Siemens Fonds Invest GmbH Cuts Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Siemens Fonds Invest GmbH cut its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 88.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,682 shares of the semiconductor manufacturer's stock after selling 36,497 shares during the period. Siemens Fonds Invest GmbH's holdings in Micron Technology were worth $385,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MU. E Fund Management Co. Ltd. grew its position in shares of Micron Technology by 31.8% in the fourth quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer's stock valued at $3,062,000 after purchasing an additional 8,780 shares during the period. CIBC Private Wealth Group LLC boosted its stake 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 worth $1,193,000 after buying an additional 4,264 shares during the last quarter. Stablepoint Partners LLC purchased a new stake in Micron Technology in the 4th quarter valued at $569,000. Landscape Capital Management L.L.C. grew its holdings in Micron Technology by 167.0% in the 4th quarter. Landscape Capital Management L.L.C. now owns 45,758 shares of the semiconductor manufacturer's stock valued at $3,851,000 after buying an additional 28,621 shares in the last quarter. Finally, Duquesne Family Office LLC acquired a new stake in shares of Micron Technology in the 4th quarter worth $34,412,000. Institutional investors and hedge funds own 80.84% of the company's stock.

Micron Technology Stock Up 2.7%

MU stock opened at $98.00 on Friday. The company has a market cap of $109.52 billion, a price-to-earnings ratio of 28.24 and a beta of 1.21. The company has a fifty day moving average price of $83.13 and a 200 day moving average price of $92.61. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. 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 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 net margin of 13.34% and a return on equity of 8.32%. The business had revenue of $8.05 billion during the quarter, compared to analysts' expectations of $7.93 billion. During the same period in the prior year, the company earned $0.42 earnings per share. The business's revenue was up 38.2% compared to the same quarter last year. Sell-side analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The business 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. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.46 annualized dividend and a dividend yield of 0.47%. Micron Technology's dividend payout ratio (DPR) is currently 11.03%.

Analyst Upgrades and Downgrades

MU has been the subject of several analyst reports. Robert W. Baird increased their price target on shares of Micron Technology from $130.00 to $163.00 and gave the company an "outperform" rating in a research note on Friday, March 21st. Barclays decreased their price target on shares of Micron Technology from $115.00 to $95.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. China Renaissance cut Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 target price for the company. in a research note on Wednesday, March 26th. Wedbush reaffirmed an "underperform" rating on shares of Micron Technology in a research report on Monday, April 28th. Finally, KGI Securities upgraded Micron Technology to a "strong-buy" rating in a research note on Friday, February 21st. Two research analysts have rated the stock with a sell rating, four have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Micron Technology presently has a consensus rating of "Moderate Buy" and a consensus price target of $126.48.

Insider Activity

In other news, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 164,769 shares of the company's stock, valued at approximately $15,847,482.42. This represents a 8.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction that occurred on Friday, May 2nd. The shares were 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 owns 24,954 shares in the company, valued at approximately $1,996,320. This trade represents a 8.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,808 shares of company stock valued at $1,858,424. Company insiders own 0.30% of the company's stock.

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.

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