Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. lowered its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 57.8% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 116,824 shares of the semiconductor manufacturer's stock after selling 159,902 shares during the quarter. Robeco Institutional Asset Management B.V.'s holdings in Micron Technology were worth $10,151,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in MU. Vanguard Group Inc. raised its stake in shares of Micron Technology by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer's stock worth $8,403,982,000 after purchasing an additional 888,087 shares during the last quarter. FMR LLC increased its holdings in Micron Technology by 34.6% in the 4th quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer's stock worth $4,012,114,000 after buying an additional 12,249,341 shares during the period. Capital World Investors raised its position in Micron Technology by 63.7% during the 4th quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer's stock worth $3,458,673,000 after buying an additional 15,993,036 shares during the last quarter. Geode Capital Management LLC raised its position in 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 buying an additional 726,282 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Micron Technology in the 4th quarter valued at $1,470,875,000. Hedge funds and other institutional investors own 80.84% of the company's stock.

Micron Technology Price Performance

Shares of MU stock traded up $0.85 on Wednesday, reaching $121.74. 29,259,282 shares of the company were exchanged, compared to its average volume of 23,340,095. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $137.13. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.89 and a current ratio of 2.75. The business has a 50-day moving average price of $100.85 and a 200 day moving average price of $94.48. The company has a market cap of $136.24 billion, a price-to-earnings ratio of 21.94 and a beta of 1.35.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.34. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%. The company had revenue of $9.30 billion for the quarter, compared to analysts' expectations of $8.83 billion. During the same period in the previous year, the firm posted $0.62 EPS. Equities research analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th will be issued a $0.115 dividend. The ex-dividend date is Monday, July 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.38%. Micron Technology's payout ratio is currently 11.03%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on MU shares. Wells Fargo & Company raised their target price on shares of Micron Technology from $150.00 to $170.00 and gave the stock an "overweight" rating in a report on Thursday, June 26th. Rosenblatt Securities increased their price target on Micron Technology from $172.00 to $200.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. Susquehanna lifted their price objective on Micron Technology from $150.00 to $160.00 and gave the company a "positive" rating in a research note on Thursday, June 26th. Stifel Nicolaus upped their target price on Micron Technology from $130.00 to $145.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. Finally, Mizuho raised their target price on Micron Technology from $124.00 to $130.00 and gave the stock an "outperform" rating in a report on Thursday, June 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Micron Technology currently has a consensus rating of "Moderate Buy" and an average target price of $146.21.

Insider Activity at Micron Technology

In other news, Director Steven J. Gomo sold 7,000 shares of the company's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $125.15, for a total value of $876,050.00. Following the completion of the sale, the director directly owned 22,762 shares in the company, valued at $2,848,664.30. This represents a 23.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Manish H. Bhatia sold 80,000 shares of the company's stock in a transaction on Monday, June 30th. The shares were sold at an average price of $123.16, for a total value of $9,852,800.00. Following the completion of the sale, the executive vice president owned 275,067 shares of the company's stock, valued at approximately $33,877,251.72. The trade was a 22.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 252,042 shares of company stock worth $30,863,160 over the last 90 days. Corporate insiders own 0.30% of the company's stock.

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.