Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Swedbank AB

Swedbank AB lowered its position in Micron Technology, Inc. (NASDAQ:MU) by 0.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,449,556 shares of the semiconductor manufacturer’s stock after selling 6,263 shares during the quarter. Swedbank AB’s holdings in Micron Technology were worth $290,315,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MU. Ascent Group LLC increased its position in shares of Micron Technology by 4.2% during the second quarter. Ascent Group LLC now owns 3,306 shares of the semiconductor manufacturer’s stock worth $435,000 after acquiring an additional 133 shares during the last quarter. Creative Planning grew its position in shares of Micron Technology by 12.4% during the 2nd quarter. Creative Planning now owns 149,606 shares of the semiconductor manufacturer’s stock valued at $19,678,000 after buying an additional 16,463 shares during the last quarter. Quarry LP raised its position in shares of Micron Technology by 130.5% during the 2nd quarter. Quarry LP now owns 604 shares of the semiconductor manufacturer’s stock worth $79,000 after purchasing an additional 342 shares during the period. B. Riley Wealth Advisors Inc. lifted its stake in Micron Technology by 4.3% in the second quarter. B. Riley Wealth Advisors Inc. now owns 28,124 shares of the semiconductor manufacturer’s stock valued at $3,699,000 after buying an additional 1,160 shares during the last quarter. Finally, EP Wealth Advisors LLC boosted its stake in Micron Technology by 43.1% during the 2nd quarter. EP Wealth Advisors LLC now owns 16,686 shares of the semiconductor manufacturer’s stock valued at $2,195,000 after purchasing an additional 5,024 shares during the period. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Trading Up 0.7 %

Shares of MU traded up $0.62 during trading hours on Wednesday, reaching $88.87. 4,426,856 shares of the company traded hands, compared to its average volume of 25,768,494. The company has a market capitalization of $99.01 billion, a price-to-earnings ratio of 25.65 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 company’s fifty day moving average price is $98.04 and its two-hundred day moving average price is $100.48. Micron Technology, Inc. has a 12 month low of $79.15 and a 12 month high of $157.54.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.71 billion. During the same quarter last year, the company posted ($0.95) earnings per share. The firm’s quarterly revenue was up 84.3% on a year-over-year basis. Equities research analysts predict that Micron Technology, Inc. will post 6.29 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were given a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.52%. The ex-dividend date was Monday, December 30th. Micron Technology’s dividend payout ratio is presently 13.26%.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the 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 directly owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MU. Rosenblatt Securities reissued a “buy” rating and set a $250.00 price target on shares of Micron Technology in a report on Wednesday, December 18th. Sanford C. Bernstein decreased their price objective on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. Barclays dropped their target price on Micron Technology from $145.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday, December 20th. The Goldman Sachs Group lowered their price target on Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Finally, Mizuho cut their price objective on Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.96.

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.