Micron Technology, Inc. (NASDAQ:MU) Stake Lowered by MUFG Securities EMEA plc

MUFG Securities EMEA plc trimmed its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 66.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,174 shares of the semiconductor manufacturer’s stock after selling 12,019 shares during the period. MUFG Securities EMEA plc’s holdings in Micron Technology were worth $527,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Empower Advisory Group LLC grew its position in Micron Technology by 4.1% in the third quarter. Empower Advisory Group LLC now owns 4,935 shares of the semiconductor manufacturer’s stock worth $336,000 after acquiring an additional 194 shares in the last quarter. Lincoln National Corp raised its holdings in Micron Technology by 8.6% during the third quarter. Lincoln National Corp now owns 7,111 shares of the semiconductor manufacturer’s stock valued at $484,000 after buying an additional 563 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Micron Technology by 4.4% during the third quarter. Victory Capital Management Inc. now owns 942,648 shares of the semiconductor manufacturer’s stock valued at $64,128,000 after buying an additional 39,769 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Micron Technology by 1.7% in the third quarter. Assenagon Asset Management S.A. now owns 57,852 shares of the semiconductor manufacturer’s stock worth $3,936,000 after buying an additional 976 shares during the last quarter. Finally, Childress Capital Advisors LLC bought a new stake in shares of Micron Technology during the 3rd quarter worth about $220,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 45,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $130.00, for a total value of $5,850,000.00. Following the transaction, the chief executive officer now directly owns 728,557 shares of the company’s stock, valued at $94,712,410. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, SVP Michael W. Bokan sold 15,000 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $123.42, for a total value of $1,851,300.00. Following the completion of the sale, the senior vice president now directly owns 138,387 shares of the company’s stock, valued at approximately $17,079,723.54. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sanjay Mehrotra sold 45,000 shares of the stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $130.00, for a total transaction of $5,850,000.00. Following the completion of the sale, the chief executive officer now owns 728,557 shares in the company, valued at $94,712,410. The disclosure for this sale can be found here. In the last three months, insiders have sold 417,446 shares of company stock worth $48,198,323. Company insiders own 0.32% of the company’s stock.

Micron Technology Price Performance

MU traded up $3.22 during trading on Friday, hitting $129.49. The company’s stock had a trading volume of 14,048,894 shares, compared to its average volume of 15,508,568. 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 market capitalization of $143.39 billion, a price-to-earnings ratio of -37.53 and a beta of 1.27. The firm’s 50 day moving average price is $118.05 and its two-hundred day moving average price is $95.68. Micron Technology, Inc. has a 12 month low of $60.50 and a 12 month high of $131.95.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.69. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The firm had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.35 billion. During the same quarter last year, the company posted ($2.03) EPS. The company’s quarterly revenue was up 57.7% compared to the same quarter last year. Sell-side analysts forecast that Micron Technology, Inc. will post 0.29 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm 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 was Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a yield of 0.36%. Micron Technology’s payout ratio is presently -13.33%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on MU shares. Citigroup restated a “buy” rating and issued a $150.00 price objective on shares of Micron Technology in a research note on Thursday, April 4th. Wells Fargo & Company upped their price target on shares of Micron Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. Stifel Nicolaus reiterated a “buy” rating and issued a $140.00 price objective on shares of Micron Technology in a research note on Friday, April 12th. Wedbush increased their target price on Micron Technology from $103.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, March 21st. Finally, KeyCorp lifted their price target on Micron Technology from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Two research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat.com, Micron Technology presently has a consensus rating of “Moderate Buy” and an average price target of $126.92.

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.