Wellington Management Group LLP Has $251.05 Million Position in Micron Technology, Inc. (NASDAQ:MU)

Wellington Management Group LLP lowered its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 43.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,983,028 shares of the semiconductor manufacturer's stock after selling 2,294,732 shares during the quarter. Wellington Management Group LLP owned about 0.27% of Micron Technology worth $251,052,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of MU. O Shaughnessy Asset Management LLC lifted its position in shares of Micron Technology by 1.8% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 106,222 shares of the semiconductor manufacturer's stock worth $8,940,000 after acquiring an additional 1,853 shares during the period. CIBC Private Wealth Group LLC lifted its position in Micron Technology by 43.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 14,178 shares of the semiconductor manufacturer's stock worth $1,193,000 after purchasing an additional 4,264 shares during the period. California Public Employees Retirement System lifted its position in Micron Technology by 3.8% in the fourth quarter. California Public Employees Retirement System now owns 4,067,046 shares of the semiconductor manufacturer's stock worth $342,283,000 after purchasing an additional 150,255 shares during the period. RWA Wealth Partners LLC boosted its stake in Micron Technology by 1,188.6% during the fourth quarter. RWA Wealth Partners LLC now owns 66,030 shares of the semiconductor manufacturer's stock worth $5,557,000 after buying an additional 60,906 shares in the last quarter. Finally, Schroder Investment Management Group increased its holdings in Micron Technology by 16.3% in the 4th quarter. Schroder Investment Management Group now owns 564,884 shares of the semiconductor manufacturer's stock valued at $47,541,000 after buying an additional 79,323 shares during the period. 80.84% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the 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 directly owns 27,358 shares of the company's stock, valued at approximately $2,542,378.94. This represents a 8.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP April S. Arnzen sold 15,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 25th. The stock was 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 owns 164,769 shares in the company, valued at $15,847,482.42. This trade represents a 8.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

Micron Technology Trading Down 12.9 %

Shares of MU traded down $9.62 on Friday, reaching $64.72. 50,571,490 shares of the company's stock were exchanged, compared to its average volume of 22,784,213. Micron Technology, Inc. has a 12 month low of $63.86 and a 12 month high of $157.54. The stock has a market capitalization of $72.33 billion, a P/E ratio of 18.65 and a beta of 1.23. 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 moving average price of $93.42 and a two-hundred day moving average price of $98.16.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly 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. The business had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm's revenue was up 38.2% on a year-over-year basis. During the same period last year, the company earned $0.42 EPS. Research analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.115 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.71%. Micron Technology's dividend payout ratio is 11.03%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MU. Royal Bank of Canada set a $125.00 target price on shares of Micron Technology in a research report on Wednesday, March 19th. Rosenblatt Securities decreased their price objective on Micron Technology from $250.00 to $200.00 and set a "buy" rating on the stock in a report on Friday, March 21st. Barclays increased their target price on Micron Technology from $110.00 to $115.00 and gave the stock an "overweight" rating in a report on Friday, March 21st. Wells Fargo & Company decreased their price target on Micron Technology from $140.00 to $130.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Finally, TD Cowen dropped their price objective 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. One equities research 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. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $129.76.

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.