Sherbrooke Park Advisers LLC Sells 16,197 Shares of Micron Technology, Inc. (NASDAQ:MU)

Sherbrooke Park Advisers LLC lowered its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 80.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,916 shares of the semiconductor manufacturer's stock after selling 16,197 shares during the quarter. Sherbrooke Park Advisers LLC's holdings in Micron Technology were worth $330,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Xcel Wealth Management LLC increased its position in Micron Technology by 1.8% during the 4th quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer's stock worth $518,000 after buying an additional 108 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its holdings in shares of Micron Technology by 3.8% during the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer's stock worth $250,000 after purchasing an additional 108 shares during the period. Twin Capital Management Inc. increased its holdings in shares of Micron Technology by 0.5% during the fourth quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer's stock worth $1,688,000 after purchasing an additional 108 shares during the period. Lebenthal Global Advisors LLC increased its holdings in shares of Micron Technology by 1.5% during the fourth quarter. Lebenthal Global Advisors LLC now owns 7,474 shares of the semiconductor manufacturer's stock worth $629,000 after purchasing an additional 114 shares during the period. Finally, Cim Investment Management Inc. increased its holdings in shares of Micron Technology by 0.5% during the fourth quarter. Cim Investment Management Inc. now owns 23,062 shares of the semiconductor manufacturer's stock worth $1,941,000 after purchasing an additional 114 shares during the period. Institutional investors own 80.84% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on MU shares. China Renaissance cut shares of Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 target price on the stock. in a report on Wednesday, March 26th. JPMorgan Chase & Co. decreased their price target on Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a research report on Friday, March 21st. Wedbush restated an "underperform" rating on shares of Micron Technology in a research report on Monday, April 28th. KGI Securities upgraded Micron Technology to a "strong-buy" rating in a research report on Friday, February 21st. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $130.00 price target on shares of Micron Technology in a research report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $126.48.

Micron Technology Trading Down 0.6%

Shares of MU stock traded down $0.55 during mid-day trading on Tuesday, reaching $98.10. 12,311,720 shares of the stock traded hands, compared to its average volume of 23,487,623. The stock's fifty day simple moving average is $83.25 and its two-hundred day simple moving average is $92.59. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $157.54. The company has a market cap of $109.63 billion, a price-to-earnings ratio of 28.27 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.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same period last year, the firm posted $0.42 earnings per share. The business's revenue for the quarter was up 38.2% on a year-over-year basis. On average, research analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Monday, March 31st. Micron Technology's dividend payout ratio is currently 11.03%.

Insider Buying and Selling

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $80.00, for a total value of $192,320.00. Following the completion of 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 ownership of the stock. The sale 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 Micron Technology stock in a transaction that occurred 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,808 shares of company stock valued at $1,858,424 over the last ninety days. 0.30% of the stock is owned by company insiders.

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.