Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Jackson Square Capital LLC

Jackson Square Capital LLC decreased its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 13.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 99,279 shares of the semiconductor manufacturer’s stock after selling 14,951 shares during the quarter. Micron Technology comprises about 2.0% of Jackson Square Capital LLC’s portfolio, making the stock its 10th biggest holding. Jackson Square Capital LLC’s holdings in Micron Technology were worth $8,355,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. KRS Capital Management LLC grew its position in shares of Micron Technology by 22.1% in the 4th quarter. KRS Capital Management LLC now owns 5,323 shares of the semiconductor manufacturer’s stock valued at $448,000 after acquiring an additional 963 shares during the period. Sanibel Captiva Trust Company Inc. lifted its stake in Micron Technology by 177.5% in the 4th quarter. Sanibel Captiva Trust Company Inc. now owns 23,836 shares of the semiconductor manufacturer’s stock valued at $2,006,000 after purchasing an additional 15,245 shares during the last quarter. Arkadios Wealth Advisors grew its holdings in Micron Technology by 81.9% during the fourth quarter. Arkadios Wealth Advisors now owns 15,066 shares of the semiconductor manufacturer’s stock worth $1,268,000 after purchasing an additional 6,784 shares during the period. B & T Capital Management DBA Alpha Capital Management increased its position in Micron Technology by 74.9% during the fourth quarter. B & T Capital Management DBA Alpha Capital Management now owns 5,638 shares of the semiconductor manufacturer’s stock worth $474,000 after buying an additional 2,415 shares during the last quarter. Finally, Trivant Custom Portfolio Group LLC raised its stake in Micron Technology by 20.0% in the fourth quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer’s stock valued at $50,000 after buying an additional 100 shares during the period. Institutional investors own 80.84% of the company’s stock.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the sale, the executive vice president now owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.30% of the stock is owned by corporate insiders.

Micron Technology Trading Up 3.1 %

Shares of MU stock opened at $105.75 on Friday. Micron Technology, Inc. has a fifty-two week low of $79.15 and a fifty-two week high of $157.54. The stock’s fifty day moving average price is $97.87 and its two-hundred day moving average price is $102.48. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The company has a market cap of $117.82 billion, a PE ratio of 30.48 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.71 billion. During the same period in the prior year, the company earned ($0.95) EPS. The firm’s quarterly revenue was up 84.3% compared to the same quarter last year. Equities analysts predict that Micron Technology, Inc. will post 6.25 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were issued a $0.115 dividend. The ex-dividend date was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a yield of 0.43%. Micron Technology’s dividend payout ratio (DPR) is presently 13.26%.

Analyst Upgrades and Downgrades

MU has been the subject of several research analyst reports. Needham & Company LLC reduced their target price on Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Wedbush reaffirmed an “outperform” rating and set a $140.00 price objective on shares of Micron Technology in a research report on Tuesday, December 17th. JPMorgan Chase & Co. dropped their price objective on shares of Micron Technology from $180.00 to $145.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Morgan Stanley cut their target price on shares of Micron Technology from $114.00 to $98.00 and set an “equal weight” rating for the company in a research note on Thursday, December 19th. Finally, KeyCorp decreased their price target on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $135.24.

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.