Capital Group Private Client Services Inc. Sells 4,671 Shares of Micron Technology, Inc. (NASDAQ:MU)

Capital Group Private Client Services Inc. lessened its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 2.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 166,159 shares of the semiconductor manufacturer’s stock after selling 4,671 shares during the period. Capital Group Private Client Services Inc.’s holdings in Micron Technology were worth $13,984,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of MU. E Fund Management Co. Ltd. boosted its holdings in shares of Micron Technology by 31.8% in the 4th quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer’s stock valued at $3,062,000 after buying an additional 8,780 shares during the last quarter. CIBC Private Wealth Group LLC grew its position in shares of Micron Technology by 43.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 14,178 shares of the semiconductor manufacturer’s stock valued at $1,193,000 after acquiring an additional 4,264 shares during the period. Stablepoint Partners LLC acquired a new position in shares of Micron Technology during the 4th quarter worth about $569,000. Landscape Capital Management L.L.C. raised its holdings in shares of Micron Technology by 167.0% in the 4th quarter. Landscape Capital Management L.L.C. now owns 45,758 shares of the semiconductor manufacturer’s stock valued at $3,851,000 after purchasing an additional 28,621 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH lifted its stake in Micron Technology by 11.7% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 502,374 shares of the semiconductor manufacturer’s stock valued at $42,280,000 after purchasing an additional 52,729 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MU has been the topic of several research analyst reports. Cantor Fitzgerald restated an “overweight” rating and issued a $130.00 price objective on shares of Micron Technology in a research note on Friday, March 21st. Barclays raised their price target on Micron Technology from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, March 21st. UBS Group upped their price objective on shares of Micron Technology from $125.00 to $130.00 and gave the company a “buy” rating in a report on Monday, March 17th. JPMorgan Chase & Co. cut their target price on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research note on Friday, March 21st. Finally, Citigroup lowered their price target on shares of Micron Technology from $120.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Micron Technology currently has a consensus rating of “Moderate Buy” and an average target price of $129.36.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 15,000 shares of the business’s stock in a transaction dated Tuesday, March 25th. The stock was 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 directly owns 164,769 shares of the company’s stock, valued at $15,847,482.42. The trade was a 8.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s 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 directly owns 27,358 shares of the company’s stock, valued at $2,542,378.94. This represents a 8.08 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

Micron Technology Trading Down 0.8 %

NASDAQ MU opened at $68.80 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. The company has a market cap of $76.89 billion, a price-to-earnings ratio of 19.83 and a beta of 1.18. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $157.54. The business’s fifty day moving average is $88.23 and its 200 day moving average is $95.92.

Micron Technology (NASDAQ:MU) last posted its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. The firm had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company’s revenue for the quarter was up 38.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.42 EPS. As a group, sell-side analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.115 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.46 annualized dividend and a dividend yield of 0.67%. Micron Technology’s payout ratio is 11.03%.

Micron Technology 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.