Senvest Management LLC Sells 100,900 Shares of Micron Technology, Inc. (NASDAQ:MU)

Senvest Management LLC reduced its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 18.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 458,792 shares of the semiconductor manufacturer's stock after selling 100,900 shares during the period. Micron Technology comprises 1.2% of Senvest Management LLC's holdings, making the stock its 22nd largest position. Senvest Management LLC's holdings in Micron Technology were worth $38,612,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Canada Post Corp Registered Pension Plan acquired a new position in Micron Technology in the 4th quarter valued at about $1,484,000. CreativeOne Wealth LLC lifted its holdings in Micron Technology by 112.7% during the 4th quarter. CreativeOne Wealth LLC now owns 15,383 shares of the semiconductor manufacturer's stock worth $1,295,000 after purchasing an additional 8,152 shares during the last quarter. Mariner LLC boosted its stake in Micron Technology by 4.2% in the 4th quarter. Mariner LLC now owns 220,722 shares of the semiconductor manufacturer's stock valued at $18,576,000 after purchasing an additional 8,846 shares during the period. Garner Asset Management Corp grew its holdings in Micron Technology by 11.7% in the 4th quarter. Garner Asset Management Corp now owns 5,174 shares of the semiconductor manufacturer's stock valued at $436,000 after buying an additional 540 shares in the last quarter. Finally, SageView Advisory Group LLC lifted its holdings in shares of Micron Technology by 40.0% during the fourth quarter. SageView Advisory Group LLC now owns 4,309 shares of the semiconductor manufacturer's stock worth $363,000 after buying an additional 1,232 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president now directly owns 164,769 shares in the company, valued at approximately $15,847,482.42. This represents a 8.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the sale, the director now directly owns 27,358 shares in the company, valued at $2,542,378.94. The trade was a 8.08 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by company insiders.

Micron Technology Stock Down 0.8 %

Shares of MU traded down $0.53 on Friday, reaching $68.80. The company's stock had a trading volume of 20,670,930 shares, compared to its average volume of 23,307,121. 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 firm has a fifty day moving average of $88.74 and a 200-day moving average of $96.14. The stock has a market capitalization of $76.89 billion, a PE ratio of 19.83 and a beta of 1.18. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $157.54.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.13. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.93 billion. During the same quarter in the prior year, the business posted $0.42 EPS. The business's revenue was up 38.2% compared to the same quarter last year. Equities analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on MU shares. Barclays increased their target price on shares of Micron Technology from $110.00 to $115.00 and gave the stock an "overweight" rating in a research report on Friday, March 21st. The Goldman Sachs Group reduced 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 report on Thursday, December 19th. Wells Fargo & Company cut their target price on Micron Technology from $140.00 to $130.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Citigroup reduced their price objective on Micron Technology from $120.00 to $110.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Finally, Robert W. Baird boosted their target price on Micron Technology from $130.00 to $163.00 and gave the stock an "outperform" rating in a research note on Friday, March 21st. One 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 company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $129.36.

Micron Technology Company 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.