Thornburg Investment Management Inc. Has $8.41 Million Holdings in Micron Technology, Inc. (NASDAQ:MU)

Thornburg Investment Management Inc. lessened its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 55.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 99,882 shares of the semiconductor manufacturer's stock after selling 123,750 shares during the quarter. Thornburg Investment Management Inc.'s holdings in Micron Technology were worth $8,406,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Trivant Custom Portfolio Group LLC grew its holdings in Micron Technology by 20.0% during the fourth quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer's stock worth $50,000 after buying an additional 100 shares in the last quarter. Xcel Wealth Management LLC grew its holdings in Micron Technology by 1.8% during the fourth 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 in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its holdings in 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 buying an additional 108 shares in the last quarter. Twin Capital Management Inc. grew its holdings in 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 buying an additional 108 shares in the last quarter. Finally, Lebenthal Global Advisors LLC grew its stake in Micron Technology by 1.5% in the 4th quarter. Lebenthal Global Advisors LLC now owns 7,474 shares of the semiconductor manufacturer's stock valued at $629,000 after purchasing an additional 114 shares during the period. Institutional investors and hedge funds own 80.84% of the company's stock.

Micron Technology Stock Performance

Shares of NASDAQ MU opened at $98.00 on Friday. The stock's 50-day moving average is $83.13 and its 200 day moving average is $92.61. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $157.54. The stock has a market cap of $109.52 billion, a price-to-earnings ratio of 28.24 and a beta of 1.21.

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, topping analysts' consensus estimates of $1.43 by $0.13. The business had revenue of $8.05 billion for the quarter, compared to analysts' expectations of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business's quarterly revenue was up 38.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.42 EPS. On average, sell-side analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

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

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the business's 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 sale, the executive vice president now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the completion of the sale, the director now directly owns 27,358 shares in the company, valued at $2,542,378.94. This trade represents a 8.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,808 shares of company stock worth $1,858,424. 0.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MU. Robert W. Baird upped their price objective on Micron Technology from $130.00 to $163.00 and gave the company an "outperform" rating in a research note on Friday, March 21st. JPMorgan Chase & Co. reduced their price objective on Micron Technology from $145.00 to $135.00 and set an "overweight" rating for the company in a research note on Friday, March 21st. Royal Bank of Canada set a $125.00 price target on Micron Technology in a research note on Wednesday, March 19th. Barclays cut their price target on Micron Technology from $115.00 to $95.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Finally, Wells Fargo & Company reiterated an "equal weight" rating on shares of Micron Technology in a research note on Monday, April 28th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $126.48.

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.

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