Securian Asset Management Inc. Sells 9,086 Shares of Micron Technology, Inc. (NASDAQ:MU)

Securian Asset Management Inc. lowered its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 11.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,514 shares of the semiconductor manufacturer's stock after selling 9,086 shares during the quarter. Securian Asset Management Inc.'s holdings in Micron Technology were worth $5,932,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of MU. Vanguard Group Inc. lifted its position in Micron Technology by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 94,229,187 shares of the semiconductor manufacturer's stock valued at $6,410,412,000 after acquiring an additional 305,860 shares in the last quarter. FMR LLC lifted its holdings in shares of Micron Technology by 47.9% in the third 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 in the last quarter. Wellington Management Group LLP grew its stake in Micron Technology by 43.4% during the third quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer's stock valued at $1,182,608,000 after acquiring an additional 5,257,201 shares in the last quarter. Morgan Stanley boosted its holdings in Micron Technology by 19.7% in the 3rd quarter. Morgan Stanley now owns 17,303,400 shares of the semiconductor manufacturer's stock valued at $1,177,151,000 after purchasing an additional 2,852,688 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of Micron Technology by 0.7% in the 3rd quarter. Northern Trust Corp now owns 10,833,670 shares of the semiconductor manufacturer's stock valued at $737,015,000 after acquiring an additional 80,345 shares in the last quarter. Institutional investors own 80.84% of the company's stock.

Micron Technology Stock Performance

Shares of NASDAQ MU traded down $2.60 during trading on Friday, reaching $125.29. The stock had a trading volume of 13,774,737 shares, compared to its average volume of 16,998,132. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74. Micron Technology, Inc. has a one year low of $60.50 and a one year high of $130.54. The firm's 50 day moving average price is $114.70 and its two-hundred day moving average price is $93.72. The stock has a market cap of $138.74 billion, a PE ratio of -36.32 and a beta of 1.27.

Micron Technology (NASDAQ:MU - Get Free Report) last released its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, beating the consensus estimate of ($0.27) by $0.69. The firm had revenue of $5.82 billion for the quarter, compared to analysts' expectations 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 quarterly revenue was up 57.7% on a year-over-year basis. During the same quarter last year, the company earned ($2.03) EPS. On average, research analysts forecast that Micron Technology, Inc. will post 0.24 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.37%. The ex-dividend date was Thursday, March 28th. Micron Technology's dividend payout ratio (DPR) is presently -13.33%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. UBS Group upped their price target on shares of Micron Technology from $95.00 to $120.00 and gave the stock a "buy" rating in a research note on Tuesday, March 19th. Stifel Nicolaus reissued a "buy" rating and issued a $140.00 target price on shares of Micron Technology in a report on Friday, April 12th. TD Cowen increased their price objective on shares of Micron Technology from $120.00 to $150.00 and gave the company an "outperform" rating in a research report on Thursday, March 21st. Argus raised shares of Micron Technology from a "hold" rating to a "buy" rating and set a $140.00 price objective on the stock in a report on Thursday, March 21st. Finally, Bank of America upped their price target on Micron Technology from $120.00 to $144.00 and gave the stock a "buy" rating in a research report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twenty-five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $125.64.

Insiders Place Their Bets

In other news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $80.44, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Michael W. Bokan sold 15,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $123.42, for a total value of $1,851,300.00. Following the completion of the sale, the senior vice president now directly owns 138,387 shares of the company's stock, valued at $17,079,723.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sanjay Mehrotra sold 7,000 shares of the company's stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $80.44, for a total value of $563,080.00. Following the completion of the transaction, the chief executive officer now directly owns 788,557 shares in the company, valued at approximately $63,431,525.08. The disclosure for this sale can be found here. Insiders sold a total of 417,446 shares of company stock worth $47,867,783 over the last quarter. Company insiders own 0.32% 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.