Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Global X Japan Co. Ltd.

Global X Japan Co. Ltd. trimmed its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 29.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,608 shares of the semiconductor manufacturer’s stock after selling 15,224 shares during the quarter. Global X Japan Co. Ltd.’s holdings in Micron Technology were worth $3,081,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of MU. Highline Wealth Partners LLC purchased a new position in shares of Micron Technology during the third quarter worth about $26,000. Stone House Investment Management LLC grew its stake in shares of Micron Technology by 602.2% in the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 277 shares during the last quarter. True Wealth Design LLC increased its holdings in shares of Micron Technology by 1,096.3% in the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after purchasing an additional 296 shares during the period. DT Investment Partners LLC raised its stake in shares of Micron Technology by 261.1% during the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 235 shares during the last quarter. Finally, Darwin Wealth Management LLC purchased a new position in Micron Technology in the 3rd quarter valued at $39,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Up 1.0 %

NASDAQ MU opened at $94.54 on Friday. The business has a 50 day moving average price of $96.82 and a two-hundred day moving average price of $99.34. Micron Technology, Inc. has a fifty-two week low of $79.15 and a fifty-two week high of $157.54. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The stock has a market cap of $105.33 billion, a PE ratio of 27.24 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 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 firm had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. During the same quarter in the previous year, the business posted ($0.95) EPS. The firm’s revenue was up 84.3% compared to the same quarter last year. As a group, sell-side analysts predict that Micron Technology, Inc. will post 6.29 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were paid a $0.115 dividend. The ex-dividend date was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.49%. Micron Technology’s dividend payout ratio (DPR) is presently 13.26%.

Analysts Set New Price Targets

MU has been the topic of a number of analyst reports. UBS Group lowered their price objective on Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Bank of America lowered Micron Technology from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $125.00 to $110.00 in a report on Thursday, December 19th. Wedbush reaffirmed an “outperform” rating and set a $140.00 price target on shares of Micron Technology in a research note on Tuesday, December 17th. The Goldman Sachs Group decreased their price objective on shares of Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Finally, TD Cowen dropped their target price on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat, Micron Technology has an average rating of “Moderate Buy” and a consensus target price of $134.96.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.30% of the stock is currently owned by corporate insiders.

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.