Sumitomo Mitsui Trust Holdings Inc. decreased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU – Get Rating) by 1.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,233,621 shares of the semiconductor manufacturer’s stock after selling 57,729 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Micron Technology were worth $301,212,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Selective Wealth Management Inc. acquired a new stake in shares of Micron Technology in the 4th quarter worth approximately $28,000. Activest Wealth Management grew its holdings in shares of Micron Technology by 237.3% in the 4th quarter. Activest Wealth Management now owns 398 shares of the semiconductor manufacturer’s stock worth $37,000 after acquiring an additional 280 shares during the period. Pacifica Partners Inc. grew its holdings in shares of Micron Technology by 93.0% in the 4th quarter. Pacifica Partners Inc. now owns 415 shares of the semiconductor manufacturer’s stock worth $39,000 after acquiring an additional 200 shares during the period. Paragon Capital Management Ltd acquired a new stake in shares of Micron Technology in the 4th quarter worth approximately $42,000. Finally, Old North State Trust LLC grew its holdings in shares of Micron Technology by 91.1% in the 3rd quarter. Old North State Trust LLC now owns 472 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 225 shares during the period. Institutional investors own 76.07% of the company’s stock.
Shares of MU traded down $1.04 during trading hours on Friday, hitting $72.14. The stock had a trading volume of 20,562,565 shares, compared to its average volume of 29,018,522. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.33 and a current ratio of 3.11. The firm has a market cap of $80.56 billion, a P/E ratio of 9.07, a P/E/G ratio of 0.25 and a beta of 1.16. The company’s fifty day simple moving average is $82.30 and its 200 day simple moving average is $81.24. Micron Technology, Inc. has a 12-month low of $65.67 and a 12-month high of $98.45.
Micron Technology (NASDAQ:MU – Get Rating) last issued its earnings results on Tuesday, March 29th. The semiconductor manufacturer reported $2.14 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.17. Micron Technology had a return on equity of 21.15% and a net margin of 28.95%. The business had revenue of $7.79 billion for the quarter, compared to analyst estimates of $7.53 billion. During the same period last year, the company posted $0.90 EPS. The business’s quarterly revenue was up 25.6% on a year-over-year basis. As a group, sell-side analysts predict that Micron Technology, Inc. will post 9.15 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 26th. Investors of record on Monday, April 11th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, April 8th. This represents a $0.40 annualized dividend and a yield of 0.55%. Micron Technology’s dividend payout ratio is currently 5.03%.
A number of brokerages have commented on MU. New Street Research began coverage on Micron Technology in a report on Monday, January 10th. They set a “buy” rating and a $135.00 target price on the stock. StockNews.com began coverage on Micron Technology in a report on Thursday, March 31st. They set a “strong-buy” rating on the stock. Bank of America increased their target price on Micron Technology from $100.00 to $118.00 and gave the company a “buy” rating in a report on Monday, January 10th. Susquehanna began coverage on Micron Technology in a report on Wednesday, March 30th. They set a “buy” rating and a $125.00 target price on the stock. Finally, BMO Capital Markets began coverage on Micron Technology in a report on Tuesday, December 21st. They set a “buy” rating and a $115.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $113.32.
In other news, SVP Michael W. Bokan sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, January 11th. The stock was sold at an average price of $93.83, for a total transaction of $1,876,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP April S. Arnzen sold 5,600 shares of the firm’s stock in a transaction dated Thursday, March 24th. The shares were sold at an average price of $76.00, for a total value of $425,600.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 222,973 shares of company stock valued at $21,367,995. 0.32% of the stock is owned by insiders.
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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