Toronto Dominion Bank Sells 284,400 Shares of Micron Technology, Inc. (NASDAQ:MU)

Toronto Dominion Bank decreased its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 25.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 823,610 shares of the semiconductor manufacturer's stock after selling 284,400 shares during the quarter. Toronto Dominion Bank owned approximately 0.07% of Micron Technology worth $69,315,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in MU. Beacon Capital Management LLC raised its holdings in shares of Micron Technology by 114.9% in the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock valued at $31,000 after purchasing an additional 200 shares in the last quarter. Midwest Capital Advisors LLC bought a new position in Micron Technology in the fourth quarter worth approximately $33,000. Comprehensive Financial Planning Inc. PA purchased a new stake in Micron Technology during the fourth quarter worth $34,000. Curio Wealth LLC bought a new stake in Micron Technology during the 4th quarter valued at $34,000. Finally, Activest Wealth Management increased its holdings in shares of Micron Technology by 583.3% in the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer's stock valued at $34,000 after acquiring an additional 350 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MU has been the subject of a number of analyst reports. KGI Securities upgraded Micron Technology to a "strong-buy" rating in a research note on Friday, February 21st. JPMorgan Chase & Co. decreased their price target on shares of Micron Technology from $145.00 to $135.00 and set an "overweight" rating for the company in a research report on Friday, March 21st. Royal Bank of Canada set a $125.00 price objective on shares of Micron Technology in a research report on Wednesday, March 19th. Wedbush reissued an "underperform" rating on shares of Micron Technology in a research report on Monday, April 28th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $130.00 price target on shares of Micron Technology in a report on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $126.48.

Micron Technology Price Performance

Shares of NASDAQ MU opened at $98.00 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The firm has a fifty day moving average of $83.13 and a 200 day moving average of $92.61. The firm has a market cap of $109.52 billion, a PE ratio of 28.24 and a beta of 1.21. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $157.54.

Micron Technology (NASDAQ:MU - Get Free Report) last released its 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 during the quarter, compared to analysts' expectations of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company's quarterly revenue was up 38.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.42 earnings per share. As a group, research analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently announced 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 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 presently 11.03%.

Insider Activity

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the business's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $80.00, for a total value of $192,320.00. Following the transaction, the director now directly owns 24,954 shares in the company, valued at $1,996,320. The trade was a 8.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the completion of the transaction, the executive vice president now owns 164,769 shares in the company, valued at $15,847,482.42. This represents 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 worth $1,858,424 over the last quarter. 0.30% of the stock is currently owned by corporate 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.

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