Mizuho Securities Co. Ltd. Decreases Stake in Micron Technology, Inc. (NASDAQ:MU)

Mizuho Securities Co. Ltd. lessened its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 65.9% during the 4th quarter, Holdings Channel reports. The firm owned 2,460 shares of the semiconductor manufacturer’s stock after selling 4,750 shares during the quarter. Micron Technology comprises approximately 3.2% of Mizuho Securities Co. Ltd.’s investment portfolio, making the stock its 12th largest position. Mizuho Securities Co. Ltd.’s holdings in Micron Technology were worth $210,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. Great Valley Advisor Group Inc. raised its stake in shares of Micron Technology by 31.0% in the third quarter. Great Valley Advisor Group Inc. now owns 12,357 shares of the semiconductor manufacturer’s stock worth $1,282,000 after purchasing an additional 2,926 shares during the last quarter. Cerity Partners LLC raised its position in Micron Technology by 58.6% during the 3rd quarter. Cerity Partners LLC now owns 94,515 shares of the semiconductor manufacturer’s stock worth $9,802,000 after buying an additional 34,938 shares during the last quarter. Algert Global LLC lifted its stake in Micron Technology by 349.4% during the 3rd quarter. Algert Global LLC now owns 11,092 shares of the semiconductor manufacturer’s stock valued at $1,150,000 after acquiring an additional 8,624 shares during the period. Larson Financial Group LLC boosted its holdings in shares of Micron Technology by 885.5% in the 3rd quarter. Larson Financial Group LLC now owns 1,360 shares of the semiconductor manufacturer’s stock valued at $141,000 after acquiring an additional 1,222 shares during the last quarter. Finally, Fisher Asset Management LLC increased its stake in shares of Micron Technology by 6.5% in the third quarter. Fisher Asset Management LLC now owns 50,470 shares of the semiconductor manufacturer’s stock worth $5,234,000 after acquiring an additional 3,069 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Performance

NASDAQ MU opened at $94.18 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The stock’s 50 day simple moving average is $96.80 and its 200-day simple moving average is $98.45. The company has a market cap of $104.93 billion, a PE ratio of 27.14 and a beta of 1.23. Micron Technology, Inc. has a 1-year low of $83.54 and a 1-year high of $157.54.

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

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.46 annualized dividend and a yield of 0.49%. Micron Technology’s dividend payout ratio is presently 11.03%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on MU shares. TD Cowen decreased their target price on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. 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 research note on Friday, March 21st. UBS Group raised their target price on Micron Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, March 17th. KGI Securities raised Micron Technology to a “strong-buy” rating in a report on Friday, February 21st. Finally, Robert W. Baird raised their price objective on shares of Micron Technology from $130.00 to $163.00 and gave the stock an “outperform” rating in a research note on Friday, March 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Micron Technology currently has a consensus rating of “Moderate Buy” and an average target price of $132.63.

Insider Buying and Selling at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the transaction, the director now owns 27,358 shares in the company, 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 Securities & Exchange Commission, which is available at this hyperlink. 0.30% of the stock is owned by 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.