Two Sigma Advisers LP Cuts Position in Micron Technology, Inc. (NASDAQ:MU)

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

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Micron Technology by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer's stock worth $8,403,982,000 after buying an additional 888,087 shares in the last quarter. FMR LLC raised its holdings in shares of Micron Technology by 34.6% in the 4th quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer's stock worth $4,012,114,000 after purchasing an additional 12,249,341 shares during the period. Capital World Investors raised its holdings in shares of Micron Technology by 63.7% in the 4th quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer's stock worth $3,458,673,000 after purchasing an additional 15,993,036 shares during the period. Geode Capital Management LLC raised its holdings in shares of Micron Technology by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 24,449,827 shares of the semiconductor manufacturer's stock worth $2,052,973,000 after purchasing an additional 726,282 shares during the period. Finally, Norges Bank bought a new stake in shares of Micron Technology in the 4th quarter worth approximately $1,470,875,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction dated 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. The trade was a 8.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,808 shares of company stock valued at $1,858,424. Insiders own 0.30% of the company's stock.

Analyst Upgrades and Downgrades

MU has been the topic of a number of analyst reports. China Renaissance cut shares of Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 target price on the stock. in a report on Wednesday, March 26th. Wall Street Zen cut shares of Micron Technology from a "buy" rating to a "hold" rating in a report on Saturday. Citigroup lowered their target price on shares of Micron Technology from $120.00 to $110.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Morgan Stanley lowered their target price 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. Finally, Royal Bank of Canada set a $125.00 target price on shares of Micron Technology in a report on Wednesday, March 19th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $126.48.

Micron Technology Trading Down 1.5%

Micron Technology stock traded down $1.46 during mid-day trading on Friday, hitting $93.37. The company's stock had a trading volume of 16,534,270 shares, compared to its average volume of 23,479,220. 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 stock has a market cap of $104.35 billion, a price-to-earnings ratio of 26.91 and a beta of 1.21. The business has a 50 day moving average price of $82.82 and a 200-day moving average price of $92.48. 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 posted its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.13. The business had revenue of $8.05 billion during 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 firm's revenue for the quarter was up 38.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.42 earnings per share. As a group, analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Monday, March 31st. Micron Technology's dividend payout ratio (DPR) is 11.03%.

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.