Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. reduced its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 5.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,126 shares of the semiconductor manufacturer’s stock after selling 582 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Micron Technology were worth $852,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Beacon Capital Management LLC boosted its stake in Micron Technology by 114.9% in the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after acquiring an additional 200 shares during the period. True Wealth Design LLC grew its stake in Micron Technology by 1,096.3% during the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after buying an additional 296 shares during the last quarter. Midwest Capital Advisors LLC acquired a new stake in Micron Technology in the fourth quarter worth $33,000. Activest Wealth Management lifted its stake in Micron Technology by 583.3% in the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 350 shares during the last quarter. Finally, Comprehensive Financial Planning Inc. PA acquired a new position in shares of Micron Technology during the fourth quarter valued at $34,000. Institutional investors own 80.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on MU shares. Robert W. Baird lifted their price objective on shares of Micron Technology from $130.00 to $163.00 and gave the company an “outperform” rating in a research report on Friday, March 21st. KGI Securities raised Micron Technology to a “strong-buy” rating in a report on Friday, February 21st. Wedbush reissued an “outperform” rating and issued a $125.00 price objective on shares of Micron Technology in a report on Monday, March 17th. Stifel Nicolaus cut their target price on Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Finally, The Goldman Sachs Group lowered their target price on shares of Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $129.76.

Insider Buying and Selling

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the transaction, the director now owns 27,358 shares in the company, valued at $2,542,378.94. The trade was a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the sale, the executive vice president now owns 164,769 shares of the company’s stock, valued at approximately $15,847,482.42. This represents a 8.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Micron Technology Trading Down 3.0 %

Shares of NASDAQ MU opened at $88.44 on Friday. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 12 month low of $83.54 and a 12 month high of $157.54. The company has a market cap of $98.84 billion, a price-to-earnings ratio of 25.49 and a beta of 1.23. The business has a fifty day simple moving average of $96.00 and a 200-day simple moving average of $98.37.

Micron Technology (NASDAQ:MU) last announced its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping the consensus estimate of $1.43 by $0.13. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company had revenue of $8.05 billion during the quarter, compared to analysts’ expectations of $7.93 billion. During the same period last year, the company posted $0.42 earnings per share. The business’s revenue for the quarter was up 38.2% on a year-over-year basis. Sell-side analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.52%. Micron Technology’s dividend payout ratio is 11.03%.

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.