American Money Management LLC Reduces Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

American Money Management LLC trimmed its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 2.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,488 shares of the semiconductor manufacturer’s stock after selling 131 shares during the period. American Money Management LLC’s holdings in Micron Technology were worth $378,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Harmony Asset Management LLC raised its holdings in Micron Technology by 75.6% during the 3rd quarter. Harmony Asset Management LLC now owns 11,889 shares of the semiconductor manufacturer’s stock valued at $1,233,000 after acquiring an additional 5,120 shares during the period. E Fund Management Co. Ltd. grew its position in shares of Micron Technology by 31.8% in the fourth quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer’s stock valued at $3,062,000 after purchasing an additional 8,780 shares in the last quarter. Stablepoint Partners LLC purchased a new stake in Micron Technology during the 4th quarter worth about $569,000. State Street Corp boosted its stake in Micron Technology by 3.1% in the 3rd quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock worth $5,001,592,000 after purchasing an additional 1,434,568 shares during the period. Finally, Main Management ETF Advisors LLC bought a new position in Micron Technology in the 3rd quarter worth about $2,414,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Stock Performance

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 twelve month low of $83.54 and a twelve month high of $157.54. The stock has a market cap of $98.84 billion, a P/E ratio of 25.49 and a beta of 1.23. The firm’s fifty day simple moving average is $96.00 and its 200 day simple moving average is $98.45.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $7.93 billion. During the same quarter in the previous year, the company earned $0.42 earnings per share. Micron Technology’s quarterly revenue was up 38.2% on a year-over-year basis. As a group, research analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.52%. The ex-dividend date is Monday, March 31st. Micron Technology’s dividend payout ratio is currently 11.03%.

Insider Activity at Micron Technology

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on MU. China Renaissance cut Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 price target on the stock. in a research report on Wednesday. Robert W. Baird boosted their price target 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. Barclays boosted their target price on Micron Technology from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. TD Cowen decreased their price objective on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Finally, Stifel Nicolaus dropped their target price on shares of Micron Technology from $135.00 to $130.00 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 assigned a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $129.76.

Micron Technology Company 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.