Greenwood Capital Associates LLC Sells 13,956 Shares of Micron Technology, Inc. (NASDAQ:MU)

Greenwood Capital Associates LLC lowered its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 23.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,889 shares of the semiconductor manufacturer's stock after selling 13,956 shares during the period. Greenwood Capital Associates LLC's holdings in Micron Technology were worth $3,987,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. E Fund Management Co. Ltd. lifted its holdings in shares of Micron Technology by 31.8% during the 4th quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer's stock worth $3,062,000 after acquiring an additional 8,780 shares during the period. CIBC Private Wealth Group LLC raised its position in Micron Technology by 43.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 14,178 shares of the semiconductor manufacturer's stock valued at $1,193,000 after purchasing an additional 4,264 shares in the last quarter. Landscape Capital Management L.L.C. lifted its stake in Micron Technology by 167.0% during the fourth quarter. Landscape Capital Management L.L.C. now owns 45,758 shares of the semiconductor manufacturer's stock worth $3,851,000 after purchasing an additional 28,621 shares during the last quarter. Duquesne Family Office LLC acquired a new stake in shares of Micron Technology in the 4th quarter valued at $34,412,000. Finally, Janus Henderson Group PLC increased its stake in shares of Micron Technology by 74.6% in the 4th quarter. Janus Henderson Group PLC now owns 2,646,936 shares of the semiconductor manufacturer's stock valued at $222,779,000 after purchasing an additional 1,130,680 shares during the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Stock Performance

NASDAQ:MU traded down $0.81 during trading on Friday, reaching $115.37. The company's stock had a trading volume of 12,098,503 shares, compared to its average volume of 23,641,968. The firm has a market cap of $128.93 billion, a price-to-earnings ratio of 33.27 and a beta of 1.28. The firm has a 50 day moving average of $87.20 and a 200-day moving average of $92.51. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. 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 announced its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $7.93 billion. During the same period in the prior year, the company earned $0.42 earnings per share. Micron Technology's revenue was up 38.2% compared to the same quarter last year. Research analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology's dividend payout ratio is currently 11.03%.

Insider Buying and Selling at Micron Technology

In other news, CEO Sanjay Mehrotra sold 3,938 shares of the company's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $110.88, for a total value of $436,645.44. Following the sale, the chief executive officer now directly owns 387,175 shares of the company's stock, valued at $42,929,964. This represents a 1.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 164,769 shares in the company, valued at approximately $15,847,482.42. This represents a 8.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 44,904 shares of company stock worth $4,665,124 over the last ninety days. Insiders own 0.30% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on MU shares. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $130.00 price target on shares of Micron Technology in a report on Friday, March 21st. Wall Street Zen cut Micron Technology from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. KGI Securities upgraded shares of Micron Technology to a "strong-buy" rating in a research report on Friday, February 21st. Royal Bank of Canada set a $125.00 price objective on shares of Micron Technology in a research note on Wednesday, March 19th. Finally, Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Micron Technology in a research report on Monday, April 28th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $129.00.

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.