Micron Technology, Inc. (NASDAQ:MU) Holdings Lowered by Melqart Asset Management UK Ltd

Melqart Asset Management UK Ltd reduced its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 51.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,520 shares of the semiconductor manufacturer's stock after selling 80,696 shares during the period. Micron Technology accounts for about 0.8% of Melqart Asset Management UK Ltd's investment portfolio, making the stock its 29th largest holding. Melqart Asset Management UK Ltd's holdings in Micron Technology were worth $6,356,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Trivant Custom Portfolio Group LLC boosted its position in Micron Technology by 20.0% in the 4th quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer's stock worth $50,000 after purchasing an additional 100 shares in the last quarter. Xcel Wealth Management LLC raised its stake in shares of Micron Technology by 1.8% during the 4th quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer's stock worth $518,000 after buying an additional 108 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its stake in shares of Micron Technology by 3.8% during the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer's stock worth $250,000 after buying an additional 108 shares during the period. Twin Capital Management Inc. raised its stake in shares of Micron Technology by 0.5% during the 4th quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer's stock worth $1,688,000 after buying an additional 108 shares during the period. Finally, Lebenthal Global Advisors LLC raised its stake in shares of Micron Technology by 1.5% during the 4th quarter. Lebenthal Global Advisors LLC now owns 7,474 shares of the semiconductor manufacturer's stock worth $629,000 after buying an additional 114 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Trading Up 2.2 %

Shares of MU stock traded up $1.71 on Thursday, reaching $78.66. 9,070,027 shares of the stock were exchanged, compared to its average volume of 23,231,258. The stock has a market cap of $87.90 billion, a P/E ratio of 22.65 and a beta of 1.18. 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 firm has a 50 day moving average of $84.23 and a two-hundred day moving average of $94.38. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $157.54.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share 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 firm had revenue of $8.05 billion during the quarter, compared to analysts' expectations of $7.93 billion. During the same period in the prior year, the company earned $0.42 EPS. The firm's revenue was up 38.2% on a year-over-year basis. On average, research analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.115 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.58%. Micron Technology's dividend payout ratio (DPR) is presently 11.03%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on MU shares. Morgan Stanley upped their target price on Micron Technology from $91.00 to $112.00 and gave the stock an "equal weight" rating in a research note on Friday, March 21st. Rosenblatt Securities reduced their target price on Micron Technology from $250.00 to $200.00 and set a "buy" rating for the company in a research note on Friday, March 21st. Wells Fargo & Company reissued an "equal weight" rating on shares of Micron Technology in a research note on Monday. Cantor Fitzgerald reissued an "overweight" rating and issued a $130.00 price objective on shares of Micron Technology in a research note on Friday, March 21st. Finally, Royal Bank of Canada set a $125.00 price objective on Micron Technology in a research note on Wednesday, March 19th. Two analysts have rated the stock with a sell rating, four have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Micron Technology presently has a consensus rating of "Moderate Buy" and a consensus target price of $127.04.

Insider Activity

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the company's stock in a transaction on Monday, March 3rd. The stock was 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 in the company, valued at $2,542,378.94. This represents a 8.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction 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 transaction, the executive vice president now 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. Company insiders own 0.30% of the company's stock.

About Micron Technology

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.