Axa S.A. Sells 76,650 Shares of Micron Technology, Inc. (NASDAQ:MU)

Axa S.A. trimmed its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 14.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 444,288 shares of the semiconductor manufacturer's stock after selling 76,650 shares during the period. Axa S.A.'s holdings in Micron Technology were worth $37,391,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of MU. Beacon Capital Management LLC grew its holdings in shares of Micron Technology by 114.9% in the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock valued at $31,000 after acquiring an additional 200 shares in the last quarter. Midwest Capital Advisors LLC bought a new position in Micron Technology in the fourth quarter valued at approximately $33,000. Activest Wealth Management grew its stake in Micron Technology by 583.3% in the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer's stock valued at $34,000 after purchasing an additional 350 shares in the last quarter. Comprehensive Financial Planning Inc. PA bought a new stake in shares of Micron Technology during the 4th quarter worth approximately $34,000. Finally, Curio Wealth LLC bought a new stake in shares of Micron Technology during the 4th quarter worth approximately $34,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Morgan Stanley boosted their target price on shares of Micron Technology from $91.00 to $112.00 and gave the stock an "equal weight" rating in a report on Friday, March 21st. China Renaissance cut shares of Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 target price on the stock. in a report on Wednesday, March 26th. Citigroup reduced their price target on Micron Technology from $120.00 to $110.00 and set a "buy" rating for the company in a report on Friday, April 11th. Wedbush restated an "underperform" rating on shares of Micron Technology in a research note on Monday, April 28th. Finally, Barclays cut their price objective on Micron Technology from $115.00 to $95.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $127.04.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $80.72 on Friday. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $90.21 billion, a PE ratio of 23.26 and a beta of 1.18. The firm has a 50 day moving average of $83.63 and a 200-day moving average of $93.90. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $157.54.

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

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.57%. Micron Technology's payout ratio is presently 11.03%.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 15,000 shares of the business's stock in a transaction on 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 of the company's stock, valued at $15,847,482.42. The trade was a 8.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the transaction, the director now directly owns 27,358 shares of the company's stock, valued at approximately $2,542,378.94. This represents a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.

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