Boston Common Asset Management LLC Trims Stake in Micron Technology, Inc. (NASDAQ:MU)

Boston Common Asset Management LLC lessened its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 3.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 178,190 shares of the semiconductor manufacturer's stock after selling 7,215 shares during the quarter. Boston Common Asset Management LLC's holdings in Micron Technology were worth $15,483,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Marcum Wealth LLC lifted its position in Micron Technology by 4.0% in the 1st quarter. Marcum Wealth LLC now owns 5,119 shares of the semiconductor manufacturer's stock worth $445,000 after buying an additional 198 shares during the last quarter. Centre Asset Management LLC bought a new stake in Micron Technology in the 1st quarter worth approximately $7,720,000. MassMutual Private Wealth & Trust FSB lifted its position in Micron Technology by 5.7% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 4,029 shares of the semiconductor manufacturer's stock worth $350,000 after buying an additional 219 shares during the last quarter. Fairtree Asset Management Pty Ltd bought a new stake in Micron Technology in the 4th quarter worth approximately $554,000. Finally, Wealth Enhancement Advisory Services LLC lifted its position in Micron Technology by 10.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 350,612 shares of the semiconductor manufacturer's stock worth $29,507,000 after buying an additional 32,502 shares during the last quarter. Institutional investors own 80.84% of the company's stock.

Insider Activity at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the director now directly 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP April S. Arnzen sold 15,000 shares of the firm'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 completion of the sale, the executive vice president now directly 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 disclosure for this sale can be found here. Over the last three months, insiders sold 19,808 shares of company stock valued at $1,858,424. Insiders own 0.30% of the company's stock.

Micron Technology Stock Performance

Micron Technology stock traded down $2.38 during mid-day trading on Friday, reaching $94.42. 23,746,837 shares of the stock traded hands, compared to its average volume of 23,536,862. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The business's 50-day moving average is $82.55 and its 200-day moving average is $91.98. The stock has a market capitalization of $105.52 billion, a PE ratio of 27.21 and a beta of 1.21. 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 issued its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping 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 business had revenue of $8.05 billion during the quarter, compared to analysts' expectations of $7.93 billion. During the same quarter in the prior year, the business posted $0.42 earnings per share. The business's quarterly revenue was up 38.2% on a year-over-year basis. As a group, sell-side analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology's payout ratio is presently 11.03%.

Analyst Upgrades and Downgrades

MU has been the subject of a number of recent research reports. Wall Street Zen downgraded Micron Technology from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. UBS Group decreased their price target on Micron Technology from $130.00 to $92.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. Royal Bank of Canada set a $125.00 price target on Micron Technology in a research note on Wednesday, March 19th. China Renaissance cut Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price target on the stock. in a research note on Wednesday, March 26th. Finally, Morgan Stanley reduced their target price on 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. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $126.48.

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.