Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Schonfeld Strategic Advisors LLC

Schonfeld Strategic Advisors LLC lowered its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 63.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 52,000 shares of the semiconductor manufacturer’s stock after selling 89,416 shares during the quarter. Schonfeld Strategic Advisors LLC’s holdings in Micron Technology were worth $4,376,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in MU. Trivant Custom Portfolio Group LLC raised its stake in shares of Micron Technology by 20.0% in the fourth quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer’s stock valued at $50,000 after acquiring an additional 100 shares during the last quarter. Xcel Wealth Management LLC increased its holdings in shares of Micron Technology by 1.8% in the fourth quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer’s stock valued at $518,000 after purchasing an additional 108 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its position in shares of Micron Technology by 3.8% during the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer’s stock worth $250,000 after acquiring an additional 108 shares during the last quarter. Twin Capital Management Inc. raised its holdings in Micron Technology by 0.5% during the 4th quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer’s stock worth $1,688,000 after purchasing an additional 108 shares during the last quarter. Finally, Lebenthal Global Advisors LLC lifted its position in Micron Technology by 1.5% during the 4th quarter. Lebenthal Global Advisors LLC now owns 7,474 shares of the semiconductor manufacturer’s stock valued at $629,000 after purchasing an additional 114 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on MU shares. China Renaissance lowered Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 price target on the stock. in a research report on Wednesday, March 26th. Robert W. Baird increased their target price on Micron Technology from $130.00 to $163.00 and gave the stock an “outperform” rating in a research note on Friday, March 21st. KGI Securities upgraded Micron Technology to a “strong-buy” rating in a report on Friday, February 21st. Wells Fargo & Company restated an “equal weight” rating on shares of Micron Technology in a report on Monday. Finally, Morgan Stanley upped their target price on Micron Technology from $91.00 to $112.00 and gave the stock an “equal weight” rating in a report on Friday, March 21st. Two analysts have rated the stock with a sell rating, four have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Micron Technology has a consensus rating of “Moderate Buy” and a consensus price target of $127.04.

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 15,000 shares of the company’s stock in a transaction that occurred on 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 completion of 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the transaction, the director now owns 27,358 shares of the company’s stock, valued at approximately $2,542,378.94. This trade represents a 8.08 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Micron Technology Stock Performance

NASDAQ:MU opened at $80.72 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $157.54. The company has a market cap of $90.21 billion, a price-to-earnings ratio of 23.26 and a beta of 1.18. The stock has a fifty day moving average price of $83.63 and a 200-day moving average price of $94.00.

Micron Technology (NASDAQ:MU) last released its earnings results 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 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 business’s quarterly revenue was up 38.2% compared to the same quarter last year. During the same period last year, the firm earned $0.42 EPS. As a group, equities analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology’s payout ratio is presently 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.