Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Metis Global Partners LLC

Metis Global Partners LLC reduced its holdings in Micron Technology, Inc. (NASDAQ:MU) by 8.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,499 shares of the semiconductor manufacturer’s stock after selling 4,019 shares during the quarter. Metis Global Partners LLC’s holdings in Micron Technology were worth $3,542,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of MU. FMR LLC raised its stake in shares of Micron Technology by 47.9% during the 3rd quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer’s stock worth $1,489,801,000 after buying an additional 7,089,790 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Micron Technology by 43.4% in the third quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock valued at $1,182,608,000 after purchasing an additional 5,257,201 shares during the last quarter. Morgan Stanley raised its position in shares of Micron Technology by 19.7% during the 3rd quarter. Morgan Stanley now owns 17,303,400 shares of the semiconductor manufacturer’s stock worth $1,177,151,000 after purchasing an additional 2,852,688 shares during the last quarter. California Public Employees Retirement System raised its position in shares of Micron Technology by 125.0% during the 4th quarter. California Public Employees Retirement System now owns 4,541,662 shares of the semiconductor manufacturer’s stock worth $387,585,000 after purchasing an additional 2,523,267 shares during the last quarter. Finally, Phoenix Holdings Ltd. grew its holdings in Micron Technology by 8,336.6% during the 3rd quarter. Phoenix Holdings Ltd. now owns 1,732,231 shares of the semiconductor manufacturer’s stock valued at $117,762,000 after buying an additional 1,753,262 shares during the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Stock Up 4.7 %

Micron Technology stock traded up $5.43 during trading hours on Monday, hitting $120.13. The company had a trading volume of 22,502,885 shares, compared to its average volume of 20,283,590. Micron Technology, Inc. has a fifty-two week low of $59.55 and a fifty-two week high of $130.54. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. The firm has a market capitalization of $132.62 billion, a P/E ratio of -34.65 and a beta of 1.27. The firm’s fifty day moving average is $108.95 and its 200-day moving average is $89.96.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The company had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same period in the prior year, the firm posted ($2.03) EPS. The business’s revenue was up 57.7% compared to the same quarter last year. On average, research analysts forecast that Micron Technology, Inc. will post 0.24 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a yield of 0.38%. Micron Technology’s payout ratio is currently -13.33%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MU. Wells Fargo & Company upped their price target on shares of Micron Technology from $125.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. Barclays raised their price target on shares of Micron Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a report on Monday, March 18th. Robert W. Baird upgraded shares of Micron Technology from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $115.00 to $150.00 in a report on Monday. KeyCorp increased their price target on Micron Technology from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Finally, Citigroup restated a “buy” rating and set a $150.00 price objective on shares of Micron Technology in a research note on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat, Micron Technology presently has an average rating of “Moderate Buy” and a consensus target price of $123.60.

Insider Buying and Selling at Micron Technology

In other news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $84.84, for a total value of $593,880.00. Following the sale, the chief executive officer now directly owns 788,557 shares of the company’s stock, valued at $66,901,175.88. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $84.84, for a total transaction of $593,880.00. Following the completion of the transaction, the chief executive officer now directly owns 788,557 shares in the company, valued at approximately $66,901,175.88. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Scott J. Deboer sold 40,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $110.31, for a total transaction of $4,412,400.00. Following the completion of the sale, the executive vice president now owns 158,617 shares in the company, valued at $17,497,041.27. The disclosure for this sale can be found here. Insiders have sold a total of 323,890 shares of company stock worth $36,079,267 over the last 90 days. Insiders own 0.32% of the company’s stock.

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.