Stevens Capital Management LP Cuts Stake in Micron Technology, Inc. (NASDAQ:MU)

Stevens Capital Management LP trimmed its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 72.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,896 shares of the semiconductor manufacturer's stock after selling 64,350 shares during the period. Micron Technology makes up approximately 0.8% of Stevens Capital Management LP's investment portfolio, making the stock its 22nd largest holding. Stevens Capital Management LP's holdings in Micron Technology were worth $2,095,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of MU. Beacon Capital Management LLC increased its holdings in shares of Micron Technology by 114.9% during the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock worth $31,000 after acquiring an additional 200 shares during the last quarter. True Wealth Design LLC boosted its position in shares of Micron Technology by 1,096.3% during the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer's stock worth $33,000 after acquiring an additional 296 shares in the last quarter. Midwest Capital Advisors LLC acquired a new position in Micron Technology during the fourth quarter valued at approximately $33,000. Stone House Investment Management LLC lifted its stake in Micron Technology by 602.2% during the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer's stock worth $34,000 after purchasing an additional 277 shares during the last quarter. Finally, Activest Wealth Management increased its stake in shares of Micron Technology by 583.3% in the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer's stock valued at $34,000 after purchasing an additional 350 shares during the last quarter. Institutional investors own 80.84% of the company's stock.

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Analyst Upgrades and Downgrades

Several research analysts have commented on MU shares. TD Cowen lowered their target price on Micron Technology from $135.00 to $125.00 and set a "buy" rating for the company in a research note on Thursday, December 19th. Wedbush reiterated an "outperform" rating and set a $125.00 price target on shares of Micron Technology in a report on Monday, March 17th. Stifel Nicolaus decreased their price objective on Micron Technology from $135.00 to $130.00 and set a "buy" rating for the company in a report on Thursday, December 19th. KGI Securities raised Micron Technology to a "strong-buy" rating in a report on Friday, February 21st. Finally, Citigroup decreased their price target on 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 given a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $129.96.

Insider Activity

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the sale, the director now owns 27,358 shares of the company's stock, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.30% of the company's stock.

Micron Technology Stock Performance

NASDAQ MU traded down $2.05 on Wednesday, hitting $92.13. 27,084,228 shares of the stock traded hands, compared to its average volume of 22,301,436. The firm has a market capitalization of $102.65 billion, a price-to-earnings ratio of 26.55 and a beta of 1.23. The business's fifty day moving average is $96.80 and its two-hundred day moving average is $98.45. 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, Inc. has a 12 month low of $83.54 and a 12 month high of $157.54.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping analysts' consensus estimates 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 last year, the business earned $0.42 earnings per share. The company's quarterly revenue was up 38.2% on a year-over-year basis. As a group, equities analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 0.50%. The ex-dividend date of this dividend is Monday, March 31st. Micron Technology's payout ratio 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.