Micron Technology, Inc. (NASDAQ:MU) Position Cut by Bulltick Wealth Management LLC

Bulltick Wealth Management LLC cut its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 60.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,000 shares of the semiconductor manufacturer's stock after selling 6,000 shares during the period. Bulltick Wealth Management LLC's holdings in Micron Technology were worth $338,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the company. E Fund Management Co. Ltd. lifted its position 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 acquiring an additional 8,780 shares in the last quarter. CIBC Private Wealth Group LLC lifted its holdings in Micron Technology by 43.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 14,178 shares of the semiconductor manufacturer's stock worth $1,193,000 after purchasing an additional 4,264 shares in the last quarter. Stablepoint Partners LLC bought a new position in Micron Technology in the 4th quarter worth approximately $569,000. Landscape Capital Management L.L.C. grew its holdings in Micron Technology by 167.0% during the 4th quarter. Landscape Capital Management L.L.C. now owns 45,758 shares of the semiconductor manufacturer's stock valued at $3,851,000 after buying an additional 28,621 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH raised its position in shares of Micron Technology by 11.7% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 502,374 shares of the semiconductor manufacturer's stock valued at $42,280,000 after buying an additional 52,729 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on MU shares. Rosenblatt Securities decreased their price target on shares of Micron Technology from $250.00 to $200.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. Wedbush reaffirmed an "underperform" rating on shares of Micron Technology in a report on Monday, April 28th. UBS Group lowered their target price on Micron Technology from $130.00 to $92.00 and set a "buy" rating for the company in a research report on Monday, April 28th. Citigroup dropped their price objective on shares of Micron Technology from $120.00 to $110.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Finally, KGI Securities upgraded Micron Technology to a "strong-buy" rating in a research report on Friday, February 21st. Two research analysts have rated the stock with a sell rating, four have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $127.04.

Insiders Place Their Bets

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the transaction, the director now owns 27,358 shares of the company's stock, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction that occurred 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 directly owns 164,769 shares in the company, valued at approximately $15,847,482.42. This represents a 8.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,808 shares of company stock worth $1,858,424 over the last quarter. 0.30% of the stock is owned by corporate insiders.

Micron Technology Trading Up 0.2 %

Micron Technology stock traded up $0.18 during trading on Tuesday, hitting $80.60. The company's stock had a trading volume of 13,028,297 shares, compared to its average volume of 23,245,744. The stock's fifty day moving average is $83.06 and its 200 day moving average is $93.46. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $157.54. The stock has a market capitalization of $90.08 billion, a price-to-earnings ratio of 23.23 and a beta of 1.21.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.43 by $0.13. The firm had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. Micron Technology's revenue was up 38.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.42 earnings per share. As a group, equities research analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

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

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.