Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Melqart Asset Management UK Ltd

Melqart Asset Management UK Ltd decreased its position in Micron Technology, Inc. (NASDAQ:MU) by 51.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 75,520 shares of the semiconductor manufacturer’s stock after selling 80,696 shares during the period. Micron Technology makes up approximately 0.8% of Melqart Asset Management UK Ltd’s holdings, making the stock its 29th biggest position. Melqart Asset Management UK Ltd’s holdings in Micron Technology were worth $6,356,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in MU. E Fund Management Co. Ltd. lifted its stake in Micron Technology by 31.8% during the fourth 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 in the last quarter. CIBC Private Wealth Group LLC boosted its position in Micron Technology by 43.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 14,178 shares of the semiconductor manufacturer’s stock worth $1,193,000 after purchasing an additional 4,264 shares during the period. Stablepoint Partners LLC bought a new position in Micron Technology in the 4th quarter worth approximately $569,000. Landscape Capital Management L.L.C. lifted its stake in shares of Micron Technology by 167.0% in the fourth quarter. Landscape Capital Management L.L.C. now owns 45,758 shares of the semiconductor manufacturer’s stock valued at $3,851,000 after buying an additional 28,621 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH boosted its position in shares of Micron Technology by 11.7% during 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 acquiring an additional 52,729 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. China Renaissance cut shares of Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 price target on the stock. in a research note on Wednesday, March 26th. Wedbush reiterated an “outperform” rating and set a $125.00 target price on shares of Micron Technology in a report on Monday, March 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $130.00 price target on shares of Micron Technology in a report on Friday, March 21st. Wells Fargo & Company decreased their price target on shares of Micron Technology from $140.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Finally, UBS Group raised their price objective on Micron Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, March 17th. One research 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $128.56.

Insider Activity at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction 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. This trade represents a 8.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP April S. Arnzen sold 15,000 shares of the company’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the sale, 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 disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

Micron Technology Price Performance

MU stock opened at $79.78 on Friday. The company’s fifty day simple moving average is $85.71 and its 200 day simple moving average is $94.89. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $157.54. The firm has a market cap of $89.16 billion, a price-to-earnings ratio of 22.99 and a beta of 1.18. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28.

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

Micron Technology Dividend Announcement

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 dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.46 annualized dividend and a dividend yield of 0.58%. Micron Technology’s payout ratio is currently 11.03%.

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.