Micron Technology, Inc. (NASDAQ:MU) Shares Sold by QV Investors Inc.

QV Investors Inc. cut its holdings in Micron Technology, Inc. (NASDAQ:MU) by 2.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,950 shares of the semiconductor manufacturer’s stock after selling 270 shares during the quarter. QV Investors Inc.’s holdings in Micron Technology were worth $1,090,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Highline Wealth Partners LLC purchased a new position in shares of Micron Technology during the third quarter valued at $26,000. Davis Capital Management purchased a new position in Micron Technology during the 3rd quarter valued at about $30,000. True Wealth Design LLC increased its holdings in shares of Micron Technology by 1,096.3% in the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after purchasing an additional 296 shares during the period. DT Investment Partners LLC lifted its position in shares of Micron Technology by 261.1% in the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 235 shares in the last quarter. Finally, Stone House Investment Management LLC boosted its holdings in shares of Micron Technology by 602.2% during the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 277 shares during the period. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Stock Down 4.3 %

Shares of NASDAQ:MU traded down $4.26 during midday trading on Monday, reaching $95.08. The company had a trading volume of 15,517,741 shares, compared to its average volume of 28,830,326. Micron Technology, Inc. has a 1-year low of $79.15 and a 1-year high of $157.54. The stock has a market cap of $105.92 billion, a PE ratio of 139.83 and a beta of 1.16. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. The business’s 50 day moving average price is $98.68 and its 200 day moving average price is $103.15.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. The company had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.71 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The business’s revenue was up 84.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.95) EPS. Research analysts forecast that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th will be issued a $0.115 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.48%. Micron Technology’s payout ratio is 67.65%.

Wall Street Analyst Weigh In

MU has been the subject of a number of recent research reports. JPMorgan Chase & Co. decreased their price objective on shares of Micron Technology from $180.00 to $145.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. China Renaissance began coverage on Micron Technology in a report on Monday, October 28th. They set a “buy” rating and a $148.00 price objective on the stock. Stifel Nicolaus decreased their target price on Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Wells Fargo & Company dropped their price target on shares of Micron Technology from $175.00 to $140.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Finally, Raymond James raised their target price on shares of Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat, Micron Technology presently has a consensus rating of “Moderate Buy” and an average target price of $135.24.

Insider Activity at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the completion of the sale, the executive vice president now owns 181,223 shares in the company, valued at approximately $15,442,011.83. This trade represents a 2.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.30% of the stock is currently owned by company insiders.

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.