USS Investment Management Ltd Decreases Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

USS Investment Management Ltd lessened its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 3.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 190,183 shares of the semiconductor manufacturer's stock after selling 5,804 shares during the quarter. USS Investment Management Ltd's holdings in Micron Technology were worth $16,007,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Micron Technology in the 4th quarter worth approximately $1,470,875,000. Capital World Investors lifted its stake 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. FMR LLC lifted its stake 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 Research Global Investors lifted its stake in shares of Micron Technology by 139.7% in the 4th quarter. Capital Research Global Investors now owns 16,281,620 shares of the semiconductor manufacturer's stock worth $1,370,280,000 after purchasing an additional 9,489,579 shares during the period. Finally, Capital International Investors lifted its stake in shares of Micron Technology by 36.3% in the 4th quarter. Capital International Investors now owns 16,437,080 shares of the semiconductor manufacturer's stock worth $1,383,442,000 after purchasing an additional 4,375,232 shares during the period. Hedge funds and other institutional investors own 80.84% of the company's stock.

Insiders Place Their Bets

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the business's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $80.00, for a total transaction of $192,320.00. Following the completion of the sale, the director now directly owns 24,954 shares of the company's stock, valued at approximately $1,996,320. The trade was a 8.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP April S. Arnzen sold 15,000 shares of the business's stock in a transaction 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 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 disclosure for this sale can be found here. Insiders sold 19,808 shares of company stock valued at $1,858,424 over the last three months. 0.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on MU shares. Rosenblatt Securities lowered their price objective on shares of Micron Technology from $250.00 to $200.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. Wedbush reiterated an "underperform" rating on shares of Micron Technology in a research note on Monday, April 28th. Wall Street Zen cut shares of Micron Technology from a "buy" rating to a "hold" rating in a research note on Saturday. JPMorgan Chase & Co. reduced their price objective on shares of Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a research report on Friday, March 21st. Finally, Wells Fargo & Company reiterated an "equal weight" rating on shares of Micron Technology in a research report on Monday, April 28th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $126.48.

Micron Technology Trading Down 1.5%

NASDAQ MU traded down $1.46 on Friday, hitting $93.37. 16,534,270 shares of the stock were exchanged, compared to its average volume of 23,517,093. 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 stock has a fifty day moving average price of $82.82 and a two-hundred day moving average price of $92.34. The firm has a market capitalization of $104.35 billion, a P/E ratio of 26.91 and a beta of 1.21. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $157.54.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping the consensus estimate of $1.43 by $0.13. The company had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. Micron Technology's quarterly revenue was up 38.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.42 earnings per share. Research analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders 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 0.49%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology's payout ratio 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.