Centaurus Financial Inc. Boosts Holdings in Micron Technology, Inc. (NASDAQ:MU)

Centaurus Financial Inc. increased its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 52.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 44,357 shares of the semiconductor manufacturer's stock after purchasing an additional 15,216 shares during the period. Centaurus Financial Inc.'s holdings in Micron Technology were worth $3,733,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Micron Technology during the fourth quarter valued at approximately $1,470,875,000. Capital World Investors raised its holdings in shares of Micron Technology by 63.7% during the fourth quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer's stock valued at $3,458,673,000 after buying an additional 15,993,036 shares during the last quarter. FMR LLC raised its holdings in shares of Micron Technology by 34.6% during the fourth quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer's stock valued at $4,012,114,000 after buying an additional 12,249,341 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of Micron Technology by 139.7% during the fourth quarter. Capital Research Global Investors now owns 16,281,620 shares of the semiconductor manufacturer's stock valued at $1,370,280,000 after buying an additional 9,489,579 shares during the last quarter. Finally, Capital International Investors raised its holdings in shares of Micron Technology by 36.3% during the fourth quarter. Capital International Investors now owns 16,437,080 shares of the semiconductor manufacturer's stock valued at $1,383,442,000 after buying an additional 4,375,232 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling 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 transaction, the executive vice president now owns 164,769 shares in the company, valued at $15,847,482.42. The trade was a 8.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $80.00, for a total transaction of $192,320.00. Following the transaction, the director now owns 24,954 shares in the company, valued at $1,996,320. This represents a 8.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,808 shares of company stock valued at $1,858,424 in the last three months. 0.30% of the stock is currently owned by company insiders.

Micron Technology Price Performance

Micron Technology stock traded down $2.38 during trading hours on Friday, hitting $94.42. 23,746,837 shares of the stock were exchanged, compared to its average volume of 23,536,862. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The stock has a market capitalization of $105.52 billion, a P/E 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. The business's 50-day moving average is $82.55 and its two-hundred day moving average is $91.98.

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

Micron Technology Announces Dividend

The company 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 0.49%. Micron Technology's dividend payout ratio (DPR) is currently 11.03%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Rosenblatt Securities cut their price target on Micron Technology from $250.00 to $200.00 and set a "buy" rating on the stock in a report on Friday, March 21st. JPMorgan Chase & Co. dropped their target price on Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a report on Friday, March 21st. Barclays dropped their target price on Micron Technology from $115.00 to $95.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Wedbush reissued an "underperform" rating on shares of Micron Technology in a report on Monday, April 28th. Finally, Wells Fargo & Company reissued an "equal weight" rating on shares of Micron Technology in a report on Monday, April 28th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $126.48.

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.