Jefferies Financial Group Inc. Sells 13,680 Shares of Micron Technology, Inc. (NASDAQ:MU)

Jefferies Financial Group Inc. lowered its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 37.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,713 shares of the semiconductor manufacturer's stock after selling 13,680 shares during the period. Jefferies Financial Group Inc.'s holdings in Micron Technology were worth $1,912,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of MU. Brighton Jones LLC increased its holdings in Micron Technology by 18.3% during the 4th quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer's stock valued at $532,000 after purchasing an additional 976 shares during the period. First Citizens Bank & Trust Co. increased its holdings in Micron Technology by 6.3% during the 4th quarter. First Citizens Bank & Trust Co. now owns 5,855 shares of the semiconductor manufacturer's stock valued at $493,000 after purchasing an additional 346 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in Micron Technology by 18.8% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 5,075 shares of the semiconductor manufacturer's stock valued at $427,000 after purchasing an additional 802 shares during the period. Blue Trust Inc. increased its holdings in Micron Technology by 25.8% during the 4th quarter. Blue Trust Inc. now owns 17,810 shares of the semiconductor manufacturer's stock valued at $1,499,000 after purchasing an additional 3,656 shares during the period. Finally, Union Bancaire Privee UBP SA purchased a new position in Micron Technology during the 4th quarter valued at about $846,000. Hedge funds and other institutional investors own 80.84% of the company's stock.

Micron Technology Stock Performance

MU traded down $2.38 during mid-day trading on Friday, reaching $94.42. 23,746,837 shares of the company traded hands, compared to its average volume of 23,534,417. The stock has a market capitalization of $105.52 billion, a P/E ratio of 27.21 and a beta of 1.21. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The company's fifty day moving average price is $82.55 and its 200-day moving average price is $91.92. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $157.54.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its 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. The business had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company's quarterly revenue was up 38.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.42 EPS. On average, sell-side analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.115 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.46 annualized dividend and a dividend yield of 0.49%. Micron Technology's dividend payout ratio (DPR) is 11.03%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on MU shares. Wall Street Zen downgraded Micron Technology from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. UBS Group cut their price objective on Micron Technology from $130.00 to $92.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. China Renaissance cut Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price objective on the stock. in a research report on Wednesday, March 26th. Citigroup dropped their price target on Micron Technology from $120.00 to $110.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $130.00 price target on shares of Micron Technology in a research report on Friday, March 21st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Micron Technology presently has an average rating of "Moderate Buy" and a consensus price target of $126.48.

Insider Transactions at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.93, for a total value of $223,403.72. Following the completion of the transaction, the director now owns 27,358 shares of the company's stock, valued at approximately $2,542,378.94. This trade represents a 8.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the firm's stock in a transaction dated 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 directly owns 164,769 shares of the company's stock, valued at approximately $15,847,482.42. The trade was a 8.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,808 shares of company stock worth $1,858,424 in the last three months. Corporate insiders own 0.30% of the company's stock.

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.