XTX Topco Ltd Sells 18,317 Shares of Micron Technology, Inc. (NASDAQ:MU)

XTX Topco Ltd trimmed its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 66.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,382 shares of the semiconductor manufacturer's stock after selling 18,317 shares during the period. XTX Topco Ltd's holdings in Micron Technology were worth $790,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MU. Beacon Capital Management LLC lifted its stake in shares of Micron Technology by 114.9% in the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock valued at $31,000 after purchasing an additional 200 shares during the period. Midwest Capital Advisors LLC bought a new stake in shares of Micron Technology in the 4th quarter valued at about $33,000. Activest Wealth Management boosted its stake in Micron Technology by 583.3% during the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer's stock worth $34,000 after acquiring an additional 350 shares during the last quarter. Comprehensive Financial Planning Inc. PA bought a new stake in Micron Technology in the fourth quarter valued at approximately $34,000. Finally, Curio Wealth LLC acquired a new stake in Micron Technology in the fourth quarter worth $34,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on MU shares. UBS Group raised their price objective on Micron Technology from $125.00 to $130.00 and gave the stock a "buy" rating in a research note on Monday, March 17th. JPMorgan Chase & Co. cut their price target on shares of Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a research note on Friday, March 21st. Wells Fargo & Company dropped their price objective on shares of Micron Technology from $140.00 to $130.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Morgan Stanley lifted their price target on Micron Technology from $91.00 to $112.00 and gave the company an "equal weight" rating in a research note on Friday, March 21st. Finally, Barclays lifted their target price on Micron Technology from $110.00 to $115.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, three have given 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.com, Micron Technology has a consensus rating of "Moderate Buy" and an average target price of $129.36.

Insider Buying and Selling

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the firm'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 completion of the transaction, the director now owns 27,358 shares of the company's stock, valued at approximately $2,542,378.94. This trade represents a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

Micron Technology Stock Performance

MU stock traded up $2.24 during mid-day trading on Tuesday, hitting $68.98. 4,300,984 shares of the company were exchanged, compared to its average volume of 23,144,540. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $157.54. The business has a 50 day simple moving average of $87.73 and a 200-day simple moving average of $95.60. 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 stock has a market capitalization of $77.09 billion, a PE ratio of 19.91 and a beta of 1.18.

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

Micron Technology Announces Dividend

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

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.