Tredje AP fonden Sells 373,231 Shares of Micron Technology, Inc. (NASDAQ:MU)

Tredje AP fonden reduced its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 51.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 356,066 shares of the semiconductor manufacturer’s stock after selling 373,231 shares during the quarter. Tredje AP fonden’s holdings in Micron Technology were worth $29,967,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Harmony Asset Management LLC raised its stake in shares of Micron Technology by 75.6% in 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 period. Lazard Freres Gestion S.A.S. raised its stake in shares of Micron Technology by 241.7% in the third quarter. Lazard Freres Gestion S.A.S. now owns 41,000 shares of the semiconductor manufacturer’s stock valued at $4,252,000 after buying an additional 29,000 shares during the period. E Fund Management Co. Ltd. raised its stake in shares of Micron Technology by 31.8% in the fourth quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer’s stock valued at $3,062,000 after buying an additional 8,780 shares during the period. Stablepoint Partners LLC bought a new stake in shares of Micron Technology in the fourth quarter valued at $569,000. Finally, State Street Corp raised its stake in shares of 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 buying an additional 1,434,568 shares during the period. 80.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MU. Cantor Fitzgerald lowered their target price on Micron Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Stifel Nicolaus lowered their target price on Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Needham & Company LLC lowered their target price on Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Barclays lowered their target price on Micron Technology from $145.00 to $110.00 and set an “overweight” rating on the stock in a research note on Friday, December 20th. Finally, Morgan Stanley reduced their price target on Micron Technology from $98.00 to $91.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Micron Technology has a consensus rating of “Moderate Buy” and a consensus price target of $134.96.

Micron Technology Trading Up 7.4 %

Shares of MU stock opened at $95.64 on Thursday. 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 has a 50-day moving average price of $96.35 and a two-hundred day moving average price of $98.06. Micron Technology, Inc. has a 12-month low of $83.54 and a 12-month high of $157.54. The firm has a market cap of $106.56 billion, a P/E ratio of 27.56 and a beta of 1.23.

Micron Technology (NASDAQ:MU) last issued its quarterly 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 return on equity of 8.32% and a net margin of 13.34%. The firm had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.71 billion. During the same quarter in the previous year, the company posted ($0.95) earnings per share. The company’s revenue was up 84.3% compared to the same quarter last year. Equities analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.48%. The ex-dividend date was Monday, December 30th. Micron Technology’s dividend payout ratio (DPR) is currently 13.26%.

Insiders Place Their Bets

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the completion of the sale, the director now owns 27,358 shares of the company’s stock, valued at approximately $2,542,378.94. The trade was a 8.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $85.21, for a total value 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 trade represents a 2.63 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

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.