Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Gotham Asset Management LLC

Gotham Asset Management LLC lowered its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 23.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 118,603 shares of the semiconductor manufacturer's stock after selling 36,920 shares during the quarter. Gotham Asset Management LLC's holdings in Micron Technology were worth $9,982,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the stock. Beacon Capital Management LLC lifted its position in shares of Micron Technology by 114.9% during 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 in the last quarter. Midwest Capital Advisors LLC acquired a new stake in Micron Technology during the 4th quarter worth approximately $33,000. Comprehensive Financial Planning Inc. PA purchased a new position in Micron Technology in the 4th quarter valued at approximately $34,000. Curio Wealth LLC purchased a new position in Micron Technology in the 4th quarter valued at approximately $34,000. Finally, Activest Wealth Management grew its stake 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 acquiring an additional 350 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

Insider Transactions at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction that occurred 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 approximately $1,996,320. This trade represents a 8.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of the firm'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 value 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 19,808 shares of company stock valued at $1,858,424. Corporate insiders own 0.30% of the company's stock.

Micron Technology Stock Performance

MU traded up $4.64 during trading on Tuesday, hitting $96.93. 27,949,262 shares of the stock were exchanged, compared to its average volume of 23,389,058. The stock has a fifty day moving average price of $82.58 and a two-hundred day moving average price of $92.78. The firm has a market capitalization of $108.33 billion, a P/E ratio of 27.93 and a beta of 1.21. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $157.54. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28.

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, beating the consensus estimate of $1.43 by $0.13. The firm had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm's revenue was up 38.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.42 EPS. As a group, sell-side analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology's payout ratio is 11.03%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MU. Citigroup decreased their target price on Micron Technology from $120.00 to $110.00 and set a "buy" rating for the company in a report on Friday, April 11th. Royal Bank of Canada set a $125.00 price target on Micron Technology in a research report on Wednesday, March 19th. Wells Fargo & Company reissued an "equal weight" rating on shares of Micron Technology in a research report on Monday, April 28th. Barclays reduced 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. Finally, Robert W. Baird boosted their price target 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. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Micron Technology has a consensus rating of "Moderate Buy" and a consensus price target of $126.48.

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.