Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Two Sigma Advisers LP

Two Sigma Advisers LP trimmed its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 96.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 155,200 shares of the semiconductor manufacturer's stock after selling 4,418,000 shares during the quarter. Two Sigma Advisers LP's holdings in Micron Technology were worth $13,062,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Xcel Wealth Management LLC grew its position in shares of 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 purchasing an additional 108 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its stake in Micron Technology by 3.8% in the 4th 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. grew its holdings in Micron Technology by 0.5% during the 4th quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer's stock valued at $1,688,000 after buying an additional 108 shares in the last quarter. Lebenthal Global Advisors LLC raised its position 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 valued at $629,000 after buying an additional 114 shares during the last quarter. Finally, Cim Investment Management Inc. lifted its holdings in shares of Micron Technology by 0.5% in the fourth quarter. Cim Investment Management Inc. now owns 23,062 shares of the semiconductor manufacturer's stock worth $1,941,000 after buying an additional 114 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company's stock.

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 that occurred on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $80.00, for a total transaction of $192,320.00. Following the completion of the transaction, the director now directly owns 24,954 shares of the company's stock, valued at approximately $1,996,320. This represents a 8.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,808 shares of company stock valued at $1,858,424 in the last quarter. 0.30% of the stock is currently owned by corporate insiders.

Micron Technology Trading Down 1.5%

Shares of NASDAQ:MU traded down $1.46 on Monday, hitting $93.37. 16,534,270 shares of the company's stock were exchanged, compared to its average volume of 23,517,093. The stock has a market capitalization of $104.35 billion, a price-to-earnings ratio of 26.91 and a beta of 1.21. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $157.54. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The business's 50 day simple moving average is $82.82 and its two-hundred day simple moving average is $92.20.

Micron Technology (NASDAQ:MU - Get Free Report) last issued 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 for the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company's revenue for the quarter was up 38.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.42 EPS. Analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology's payout ratio is presently 11.03%.

Analyst Ratings Changes

A number of analysts have issued reports on MU shares. Morgan Stanley reduced their price target on shares of Micron Technology from $112.00 to $98.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 7th. Robert W. Baird lifted their target price on Micron Technology from $130.00 to $163.00 and gave the stock an "outperform" rating in a report on Friday, March 21st. Wedbush reissued an "underperform" rating on shares of Micron Technology in a research note on Monday, April 28th. Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Micron Technology in a research note on Monday, April 28th. Finally, China Renaissance downgraded Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 target price for the company. in a research report on Wednesday, March 26th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $126.48.

About Micron Technology

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.