MGO One Seven LLC Lowers Stake in Micron Technology, Inc. (NASDAQ:MU)

MGO One Seven LLC trimmed its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 49.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,158 shares of the semiconductor manufacturer's stock after selling 5,049 shares during the period. MGO One Seven LLC's holdings in Micron Technology were worth $434,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Beacon Capital Management LLC raised its position in Micron Technology by 114.9% during the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock worth $31,000 after buying an additional 200 shares during the last quarter. Midwest Capital Advisors LLC purchased a new position in Micron Technology during the 4th quarter worth approximately $33,000. Comprehensive Financial Planning Inc. PA purchased a new position in Micron Technology during the 4th quarter worth approximately $34,000. Curio Wealth LLC purchased a new position in Micron Technology during the 4th quarter worth approximately $34,000. Finally, Activest Wealth Management raised its position in Micron Technology by 583.3% during the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer's stock worth $34,000 after buying an additional 350 shares during the last quarter. 80.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MU has been the subject of several recent research reports. China Renaissance lowered shares of Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 target price for the company. in a report on Wednesday, March 26th. JPMorgan Chase & Co. cut their target price on shares of Micron Technology from $145.00 to $135.00 and set an "overweight" rating for the company in a report on Friday, March 21st. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $130.00 target price on shares of Micron Technology in a report on Friday, March 21st. Barclays cut their target price on shares of Micron Technology from $115.00 to $95.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Finally, Morgan Stanley lifted their target price on shares of Micron Technology from $91.00 to $112.00 and gave the company an "equal weight" rating in a report on Friday, March 21st. Two equities research 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. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $127.04.

Micron Technology Stock Up 2.1 %

Shares of Micron Technology stock traded up $1.59 during trading on Thursday, hitting $78.54. 8,229,121 shares of the stock were exchanged, compared to its average volume of 23,227,653. The stock has a market cap of $87.78 billion, a price-to-earnings ratio of 22.64 and a beta of 1.18. The firm's 50-day moving average price is $84.23 and its 200 day moving average price is $94.38. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $157.54. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75.

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

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a $0.115 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a yield of 0.59%. Micron Technology's dividend payout ratio (DPR) is presently 11.03%.

Insider Activity at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology 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 of the company's stock, valued at approximately $2,542,378.94. The trade was a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP April S. Arnzen sold 15,000 shares of Micron Technology 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 directly owns 164,769 shares of the company's stock, valued at approximately $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. 0.30% of the stock is owned by corporate insiders.

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.