Man Group plc Sells 215,919 Shares of Micron Technology, Inc. (NASDAQ:MU)

Man Group plc lowered its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 46.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 253,486 shares of the semiconductor manufacturer's stock after selling 215,919 shares during the quarter. Man Group plc's holdings in Micron Technology were worth $21,333,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Brookstone Capital Management increased its stake in shares of Micron Technology by 8.8% during the fourth quarter. Brookstone Capital Management now owns 11,921 shares of the semiconductor manufacturer's stock worth $1,003,000 after buying an additional 961 shares during the period. Miracle Mile Advisors LLC purchased a new position in Micron Technology in the fourth quarter valued at approximately $253,000. Assenagon Asset Management S.A. increased its stake in Micron Technology by 39.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 61,321 shares of the semiconductor manufacturer's stock valued at $5,161,000 after purchasing an additional 17,399 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in Micron Technology by 60.3% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 8,739 shares of the semiconductor manufacturer's stock valued at $735,000 after purchasing an additional 3,289 shares during the last quarter. Finally, Gateway Investment Advisers LLC increased its stake in Micron Technology by 10.5% in the fourth quarter. Gateway Investment Advisers LLC now owns 64,052 shares of the semiconductor manufacturer's stock valued at $5,391,000 after purchasing an additional 6,085 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value 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. This trade represents a 8.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value 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 represents a 8.79% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,808 shares of company stock worth $1,858,424. Insiders own 0.30% of the company's stock.

Analyst Ratings Changes

MU has been the subject of several research analyst reports. Barclays decreased their price objective on Micron Technology from $115.00 to $95.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Wedbush reissued an "underperform" rating on shares of Micron Technology in a report on Monday, April 28th. Citigroup lowered their price objective on shares of Micron Technology from $120.00 to $110.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. UBS Group cut their price objective on shares of Micron Technology from $130.00 to $92.00 and set a "buy" rating for the company in a research report on Monday, April 28th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Micron Technology from $145.00 to $135.00 and set an "overweight" rating for the company in a research report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $126.48.

Micron Technology Stock Performance

Shares of NASDAQ MU traded up $0.65 during trading hours on Monday, reaching $98.65. The stock had a trading volume of 14,366,051 shares, compared to its average volume of 23,514,765. The business's fifty day moving average is $83.13 and its two-hundred day moving average is $92.56. 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 company has a market cap of $110.25 billion, a price-to-earnings ratio of 28.43 and a beta of 1.21. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $157.54.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its earnings results 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 for the quarter, compared to analysts' expectations of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business's revenue for the quarter was up 38.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.42 earnings per share. As a group, research analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.47%. The ex-dividend date was Monday, March 31st. Micron Technology's dividend payout ratio is 11.03%.

Micron Technology Company 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.