Allen Capital Group LLC Sells 344 Shares of Micron Technology, Inc. (NASDAQ:MU)

Allen Capital Group LLC decreased its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 7.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,321 shares of the semiconductor manufacturer’s stock after selling 344 shares during the quarter. Allen Capital Group LLC’s holdings in Micron Technology were worth $364,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of MU. State Street Corp increased its holdings in Micron Technology by 3.1% during the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock worth $5,001,592,000 after buying an additional 1,434,568 shares during the last quarter. Primecap Management Co. CA increased its holdings in shares of Micron Technology by 0.6% in the third quarter. Primecap Management Co. CA now owns 37,631,860 shares of the semiconductor manufacturer’s stock valued at $3,902,800,000 after purchasing an additional 206,499 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Micron Technology by 3.9% in the third quarter. Geode Capital Management LLC now owns 23,723,545 shares of the semiconductor manufacturer’s stock valued at $2,451,987,000 after purchasing an additional 892,607 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Micron Technology by 21.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock valued at $1,174,643,000 after purchasing an additional 2,022,180 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in shares of Micron Technology by 30.6% in the third quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock valued at $1,109,769,000 after purchasing an additional 2,477,985 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Performance

Shares of MU opened at $89.04 on Thursday. The company has a market cap of $99.21 billion, a PE ratio of 25.66 and a beta of 1.18. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The stock has a 50-day moving average price of $98.04 and a 200-day moving average price of $100.48. Micron Technology, Inc. has a 12-month low of $79.15 and a 12-month high of $157.54.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. The firm had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company’s revenue for the quarter was up 84.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.95) EPS. As a group, equities analysts forecast that Micron Technology, Inc. will post 6.29 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were given a $0.115 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a yield of 0.52%. Micron Technology’s payout ratio is 13.26%.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $15,442,011.83. The trade was a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

MU has been the topic of several research reports. Bank of America downgraded shares of Micron Technology from a “buy” rating to a “neutral” rating and decreased their price target for the company from $125.00 to $110.00 in a research note on Thursday, December 19th. China Renaissance began coverage on shares of Micron Technology in a report on Monday, October 28th. They issued a “buy” rating and a $148.00 target price for the company. Stifel Nicolaus lowered their price objective on Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Needham & Company LLC decreased their target price on shares of Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Finally, UBS Group reduced their price objective on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $134.96.

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.