Swiss National Bank Decreases Holdings in Micron Technology, Inc. (NASDAQ:MU)

Swiss National Bank lowered its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 4.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,132,200 shares of the semiconductor manufacturer's stock after selling 159,100 shares during the quarter. Swiss National Bank owned approximately 0.28% of Micron Technology worth $263,606,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Stonebrook Private Inc. raised its stake in shares of Micron Technology by 4.2% during the third quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer's stock worth $255,000 after acquiring an additional 98 shares in the last quarter. John G Ullman & Associates Inc. boosted its stake in shares of Micron Technology by 2.5% in the 3rd quarter. John G Ullman & Associates Inc. now owns 4,063 shares of the semiconductor manufacturer's stock valued at $421,000 after purchasing an additional 100 shares in the last quarter. Trivant Custom Portfolio Group LLC grew its holdings in shares of Micron Technology by 20.0% during the 4th quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer's stock valued at $50,000 after purchasing an additional 100 shares during the last quarter. Xcel Wealth Management LLC raised its position in Micron Technology by 1.8% in the 4th quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer's stock worth $518,000 after purchasing an additional 108 shares during the period. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its stake in Micron Technology by 3.8% in the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer's stock worth $250,000 after purchasing an additional 108 shares during the last quarter. Institutional investors own 80.84% of the company's stock.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MU. Rosenblatt Securities reaffirmed a "buy" rating and set a $250.00 price objective on shares of Micron Technology in a research note on Wednesday, December 18th. Sanford C. Bernstein lowered their price objective on Micron Technology from $140.00 to $120.00 and set an "outperform" rating for the company in a research report on Wednesday, December 18th. KGI Securities upgraded shares of Micron Technology to a "strong-buy" rating in a report on Friday, February 21st. Needham & Company LLC lowered their price target on shares of Micron Technology from $140.00 to $120.00 and set a "buy" rating for the company in a report on Thursday, December 19th. Finally, Stifel Nicolaus dropped their price target on shares of Micron Technology from $135.00 to $130.00 and set a "buy" rating for the company in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $134.96.

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Micron Technology Price Performance

Shares of NASDAQ MU opened at $95.64 on Thursday. The company has a 50 day simple moving average of $96.35 and a two-hundred day simple moving average of $98.06. Micron Technology, Inc. has a fifty-two week low of $83.54 and a fifty-two week high of $157.54. The company has a market capitalization of $106.56 billion, a price-to-earnings ratio of 27.56 and a beta of 1.23. 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 announced its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business had revenue of $8.71 billion during the quarter, compared to analysts' expectations of $8.71 billion. During the same quarter in the previous year, the business earned ($0.95) earnings per share. The firm's quarterly revenue was up 84.3% compared to the same quarter last year. Analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were paid a dividend of $0.115 per share. The ex-dividend date was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a yield of 0.48%. Micron Technology's dividend payout ratio is currently 13.26%.

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.

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