Micron Technology, Inc. (NASDAQ:MU) Shares Acquired by Ethic Inc.

Ethic Inc. raised its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 12.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 162,039 shares of the semiconductor manufacturer's stock after acquiring an additional 18,400 shares during the quarter. Ethic Inc.'s holdings in Micron Technology were worth $13,637,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in MU. E Fund Management Co. Ltd. raised 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 purchasing an additional 8,780 shares during the period. CIBC Private Wealth Group LLC raised its position in shares of Micron Technology by 43.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 14,178 shares of the semiconductor manufacturer's stock valued at $1,193,000 after purchasing an additional 4,264 shares during the period. Stablepoint Partners LLC bought a new position in shares of Micron Technology in the fourth quarter valued at about $569,000. Landscape Capital Management L.L.C. increased its position in Micron Technology by 167.0% during the fourth quarter. Landscape Capital Management L.L.C. now owns 45,758 shares of the semiconductor manufacturer's stock worth $3,851,000 after acquiring an additional 28,621 shares during the period. Finally, Duquesne Family Office LLC bought a new position in Micron Technology during the fourth quarter worth about $34,412,000. Institutional investors and hedge funds own 80.84% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on MU shares. Morgan Stanley reduced their price objective on shares of Micron Technology from $112.00 to $98.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 7th. Rosenblatt Securities lowered their price objective on shares of Micron Technology from $250.00 to $200.00 and set a "buy" rating for the company in a research note on Friday, March 21st. Robert W. Baird boosted their price target on shares of Micron Technology from $130.00 to $163.00 and gave the company an "outperform" rating in a research note on Friday, March 21st. JPMorgan Chase & Co. cut their price objective on shares of Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a report on Friday, March 21st. Finally, Wedbush reaffirmed an "underperform" rating on shares of Micron Technology in a report on Monday, April 28th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Micron Technology has an average rating of "Moderate Buy" and an average price target of $126.48.

Micron Technology Stock Performance

Shares of Micron Technology stock traded up $6.43 on Monday, hitting $92.29. The stock had a trading volume of 27,727,572 shares, compared to its average volume of 23,852,514. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $157.54. 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 cap of $103.14 billion, a price-to-earnings ratio of 26.60 and a beta of 1.21. The company's 50 day moving average price is $82.62 and its 200 day moving average price is $92.89.

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, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $7.93 billion. During the same period in the previous year, the business earned $0.42 earnings per share. The company's revenue for the quarter was up 38.2% compared to the same quarter last year. On average, research analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.115 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.46 annualized dividend and a yield of 0.50%. Micron Technology's payout ratio is currently 11.03%.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 164,769 shares in the company, valued at $15,847,482.42. This trade represents a 8.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $80.00, for a total value of $192,320.00. Following the sale, the director now owns 24,954 shares of the company's stock, valued at approximately $1,996,320. This trade represents a 8.79% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,808 shares of company stock worth $1,858,424. 0.30% of the stock is currently owned by insiders.

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.