Rockefeller Capital Management L.P. Sells 53,268 Shares of Micron Technology, Inc. (NASDAQ:MU)

Rockefeller Capital Management L.P. cut its stake in Micron Technology, Inc. (NASDAQ:MU) by 14.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 318,260 shares of the semiconductor manufacturer’s stock after selling 53,268 shares during the period. Rockefeller Capital Management L.P.’s holdings in Micron Technology were worth $26,812,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Micron Technology in the 4th quarter worth about $1,470,875,000. FMR LLC raised its holdings in Micron Technology by 34.6% in the fourth quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer’s stock worth $4,012,114,000 after buying an additional 12,249,341 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in shares of Micron Technology by 339.6% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 2,255,000 shares of the semiconductor manufacturer’s stock worth $189,781,000 after buying an additional 1,742,073 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Micron Technology during the fourth quarter valued at approximately $135,865,000. Finally, Vanguard Group Inc. grew its holdings in shares of Micron Technology by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer’s stock valued at $8,403,982,000 after buying an additional 888,087 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Stock Down 0.7 %

MU opened at $69.55 on Monday. The stock has a market cap of $77.73 billion, a price-to-earnings ratio of 20.04 and a beta of 1.18. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The firm’s fifty day moving average is $90.66 and its 200 day moving average is $97.00. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $157.54.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, beating the consensus estimate of $1.43 by $0.13. The business had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business’s revenue was up 38.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.42 earnings per share. On average, sell-side analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.66%. The ex-dividend date is Monday, March 31st. Micron Technology’s dividend payout ratio (DPR) is presently 11.03%.

Analyst Upgrades and Downgrades

MU has been the topic of several analyst reports. The Goldman Sachs Group lowered their price objective on Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Sanford C. Bernstein dropped their price objective on Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. KGI Securities raised Micron Technology to a “strong-buy” rating in a research report on Friday, February 21st. Mizuho dropped their price target on shares of Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, December 19th. Finally, Royal Bank of Canada set a $125.00 price target on shares of Micron Technology in a research note on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Micron Technology presently has a consensus rating of “Moderate Buy” and an average target price of $129.36.

Insider Buying and Selling

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the sale, the director now owns 27,358 shares of the company’s stock, valued at $2,542,378.94. The trade was a 8.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president now owns 164,769 shares of the company’s stock, valued at $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. 0.30% of the stock is owned by company 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.