Boston Partners decreased its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 6.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,475,156 shares of the semiconductor manufacturer's stock after selling 297,396 shares during the period. Boston Partners owned about 0.41% of Micron Technology worth $382,640,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of MU. OFI Invest Asset Management acquired a new stake in shares of Micron Technology in the third quarter valued at $27,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Micron Technology in the 3rd quarter valued at about $28,000. VisionPoint Advisory Group LLC boosted its stake in shares of Micron Technology by 68.3% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer's stock valued at $33,000 after buying an additional 198 shares during the period. Cape Investment Advisory Inc. lifted its stake in Micron Technology by 51.0% in the third quarter. Cape Investment Advisory Inc. now owns 592 shares of the semiconductor manufacturer's stock worth $40,000 after acquiring an additional 200 shares during the last quarter. Finally, Clear Street Markets LLC increased its position in shares of Micron Technology by 67.5% in the 3rd quarter. Clear Street Markets LLC now owns 623 shares of the semiconductor manufacturer's stock valued at $42,000 after purchasing an additional 251 shares during the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Micron Technology
In related news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $80.44, for a total transaction of $563,080.00. Following the completion of the sale, the chief executive officer now owns 788,557 shares of the company's stock, valued at approximately $63,431,525.08. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Sanjay Mehrotra sold 7,000 shares of the company's stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $80.44, for a total transaction of $563,080.00. Following the completion of the sale, the chief executive officer now directly owns 788,557 shares of the company's stock, valued at approximately $63,431,525.08. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Michael W. Bokan sold 15,000 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $115.55, for a total value of $1,733,250.00. Following the completion of the sale, the senior vice president now owns 153,387 shares of the company's stock, valued at $17,723,867.85. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 377,207 shares of company stock worth $42,681,947. 0.32% of the stock is owned by insiders.
Micron Technology Trading Up 2.9 %
Shares of MU traded up $3.43 on Friday, hitting $121.24. 13,922,427 shares of the stock traded hands, compared to its average volume of 19,152,804. Micron Technology, Inc. has a 1 year low of $60.06 and a 1 year high of $130.54. The stock's 50 day moving average is $111.77 and its two-hundred day moving average is $91.63. The firm has a market capitalization of $134.26 billion, a P/E ratio of -35.14 and a beta of 1.27. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30.
Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, beating analysts' consensus estimates of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The business had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.35 billion. During the same quarter in the previous year, the business earned ($2.03) earnings per share. The business's revenue for the quarter was up 57.7% on a year-over-year basis. As a group, sell-side analysts predict that Micron Technology, Inc. will post 0.24 earnings per share for the current year.
Micron Technology Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend was Thursday, March 28th. Micron Technology's payout ratio is currently -13.33%.
Wall Street Analyst Weigh In
MU has been the subject of several research analyst reports. Wedbush upped their target price on shares of Micron Technology from $103.00 to $130.00 and gave the company an "outperform" rating in a report on Thursday, March 21st. Mizuho lifted their target price on Micron Technology from $105.00 to $124.00 and gave the stock a "buy" rating in a research report on Thursday, March 21st. KeyCorp upped their target price on Micron Technology from $135.00 to $150.00 and gave the company an "overweight" rating in a research report on Monday, April 8th. JPMorgan Chase & Co. lifted their price target on Micron Technology from $105.00 to $130.00 and gave the stock an "overweight" rating in a research report on Thursday, March 21st. Finally, Robert W. Baird raised Micron Technology from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $115.00 to $150.00 in a report on Monday, May 6th. One analyst has rated the stock with a sell rating, one has given a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $123.60.
Check Out Our Latest Report on MU
About Micron Technology
(
Free Report)
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.
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