Micron Technology, Inc. (NASDAQ:MU) Holdings Reduced by Ballast Inc.

Ballast Inc. trimmed its holdings in Micron Technology, Inc. (NASDAQ:MU) by 3.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 12,953 shares of the semiconductor manufacturer’s stock after selling 421 shares during the quarter. Ballast Inc.’s holdings in Micron Technology were worth $1,105,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. HMS Capital Management LLC increased its position in shares of Micron Technology by 0.7% during the fourth quarter. HMS Capital Management LLC now owns 19,842 shares of the semiconductor manufacturer’s stock worth $1,693,000 after acquiring an additional 138 shares in the last quarter. Huntington National Bank increased its holdings in shares of Micron Technology by 6.0% in the third quarter. Huntington National Bank now owns 2,652 shares of the semiconductor manufacturer’s stock valued at $180,000 after purchasing an additional 149 shares during the last quarter. Homestead Advisers Corp raised its holdings in Micron Technology by 12.5% in the 3rd quarter. Homestead Advisers Corp now owns 1,372 shares of the semiconductor manufacturer’s stock valued at $93,000 after acquiring an additional 152 shares during the period. Mount Yale Investment Advisors LLC lifted its holdings in Micron Technology by 1.6% during the 3rd quarter. Mount Yale Investment Advisors LLC now owns 10,103 shares of the semiconductor manufacturer’s stock worth $687,000 after purchasing an additional 159 shares during the last quarter. Finally, KB Financial Partners LLC lifted its holdings in shares of Micron Technology by 3.3% during the second quarter. KB Financial Partners LLC now owns 5,000 shares of the semiconductor manufacturer’s stock worth $316,000 after buying an additional 162 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Insider Activity at Micron Technology

In other news, CEO Sanjay Mehrotra sold 45,000 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $120.00, for a total value of $5,400,000.00. Following the completion of the transaction, the chief executive officer now directly owns 743,557 shares of the company’s stock, valued at $89,226,840. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have sold 264,000 shares of company stock valued at $26,368,640 over the last ninety days. Corporate insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on MU shares. Needham & Company LLC boosted their price target on Micron Technology from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Citigroup upped their price objective on Micron Technology from $95.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. Susquehanna increased their target price on shares of Micron Technology from $90.00 to $112.00 and gave the stock a “positive” rating in a report on Monday, December 18th. Robert W. Baird upped their price objective on shares of Micron Technology from $78.00 to $115.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 19th. Finally, Raymond James lifted their price target on Micron Technology from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $118.69.

Micron Technology Stock Down 1.1 %

Shares of NASDAQ:MU opened at $117.89 on Friday. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30. The stock’s 50 day moving average is $91.35 and its 200-day moving average is $80.65. Micron Technology, Inc. has a twelve month low of $56.01 and a twelve month high of $122.46.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.69. The business had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.35 billion. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The company’s quarterly revenue was up 57.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($2.03) EPS. As a group, equities research analysts predict that Micron Technology, Inc. will post 0.01 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st will be paid a $0.115 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $0.46 annualized dividend and a dividend yield of 0.39%. Micron Technology’s payout ratio is -13.33%.

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.