion, a PE ratio of 19.67 and a beta of 1.18. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $157.54. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The business has a 50-day simple moving average of $89.28 and a 200 day simple moving average of $96.38.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company's revenue for the quarter was up 38.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 earnings per share. Equities research analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.67%. The ex-dividend date was Monday, March 31st. Micron Technology's payout ratio is currently 11.03%.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the business's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the sale, the executive vice president now directly owns 164,769 shares in the company, valued at approximately $15,847,482.42. The trade was a 8.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the business'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 sale, the director now owns 27,358 shares in the company, valued at $2,542,378.94. The trade was a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.30% of the company's stock.

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.