Graham Capital Management L.P. Lowers Position in Micron Technology, Inc. (NASDAQ:MU)

Graham Capital Management L.P. trimmed its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 12.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 109,537 shares of the semiconductor manufacturer’s stock after selling 15,278 shares during the period. Graham Capital Management L.P.’s holdings in Micron Technology were worth $9,219,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Micron Technology in the 4th quarter worth about $1,470,875,000. Capital World Investors grew its position in Micron Technology by 63.7% in the fourth quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer’s stock worth $3,458,673,000 after acquiring an additional 15,993,036 shares in the last quarter. FMR LLC increased its stake in Micron Technology by 34.6% during the fourth quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer’s stock worth $4,012,114,000 after acquiring an additional 12,249,341 shares during the last quarter. Capital Research Global Investors raised its position in Micron Technology by 139.7% during the fourth quarter. Capital Research Global Investors now owns 16,281,620 shares of the semiconductor manufacturer’s stock valued at $1,370,280,000 after purchasing an additional 9,489,579 shares during the period. Finally, Capital International Investors lifted its stake in shares of Micron Technology by 36.3% in the 4th quarter. Capital International Investors now owns 16,437,080 shares of the semiconductor manufacturer’s stock valued at $1,383,442,000 after purchasing an additional 4,375,232 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Stock Up 0.8 %

Shares of Micron Technology stock opened at $85.86 on Friday. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The company has a market cap of $95.95 billion, a P/E ratio of 24.74 and a beta of 1.21. The firm’s 50 day moving average price is $82.62 and its 200-day moving average price is $93.07. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $157.54.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.13. The business had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business’s revenue for the quarter was up 38.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.42 earnings per share. On average, sell-side analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.54%. The ex-dividend date was Monday, March 31st. Micron Technology’s payout ratio is currently 11.03%.

Insider Buying and Selling

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $80.00, for a total transaction of $192,320.00. Following the completion of the sale, the director now owns 24,954 shares of the company’s stock, valued at approximately $1,996,320. The trade was a 8.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP April S. Arnzen sold 15,000 shares of the business’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the sale, the executive vice president now owns 164,769 shares in the company, valued at approximately $15,847,482.42. The trade was a 8.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,808 shares of company stock worth $1,858,424 in the last three months. Corporate insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their price target on Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research report on Friday, March 21st. Barclays lowered their target price on shares of Micron Technology from $115.00 to $95.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. China Renaissance downgraded shares of Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 price target on the stock. in a report on Wednesday, March 26th. Royal Bank of Canada set a $125.00 price objective on shares of Micron Technology in a research note on Wednesday, March 19th. Finally, UBS Group cut their target price on Micron Technology from $130.00 to $92.00 and set a “buy” rating on the stock in a research note on Monday, April 28th. Two analysts have rated the stock with a sell rating, four have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $126.48.

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.