Russell Investments Group Ltd. Lowers Position in Micron Technology, Inc. (NASDAQ:MU)

Russell Investments Group Ltd. lowered its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 2.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,847,850 shares of the semiconductor manufacturer's stock after selling 39,996 shares during the period. Russell Investments Group Ltd. owned about 0.17% of Micron Technology worth $157,711,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of Micron Technology by 47.9% during the 3rd quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer's stock worth $1,489,801,000 after buying an additional 7,089,790 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Micron Technology by 43.4% during the 3rd quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer's stock worth $1,182,608,000 after buying an additional 5,257,201 shares during the last quarter. Morgan Stanley boosted its stake in shares of Micron Technology by 19.7% during the 3rd quarter. Morgan Stanley now owns 17,303,400 shares of the semiconductor manufacturer's stock worth $1,177,151,000 after buying an additional 2,852,688 shares during the last quarter. California Public Employees Retirement System boosted its stake in shares of Micron Technology by 125.0% during the 4th quarter. California Public Employees Retirement System now owns 4,541,662 shares of the semiconductor manufacturer's stock worth $387,585,000 after buying an additional 2,523,267 shares during the last quarter. Finally, Phoenix Holdings Ltd. boosted its stake in shares of Micron Technology by 8,336.6% during the 3rd quarter. Phoenix Holdings Ltd. now owns 1,732,231 shares of the semiconductor manufacturer's stock worth $117,762,000 after buying an additional 1,753,262 shares during the last quarter. Institutional investors own 80.84% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MU. Morgan Stanley raised their target price on shares of Micron Technology from $78.00 to $98.00 and gave the company an "underweight" rating in a research note on Thursday, March 21st. Fox Advisors upgraded shares of Micron Technology from an "equal weight" rating to an "overweight" rating in a research note on Thursday, March 21st. JPMorgan Chase & Co. raised their target price on shares of Micron Technology from $105.00 to $130.00 and gave the company an "overweight" rating in a research note on Thursday, March 21st. Mizuho raised their target price on shares of Micron Technology from $105.00 to $124.00 and gave the company a "buy" rating in a research note on Thursday, March 21st. Finally, Citigroup reissued a "buy" rating and issued a $150.00 price target on shares of Micron Technology in a report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, Micron Technology has a consensus rating of "Moderate Buy" and an average price target of $122.20.

Micron Technology Price Performance

Micron Technology stock traded up $3.26 during mid-day trading on Friday, reaching $114.84. The company had a trading volume of 20,612,299 shares, compared to its average volume of 24,401,036. Micron Technology, Inc. has a fifty-two week low of $59.55 and a fifty-two week high of $130.54. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30. The company has a market cap of $127.17 billion, a P/E ratio of -33.29 and a beta of 1.27. The business has a fifty day simple moving average of $105.94 and a 200 day simple moving average of $88.30.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, topping analysts' consensus estimates of ($0.27) by $0.69. The company had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. Micron Technology's revenue was up 57.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($2.03) earnings per share. On average, equities research analysts predict that Micron Technology, Inc. will post 0.24 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.40%. The ex-dividend date was Thursday, March 28th. Micron Technology's dividend payout ratio (DPR) is currently -13.33%.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $84.84, for a total value of $593,880.00. Following the completion of the sale, the chief executive officer now directly owns 788,557 shares of the company's stock, valued at $66,901,175.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP April S. Arnzen sold 4,890 shares of the business's stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total transaction of $583,377.00. Following the completion of the sale, the executive vice president now directly owns 148,817 shares of the company's stock, valued at $17,753,868.10. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sanjay Mehrotra sold 7,000 shares of the business's stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $84.84, for a total transaction of $593,880.00. Following the sale, the chief executive officer now directly owns 788,557 shares of the company's stock, valued at $66,901,175.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 268,890 shares of company stock valued at $29,738,667. Corporate insiders own 0.32% of the company's stock.

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.