Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Swiss National Bank

Swiss National Bank lessened its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 2.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,433,600 shares of the semiconductor manufacturer’s stock after selling 89,500 shares during the quarter. Swiss National Bank owned about 0.31% of Micron Technology worth $293,023,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Micron Technology by 0.3% during the third quarter. Vanguard Group Inc. now owns 94,229,187 shares of the semiconductor manufacturer’s stock worth $6,410,412,000 after buying an additional 305,860 shares in the last quarter. FMR LLC lifted its holdings in Micron Technology by 47.9% during the 3rd 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 during the last quarter. Wellington Management Group LLP lifted 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 worth $1,182,608,000 after purchasing an additional 5,257,201 shares during the last quarter. Morgan Stanley increased its stake in Micron Technology by 19.7% in the third 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 last quarter. Finally, Northern Trust Corp raised its holdings in Micron Technology by 0.7% during the third quarter. Northern Trust Corp now owns 10,833,670 shares of the semiconductor manufacturer’s stock worth $737,015,000 after purchasing an additional 80,345 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

MU has been the subject of a number of research analyst reports. Needham & Company LLC upped their target price on Micron Technology from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Bank of America increased their target price on shares of Micron Technology from $120.00 to $144.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Citigroup restated a “buy” rating and issued a $150.00 price target on shares of Micron Technology in a research report on Thursday, April 4th. Wedbush lifted their target price on Micron Technology from $103.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, March 21st. Finally, Barclays increased their price target on Micron Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a report on Monday, March 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.20.

Micron Technology Stock Up 2.1 %

Shares of NASDAQ:MU traded up $2.37 during midday trading on Friday, hitting $114.70. 15,556,356 shares of the company’s stock traded hands, compared to its average volume of 20,261,770. Micron Technology, Inc. has a twelve month low of $59.55 and a twelve month high of $130.54. The company has a market cap of $127.02 billion, a PE ratio of -33.24 and a beta of 1.27. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74. The firm’s fifty day moving average price is $108.38 and its two-hundred day moving average price is $89.36.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.69. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The company had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.35 billion. During the same quarter last year, the company earned ($2.03) earnings per share. Micron Technology’s revenue for the quarter was up 57.7% on a year-over-year basis. On average, equities research analysts anticipate that Micron Technology, Inc. will post 0.24 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were paid a $0.115 dividend. The ex-dividend date was Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.40%. Micron Technology’s dividend payout ratio (DPR) is presently -13.33%.

Insider Transactions at Micron Technology

In other news, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $84.84, for a total value of $593,880.00. Following the completion of the sale, the chief executive officer now directly owns 788,557 shares in the company, valued at approximately $66,901,175.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $84.84, for a total value of $593,880.00. Following the transaction, the chief executive officer now owns 788,557 shares of the company’s stock, valued at $66,901,175.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total value of $583,377.00. Following the completion of the transaction, the executive vice president now owns 148,817 shares of the company’s stock, valued at $17,753,868.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 283,890 shares of company stock valued at $31,666,867. Insiders own 0.32% of the company’s stock.

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.