Micron Technology, Inc. (NASDAQ:MU) Stock Position Reduced by Toronto Dominion Bank

Toronto Dominion Bank lowered its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 25.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 823,610 shares of the semiconductor manufacturer's stock after selling 284,400 shares during the period. Toronto Dominion Bank owned about 0.07% of Micron Technology worth $69,315,000 at the end of the most recent reporting period.

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

Micron Technology Stock Up 0.9%

NASDAQ MU traded up $0.82 during trading hours on Thursday, hitting $96.66. The company had a trading volume of 5,944,134 shares, compared to its average volume of 23,418,560. The firm's 50 day moving average is $83.15 and its 200 day moving average is $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 fifty-two week low of $61.54 and a fifty-two week high of $157.54. The company has a market capitalization of $108.02 billion, a price-to-earnings ratio of 27.88 and a beta of 1.21.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping analysts' consensus estimates of $1.43 by $0.13. The firm had revenue of $8.05 billion during 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%. Micron Technology's quarterly revenue was up 38.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.42 EPS. Sell-side analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology's dividend payout ratio (DPR) is 11.03%.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction 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 sale, the executive vice president now directly owns 164,769 shares of the company's stock, valued at $15,847,482.42. This represents a 8.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the transaction, the director now directly owns 27,358 shares of the company's stock, valued at approximately $2,542,378.94. This represents a 8.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,808 shares of company stock valued at $1,858,424 in the last quarter. Company insiders own 0.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on MU shares. UBS Group lowered their target price on shares of Micron Technology from $130.00 to $92.00 and set a "buy" rating for the company in a research note on Monday, April 28th. Wedbush reaffirmed an "underperform" rating on shares of Micron Technology in a research report on Monday, April 28th. Citigroup dropped their target price on Micron Technology from $120.00 to $110.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Royal Bank of Canada set a $125.00 price target on Micron Technology in a research note on Wednesday, March 19th. Finally, China Renaissance downgraded shares of Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price objective for the company. in a research note on Wednesday, March 26th. Two investment 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 company. Based on data from MarketBeat, the company presently has an average 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.