Dupont Capital Management Corp Sells 7,876 Shares of Micron Technology, Inc. (NASDAQ:MU)

Dupont Capital Management Corp decreased its stake in shares of Micron Technology, Inc. (NASDAQ:MU – Get Rating) by 39.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,140 shares of the semiconductor manufacturer’s stock after selling 7,876 shares during the period. Dupont Capital Management Corp’s holdings in Micron Technology were worth $1,131,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in MU. Capital World Investors boosted its stake in Micron Technology by 493.2% during the third quarter. Capital World Investors now owns 14,864,469 shares of the semiconductor manufacturer’s stock worth $1,055,080,000 after acquiring an additional 12,358,857 shares in the last quarter. Capital Research Global Investors boosted its stake in Micron Technology by 38.8% during the third quarter. Capital Research Global Investors now owns 24,545,270 shares of the semiconductor manufacturer’s stock worth $1,742,232,000 after acquiring an additional 6,862,615 shares in the last quarter. Sanders Capital LLC boosted its stake in Micron Technology by 9.5% during the third quarter. Sanders Capital LLC now owns 40,391,375 shares of the semiconductor manufacturer’s stock worth $3,138,904,000 after acquiring an additional 3,492,076 shares in the last quarter. Marathon Asset Mgmt Ltd bought a new stake in Micron Technology during the fourth quarter worth about $136,248,000. Finally, Voloridge Investment Management LLC boosted its stake in Micron Technology by 289.1% during the third quarter. Voloridge Investment Management LLC now owns 1,790,549 shares of the semiconductor manufacturer’s stock worth $127,093,000 after acquiring an additional 1,330,377 shares in the last quarter. 76.07% of the stock is currently owned by hedge funds and other institutional investors.

In related news, SVP Michael W. Bokan sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 11th. The stock was sold at an average price of $93.83, for a total value of $1,876,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Robert P. Beard sold 266 shares of Micron Technology stock in a transaction on Wednesday, February 16th. The shares were sold at an average price of $96.17, for a total transaction of $25,581.22. The disclosure for this sale can be found here. In the last three months, insiders have sold 222,973 shares of company stock worth $21,367,995. Corporate insiders own 0.32% of the company’s stock.

MU has been the topic of several research reports. BMO Capital Markets initiated coverage on shares of Micron Technology in a research note on Tuesday, December 21st. They set a “buy” rating and a $115.00 price objective on the stock. Sanford C. Bernstein raised shares of Micron Technology from a “market perform” rating to an “outperform” rating and set a $94.00 target price for the company in a report on Wednesday, March 16th. Barclays lifted their target price on shares of Micron Technology from $100.00 to $105.00 in a report on Wednesday, January 12th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $165.00 target price on shares of Micron Technology in a report on Wednesday, March 30th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Micron Technology from $100.00 to $115.00 and gave the company an “overweight” rating in a report on Tuesday, December 21st. Four investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Micron Technology has an average rating of “Buy” and a consensus price target of $113.32.

MU stock opened at $74.61 on Wednesday. Micron Technology, Inc. has a 52 week low of $65.67 and a 52 week high of $98.45. The company has a quick ratio of 2.33, a current ratio of 3.11 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $83.31 billion, a PE ratio of 9.38, a price-to-earnings-growth ratio of 0.26 and a beta of 1.16. The firm has a 50 day moving average of $82.72 and a 200 day moving average of $81.24.

Micron Technology (NASDAQ:MU – Get Rating) last posted its earnings results on Tuesday, March 29th. The semiconductor manufacturer reported $2.14 earnings per share for the quarter, beating the consensus estimate of $1.97 by $0.17. Micron Technology had a net margin of 28.95% and a return on equity of 21.15%. The firm had revenue of $7.79 billion during the quarter, compared to analyst estimates of $7.53 billion. During the same period in the previous year, the firm earned $0.90 EPS. The business’s quarterly revenue was up 25.6% on a year-over-year basis. On average, equities research analysts expect that Micron Technology, Inc. will post 9.15 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 26th. Stockholders of record on Monday, April 11th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, April 8th. This represents a $0.40 annualized dividend and a dividend yield of 0.54%. Micron Technology’s payout ratio is 5.03%.

About Micron Technology (Get Rating)

Micron Technology, Inc designs, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It provides memory and storage technologies comprises DRAM products, which are dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; NAND products that are non-volatile and re-writeable semiconductor storage devices; and NOR memory products, which are non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.

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