Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Hexagon Capital Partners LLC

Hexagon Capital Partners LLC cut its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 12.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,931 shares of the semiconductor manufacturer’s stock after selling 264 shares during the period. Hexagon Capital Partners LLC’s holdings in Micron Technology were worth $165,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Mach 1 Financial Group LLC acquired a new position in shares of Micron Technology in the fourth quarter valued at approximately $741,000. Hartford Funds Management Co LLC acquired a new position in shares of Micron Technology in the fourth quarter valued at approximately $544,000. Brighton Jones LLC grew its holdings in shares of Micron Technology by 47.1% in the fourth quarter. Brighton Jones LLC now owns 5,299 shares of the semiconductor manufacturer’s stock valued at $452,000 after purchasing an additional 1,696 shares in the last quarter. Mission Wealth Management LP acquired a new position in shares of Micron Technology in the fourth quarter valued at approximately $230,000. Finally, Norden Group LLC acquired a new position in shares of Micron Technology in the fourth quarter valued at approximately $212,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Stock Performance

MU stock opened at $109.70 on Thursday. The company has a fifty day moving average price of $107.85 and a 200 day moving average price of $89.19. Micron Technology, Inc. has a 12 month low of $59.55 and a 12 month 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.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate 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 in the prior year, the firm earned ($2.03) EPS. Equities research analysts anticipate that Micron Technology, Inc. will post 0.24 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a yield of 0.42%. Micron Technology’s payout ratio is currently -13.33%.

Insiders Place Their Bets

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $82.03, for a total transaction of $574,210.00. Following the completion of the transaction, the chief executive officer now owns 788,557 shares in the company, valued at approximately $64,685,330.71. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total transaction of $583,377.00. Following the transaction, the executive vice president now directly owns 148,817 shares of the company’s stock, valued at approximately $17,753,868.10. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $82.03, for a total transaction of $574,210.00. Following the transaction, the chief executive officer now directly owns 788,557 shares in the company, valued at $64,685,330.71. The disclosure for this sale can be found here. In the last quarter, insiders sold 261,890 shares of company stock worth $29,129,527. 0.32% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MU. Stifel Nicolaus restated a “buy” rating and issued a $140.00 price objective on shares of Micron Technology in a report on Friday, April 12th. Barclays boosted their price target on shares of Micron Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a report on Monday, March 18th. Raymond James boosted their price target on shares of Micron Technology from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. Mizuho boosted their price target on shares of Micron Technology from $105.00 to $124.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Finally, Morgan Stanley boosted their price target on shares of Micron Technology from $78.00 to $98.00 and gave the stock an “underweight” rating in a report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat.com, Micron Technology currently has an average rating of “Moderate Buy” and a consensus target price of $122.20.

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.