Handelsbanken Fonder AB Reduces Position in Micron Technology, Inc. (NASDAQ:MU)

Handelsbanken Fonder AB decreased its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 4.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 491,519 shares of the semiconductor manufacturer's stock after selling 23,353 shares during the period. Handelsbanken Fonder AB's holdings in Micron Technology were worth $42,708,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Sunbeam Capital Management LLC acquired a new position in Micron Technology during the 4th quarter worth about $26,000. 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 purchased a new stake in Micron Technology during the 4th quarter worth about $33,000. Comprehensive Financial Planning Inc. PA purchased a new stake in Micron Technology during the 4th quarter worth about $34,000. Finally, Curio Wealth LLC purchased a new stake in Micron Technology during the 4th quarter worth about $34,000. Institutional investors and hedge funds own 80.84% of the company's stock.

Insider Activity

In related 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 value of $1,442,700.00. Following the completion of the transaction, the executive vice president now directly owns 164,769 shares of the company's stock, valued at $15,847,482.42. This trade represents a 8.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Scott J. Deboer sold 20,000 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $110.00, for a total value of $2,200,000.00. Following the completion of the transaction, the executive vice president now directly owns 186,353 shares of the company's stock, valued at $20,498,830. The trade was a 9.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 44,904 shares of company stock valued at $4,665,124 in the last three months. 0.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on MU shares. Wells Fargo & Company restated an "equal weight" rating on shares of Micron Technology in a report on Monday, April 28th. UBS Group upped their price target on Micron Technology from $92.00 to $120.00 and gave the stock a "buy" rating in a report on Thursday, June 5th. JPMorgan Chase & Co. cut their price target 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 cut their price target on Micron Technology from $115.00 to $95.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Finally, Citigroup upped their price target on Micron Technology from $110.00 to $130.00 and gave the stock a "buy" rating in a report on Monday. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $129.00.

Micron Technology Stock Performance

Micron Technology stock traded up $0.15 during mid-day trading on Thursday, reaching $116.18. 17,036,682 shares of the company were exchanged, compared to its average volume of 23,684,600. 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 firm's 50-day simple moving average is $87.20 and its two-hundred day simple moving average is $92.51. The firm has a market cap of $129.84 billion, a PE ratio of 33.48 and a beta of 1.28. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $157.54.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly 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. The business had revenue of $8.05 billion during the quarter, compared to analysts' expectations of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company's quarterly revenue was up 38.2% compared to the same quarter last year. During the same period last year, the firm earned $0.42 EPS. Equities analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm 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. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.46 annualized dividend and a dividend yield of 0.40%. Micron Technology's dividend payout ratio is currently 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.