Boston Common Asset Management LLC Sells 55,480 Shares of Micron Technology, Inc. (NASDAQ:MU)

Boston Common Asset Management LLC cut its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 23.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 185,405 shares of the semiconductor manufacturer’s stock after selling 55,480 shares during the quarter. Boston Common Asset Management LLC’s holdings in Micron Technology were worth $15,604,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Harmony Asset Management LLC grew its stake in shares of Micron Technology by 75.6% during the third quarter. Harmony Asset Management LLC now owns 11,889 shares of the semiconductor manufacturer’s stock valued at $1,233,000 after buying an additional 5,120 shares during the last quarter. Lazard Freres Gestion S.A.S. grew its position in Micron Technology by 241.7% during the 3rd quarter. Lazard Freres Gestion S.A.S. now owns 41,000 shares of the semiconductor manufacturer’s stock worth $4,252,000 after acquiring an additional 29,000 shares during the last quarter. Chartwell Investment Partners LLC increased its stake in Micron Technology by 26.4% in the 3rd quarter. Chartwell Investment Partners LLC now owns 195,115 shares of the semiconductor manufacturer’s stock worth $20,236,000 after purchasing an additional 40,802 shares during the period. State Street Corp lifted its position in Micron Technology by 3.1% in the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock valued at $5,001,592,000 after purchasing an additional 1,434,568 shares during the last quarter. Finally, Global X Japan Co. Ltd. boosted its stake in shares of Micron Technology by 23.1% during the third quarter. Global X Japan Co. Ltd. now owns 51,832 shares of the semiconductor manufacturer’s stock valued at $5,375,000 after purchasing an additional 9,735 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MU has been the subject of several analyst reports. China Renaissance initiated coverage on shares of Micron Technology in a research report on Monday, October 28th. They set a “buy” rating and a $148.00 price target for the company. JPMorgan Chase & Co. cut their target price on Micron Technology from $180.00 to $145.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Stifel Nicolaus lowered their price target 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. Bank of America cut Micron Technology from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $125.00 to $110.00 in a report on Thursday, December 19th. Finally, Raymond James boosted their target price on Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $135.24.

Micron Technology Stock Up 0.8 %

Shares of NASDAQ MU traded up $0.81 during midday trading on Friday, hitting $103.41. The stock had a trading volume of 3,088,309 shares, compared to its average volume of 24,792,750. The company has a market cap of $115.21 billion, a P/E ratio of 29.80 and a beta of 1.18. 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 business’s 50 day moving average is $98.21 and its 200-day moving average is $102.66. Micron Technology, Inc. has a 52 week low of $79.15 and a 52 week high of $157.54.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating the consensus estimate of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.71 billion. During the same period last year, the business posted ($0.95) EPS. The company’s revenue was up 84.3% compared to the same quarter last year. As a group, analysts predict that Micron Technology, Inc. will post 6.25 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s dividend payout ratio (DPR) is 13.26%.

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the transaction, the executive vice president now directly owns 181,223 shares in the company, valued at $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 is available at this link. Company insiders own 0.30% of the company’s stock.

Micron Technology Company 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.