Mutual of America Capital Management LLC Sells 3,257 Shares of Micron Technology, Inc. (NASDAQ:MU)

Mutual of America Capital Management LLC cut its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 2.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 129,549 shares of the semiconductor manufacturer's stock after selling 3,257 shares during the quarter. Mutual of America Capital Management LLC's holdings in Micron Technology were worth $11,257,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Sunbeam Capital Management LLC bought a new position in shares of Micron Technology during the 4th quarter worth $26,000. Opal Wealth Advisors LLC bought a new position in Micron Technology during the first quarter worth about $33,000. Roxbury Financial LLC increased its stake in shares of Micron Technology by 306.1% in the first quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock worth $37,000 after purchasing an additional 300 shares in the last quarter. Curio Wealth LLC purchased a new position in shares of Micron Technology in the fourth quarter worth about $34,000. Finally, Hurley Capital LLC bought a new stake in shares of Micron Technology in the fourth quarter valued at approximately $37,000. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Price Performance

Shares of MU traded down $5.92 during midday trading on Monday, reaching $118.61. The stock had a trading volume of 32,035,914 shares, compared to its average volume of 23,416,385. The company has a current ratio of 2.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $132.74 billion, a price-to-earnings ratio of 21.37 and a beta of 1.35. The company's 50-day moving average is $108.03 and its 200 day moving average is $96.01. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $135.35.

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 business had revenue of $9.30 billion for the quarter, compared to analysts' expectations of $8.83 billion. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. During the same period last year, the business earned $0.62 earnings per share. On average, equities analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors of record on Monday, July 7th will be given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend is Monday, July 7th. Micron Technology's payout ratio is presently 8.29%.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $125.12, for a total transaction of $1,876,800.00. Following the completion of the sale, the executive vice president directly owned 148,167 shares in the company, valued at $18,538,655.04. This represents a 9.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Sumit Sadana sold 92,638 shares of Micron Technology stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $125.49, for a total value of $11,625,142.62. Following the completion of the transaction, the executive vice president directly owned 201,326 shares in the company, valued at $25,264,399.74. This trade represents a 31.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 254,446 shares of company stock valued at $31,154,717 over the last three months. 0.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

MU has been the subject of several analyst reports. UBS Group raised their price objective on shares of Micron Technology from $120.00 to $155.00 and gave the stock a "buy" rating in a report on Thursday, June 26th. China Renaissance lowered Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price target for the company. in a report on Wednesday, March 26th. Wells Fargo & Company lifted their price target on Micron Technology from $150.00 to $170.00 and gave the company an "overweight" rating in a research report on Thursday, June 26th. Robert W. Baird increased their price objective on Micron Technology from $163.00 to $200.00 and gave the stock an "outperform" rating in a report on Friday, June 27th. Finally, KeyCorp lifted their target price on Micron Technology from $135.00 to $160.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $146.44.

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.