Shapiro Capital Management LLC Sells 44,586 Shares of Micron Technology, Inc. (NASDAQ:MU)

Shapiro Capital Management LLC lessened its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 3.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,115,270 shares of the semiconductor manufacturer's stock after selling 44,586 shares during the quarter. Micron Technology makes up 3.2% of Shapiro Capital Management LLC's holdings, making the stock its 13th largest holding. Shapiro Capital Management LLC owned about 0.10% of Micron Technology worth $93,861,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. E Fund Management Co. Ltd. increased its stake in shares of Micron Technology by 31.8% during the fourth quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer's stock valued at $3,062,000 after buying an additional 8,780 shares during the period. CIBC Private Wealth Group LLC boosted its position in Micron Technology by 43.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 14,178 shares of the semiconductor manufacturer's stock valued at $1,193,000 after purchasing an additional 4,264 shares in the last quarter. Stablepoint Partners LLC bought a new stake in Micron Technology during the fourth quarter valued at about $569,000. Landscape Capital Management L.L.C. boosted its position in Micron Technology by 167.0% during the fourth quarter. Landscape Capital Management L.L.C. now owns 45,758 shares of the semiconductor manufacturer's stock valued at $3,851,000 after purchasing an additional 28,621 shares in the last quarter. Finally, Duquesne Family Office LLC bought a new stake in Micron Technology during the fourth quarter valued at about $34,412,000. Institutional investors own 80.84% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Rosenblatt Securities lowered their price target on Micron Technology from $250.00 to $200.00 and set a "buy" rating for the company in a report on Friday, March 21st. UBS Group reduced their price objective on Micron Technology from $130.00 to $92.00 and set a "buy" rating for the company in a research note on Monday, April 28th. China Renaissance cut Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price objective for the company. in a research note on Wednesday, March 26th. JPMorgan Chase & Co. reduced their price objective on Micron Technology from $145.00 to $135.00 and set an "overweight" rating for the company in a research note on Friday, March 21st. Finally, Robert W. Baird raised their price objective on Micron Technology from $130.00 to $163.00 and gave the stock an "outperform" rating in a research note on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $126.48.

Micron Technology Stock Performance

NASDAQ MU opened at $95.45 on Friday. The stock's fifty day moving average is $82.95 and its two-hundred day moving average is $92.75. The firm has a market capitalization of $106.67 billion, a P/E ratio of 27.51 and a beta of 1.21. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week 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 EPS for the quarter, beating the consensus estimate of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same quarter in the prior year, the company posted $0.42 EPS. The company's quarterly revenue was up 38.2% on a year-over-year basis. On average, research analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.48%. The ex-dividend date was Monday, March 31st. Micron Technology's dividend payout ratio (DPR) is presently 11.03%.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the sale, the executive vice president now owns 164,769 shares in the company, valued at $15,847,482.42. This represents a 8.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $80.00, for a total value of $192,320.00. Following the completion of the transaction, the director now owns 24,954 shares in the company, valued at approximately $1,996,320. The trade was a 8.79% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,808 shares of company stock worth $1,858,424. 0.30% of the stock is currently owned by company insiders.

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.

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