Wahed Invest LLC Has $1.89 Million Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Wahed Invest LLC lessened its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 16.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,427 shares of the semiconductor manufacturer's stock after selling 4,350 shares during the period. Wahed Invest LLC's holdings in Micron Technology were worth $1,887,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of MU. E Fund Management Co. Ltd. raised its holdings in shares of Micron Technology by 31.8% in the 4th quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer's stock valued at $3,062,000 after purchasing an additional 8,780 shares during the period. CIBC Private Wealth Group LLC raised its stake in Micron Technology by 43.0% in 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 buying an additional 4,264 shares during the period. Stablepoint Partners LLC acquired a new stake in shares of Micron Technology in the fourth quarter valued at approximately $569,000. Landscape Capital Management L.L.C. lifted its position in shares of Micron Technology by 167.0% in 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 buying an additional 28,621 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH boosted its stake in shares of Micron Technology by 11.7% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 502,374 shares of the semiconductor manufacturer's stock worth $42,280,000 after acquiring an additional 52,729 shares during the period. 80.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MU. JPMorgan Chase & Co. cut their price target on Micron Technology from $145.00 to $135.00 and set an "overweight" rating for the company in a report on Friday, March 21st. KGI Securities upgraded shares of Micron Technology to a "strong-buy" rating in a research note on Friday, February 21st. Morgan Stanley upped their price target on shares of Micron Technology from $91.00 to $112.00 and gave the company an "equal weight" rating in a research note on Friday, March 21st. Cantor Fitzgerald restated an "overweight" rating and set a $130.00 price objective on shares of Micron Technology in a research report on Friday, March 21st. Finally, UBS Group decreased their target price on Micron Technology from $130.00 to $92.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $127.04.

Micron Technology Price Performance

MU stock traded up $2.95 during trading on Friday, reaching $80.72. 18,886,755 shares of the company were exchanged, compared to its average volume of 23,326,456. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve 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. The company has a market capitalization of $90.21 billion, a price-to-earnings ratio of 23.26 and a beta of 1.18. The company has a 50-day moving average of $83.63 and a two-hundred day moving average of $93.90.

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 analysts' consensus estimates of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.05 billion during the quarter, compared to analysts' expectations of $7.93 billion. During the same period in the prior year, the company earned $0.42 EPS. Micron Technology's revenue was up 38.2% compared to the same quarter last year. As a group, equities analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology's payout ratio is 11.03%.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were 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 owns 27,358 shares in the company, valued at approximately $2,542,378.94. This trade represents a 8.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP April S. Arnzen sold 15,000 shares of the business's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the completion of the transaction, the executive vice president now owns 164,769 shares in the company, valued at approximately $15,847,482.42. The trade was a 8.34 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company's stock.

Micron Technology Company 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.