Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Sentry Investment Management LLC

Sentry Investment Management LLC trimmed its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 2.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,188 shares of the semiconductor manufacturer’s stock after selling 147 shares during the quarter. Sentry Investment Management LLC’s holdings in Micron Technology were worth $528,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of MU. Fortis Capital Advisors LLC purchased a new stake in Micron Technology during the 4th quarter valued at approximately $25,000. OFI Invest Asset Management acquired a new stake in Micron Technology during the 3rd quarter worth approximately $27,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Micron Technology during the 3rd quarter worth approximately $28,000. Coppell Advisory Solutions LLC acquired a new stake in Micron Technology during the 2nd quarter worth approximately $32,000. Finally, VisionPoint Advisory Group LLC lifted its position in Micron Technology by 68.3% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock worth $33,000 after acquiring an additional 198 shares during the period. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Stock Down 0.9 %

NASDAQ:MU opened at $121.37 on Tuesday. 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 has a 50 day moving average of $100.62 and a 200-day moving average of $85.63. Micron Technology, Inc. has a 52 week low of $58.03 and a 52 week high of $130.54.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.69. The firm 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 firm’s revenue for the quarter was up 57.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($2.03) earnings per share. Sell-side analysts expect that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st will be paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.38%. The ex-dividend date is Thursday, March 28th. Micron Technology’s dividend payout ratio (DPR) is currently -13.33%.

Insider Buying and Selling at Micron Technology

In other news, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $83.20, for a total value of $582,400.00. Following the transaction, the chief executive officer now directly owns 642,251 shares of the company’s stock, valued at $53,435,283.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total transaction of $583,377.00. Following the transaction, the executive vice president now directly owns 148,817 shares of the company’s stock, valued at $17,753,868.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $83.20, for a total transaction of $582,400.00. Following the transaction, the chief executive officer now directly owns 642,251 shares in the company, valued at $53,435,283.20. The disclosure for this sale can be found here. Insiders have sold a total of 313,890 shares of company stock valued at $33,354,527 in the last three months. 0.32% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

MU has been the subject of several recent analyst reports. The Goldman Sachs Group raised their price target on Micron Technology from $85.00 to $97.00 and gave the company a “buy” rating in a report on Thursday, December 21st. Raymond James raised their price target on Micron Technology from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, January 19th. Argus raised Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 price target for the company in a report on Thursday, March 21st. StockNews.com raised Micron Technology from a “sell” rating to a “hold” rating in a research note on Friday, March 22nd. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Micron Technology from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, December 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $122.20.

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.