Ensign Peak Advisors Inc Sells 45,195 Shares of Micron Technology, Inc. (NASDAQ:MU)

Ensign Peak Advisors Inc lowered its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 7.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 523,857 shares of the semiconductor manufacturer's stock after selling 45,195 shares during the period. Ensign Peak Advisors Inc's holdings in Micron Technology were worth $44,088,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of MU. Beacon Capital Management LLC increased its holdings in Micron Technology by 114.9% during the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock worth $31,000 after purchasing an additional 200 shares during the period. Midwest Capital Advisors LLC acquired a new stake in shares of Micron Technology in the 4th quarter worth $33,000. Activest Wealth Management boosted its position in shares of Micron Technology by 583.3% in the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer's stock worth $34,000 after purchasing an additional 350 shares in the last quarter. Comprehensive Financial Planning Inc. PA acquired a new stake in Micron Technology during the 4th quarter worth about $34,000. Finally, Curio Wealth LLC acquired a new stake in Micron Technology during the 4th quarter worth about $34,000. Institutional investors own 80.84% of the company's stock.

Micron Technology Price Performance

NASDAQ:MU traded up $4.64 on Tuesday, reaching $96.93. The stock had a trading volume of 27,913,910 shares, compared to its average volume of 23,361,915. The company has a market capitalization of $108.33 billion, a P/E ratio of 27.93 and a beta of 1.21. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $157.54. 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 stock has a fifty day moving average price of $82.58 and a 200-day moving average price of $92.78.

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

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology's dividend payout ratio (DPR) is presently 11.03%.

Analyst Upgrades and Downgrades

MU has been the subject of several analyst reports. Morgan Stanley decreased their price objective on Micron Technology from $112.00 to $98.00 and set an "equal weight" rating for the company in a report on Wednesday, May 7th. Robert W. Baird upped their price target on Micron Technology from $130.00 to $163.00 and gave the company an "outperform" rating in a research report on Friday, March 21st. Wedbush restated an "underperform" rating on shares of Micron Technology in a research report on Monday, April 28th. China Renaissance cut Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price objective on the stock. in a report on Wednesday, March 26th. Finally, Royal Bank of Canada set a $125.00 price target on Micron Technology in a research note on Wednesday, March 19th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $126.48.

Insider Activity

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $80.00, for a total transaction of $192,320.00. Following the completion of the transaction, the director now owns 24,954 shares in the company, valued at approximately $1,996,320. This represents a 8.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 19,808 shares of company stock worth $1,858,424 over the last quarter. 0.30% of the stock is currently owned by company insiders.

About Micron Technology

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.