Valueworks LLC decreased its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 7.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 114,497 shares of the semiconductor manufacturer's stock after selling 9,415 shares during the period. Micron Technology makes up about 3.2% of Valueworks LLC's investment portfolio, making the stock its 14th largest position. Valueworks LLC's holdings in Micron Technology were worth $9,636,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the company. Beacon Capital Management LLC grew its holdings in shares of Micron Technology by 114.9% in the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock worth $31,000 after purchasing an additional 200 shares during the last quarter. Midwest Capital Advisors LLC bought a new position in shares of Micron Technology in the fourth quarter worth about $33,000. Activest Wealth Management grew its holdings in shares of Micron Technology by 583.3% in the fourth 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 bought a new position in shares of Micron Technology in the fourth quarter worth about $34,000. Finally, Curio Wealth LLC bought a new position in shares of Micron Technology in the fourth quarter worth about $34,000. Institutional investors own 80.84% of the company's stock.
Insiders Place Their Bets
In other news, EVP April S. Arnzen sold 15,000 shares of Micron Technology 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 completion of the transaction, the executive vice president now directly owns 164,769 shares of the company's stock, valued at $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 through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology 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 in the company, valued at $1,996,320. This represents a 8.79% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,808 shares of company stock valued at $1,858,424. 0.30% of the stock is owned by insiders.
Analysts Set New Price Targets
Several brokerages have issued reports on MU. Royal Bank of Canada set a $125.00 target price on shares of Micron Technology in a report on Wednesday, March 19th. Barclays dropped their target price on shares of Micron Technology from $115.00 to $95.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. JPMorgan Chase & Co. dropped their target price on shares of Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a report on Friday, March 21st. Robert W. Baird increased their target price on shares of Micron Technology from $130.00 to $163.00 and gave the stock an "outperform" rating in a report on Friday, March 21st. Finally, Citigroup dropped 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. Two research analysts have rated the stock with a sell rating, four have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $126.48.
Check Out Our Latest Research Report on MU
Micron Technology Stock Performance
Shares of Micron Technology stock traded down $2.26 during midday trading on Wednesday, hitting $95.84. The company had a trading volume of 15,715,764 shares, compared to its average volume of 23,487,796. The stock has a market cap of $107.11 billion, a price-to-earnings ratio of 27.62 and a beta of 1.21. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The company has a fifty day simple moving average of $83.15 and a 200 day simple moving average of $92.61. 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 (EPS) for the quarter, topping analysts' consensus estimates of $1.43 by $0.13. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.93 billion. During the same period last year, the firm posted $0.42 EPS. Micron Technology's revenue for the quarter was up 38.2% compared to the same quarter last year. As a group, analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.
Micron Technology Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders 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 yield of 0.48%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology's dividend payout ratio is presently 11.03%.
About Micron Technology
(
Free Report)
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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