Highland Capital Management LLC Sells 11,283 Shares of Micron Technology, Inc. (NASDAQ:MU)

Highland Capital Management LLC lowered its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 5.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 181,705 shares of the semiconductor manufacturer's stock after selling 11,283 shares during the period. Micron Technology accounts for approximately 0.9% of Highland Capital Management LLC's portfolio, making the stock its 19th largest position. Highland Capital Management LLC's holdings in Micron Technology were worth $15,788,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of MU. Vanguard Group Inc. lifted its position in shares of Micron Technology by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer's stock valued at $8,403,982,000 after acquiring an additional 888,087 shares during the period. FMR LLC increased its stake in Micron Technology by 34.6% in the fourth quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer's stock valued at $4,012,114,000 after purchasing an additional 12,249,341 shares in the last quarter. 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 purchasing an additional 15,993,036 shares during the period. Geode Capital Management LLC boosted its position in shares of Micron Technology by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 24,449,827 shares of the semiconductor manufacturer's stock worth $2,052,973,000 after purchasing an additional 726,282 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Micron Technology in the 4th quarter valued at about $1,470,875,000. 80.84% of the stock is owned by institutional investors.

Micron Technology Stock Performance

Shares of MU traded down $1.24 on Friday, reaching $124.76. 36,813,002 shares of the company's stock traded hands, compared to its average volume of 23,307,672. The company has a current ratio of 3.13, a quick ratio of 1.99 and a debt-to-equity ratio of 0.28. The stock has a market cap of $139.43 billion, a PE ratio of 22.48 and a beta of 1.28. The stock's 50 day simple moving average is $98.71 and its two-hundred day simple moving average is $94.18. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $137.13.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, beating analysts' consensus estimates of $1.57 by $0.34. The company had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $8.83 billion. Micron Technology had a return on equity of 13.88% and a net margin of 18.41%. During the same period last year, the business posted $0.62 earnings per share. On average, analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th will be paid a $0.115 dividend. The ex-dividend date of this dividend is Monday, July 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.37%. Micron Technology's payout ratio is presently 11.03%.

Insider Buying and Selling at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the business's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $80.00, for a total transaction of $192,320.00. Following the sale, the director now directly owns 24,954 shares in the company, valued at approximately $1,996,320. The trade was a 8.79% decrease in their position. The transaction 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 business's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $125.12, for a total value of $1,876,800.00. Following the sale, the executive vice president now owns 148,167 shares in the company, valued at approximately $18,538,655.04. The trade was a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 72,404 shares of company stock worth $8,509,167 over the last ninety days. 0.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MU. Wall Street Zen upgraded Micron Technology from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Needham & Company LLC increased their price target on Micron Technology from $120.00 to $150.00 and gave the stock a "buy" rating in a report on Thursday. Rosenblatt Securities increased their price target on Micron Technology from $172.00 to $200.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. Cantor Fitzgerald increased their price target on Micron Technology from $145.00 to $155.00 and gave the stock an "overweight" rating in a report on Thursday. Finally, Royal Bank Of Canada set a $125.00 price target on Micron Technology in a report on Wednesday, March 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $146.21.

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.