Altfest L J & Co. Inc. Decreases Position in Micron Technology, Inc. (NASDAQ:MU)

Altfest L J & Co. Inc. lowered its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 28.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 6,161 shares of the semiconductor manufacturer’s stock after selling 2,407 shares during the quarter. Altfest L J & Co. Inc.’s holdings in Micron Technology were worth $526,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Micron Technology by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 94,229,187 shares of the semiconductor manufacturer’s stock worth $6,410,412,000 after purchasing an additional 305,860 shares during the period. State Street Corp boosted its holdings in Micron Technology by 0.6% during the 2nd quarter. State Street Corp now owns 46,193,578 shares of the semiconductor manufacturer’s stock valued at $2,915,277,000 after acquiring an additional 282,292 shares during the period. FMR LLC increased its stake in Micron Technology by 47.9% in the third quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer’s stock worth $1,489,801,000 after purchasing an additional 7,089,790 shares during the period. Geode Capital Management LLC grew its holdings in shares of Micron Technology by 1.3% in the first quarter. Geode Capital Management LLC now owns 20,348,845 shares of the semiconductor manufacturer’s stock worth $1,225,181,000 after purchasing an additional 253,179 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in Micron Technology by 43.4% in the 3rd quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock worth $1,182,608,000 after buying an additional 5,257,201 shares during the period. 80.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MU. Mizuho lifted their target price on Micron Technology from $105.00 to $124.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Susquehanna boosted their price target on shares of Micron Technology from $90.00 to $112.00 and gave the company a “positive” rating in a report on Monday, December 18th. Stifel Nicolaus lifted their price objective on shares of Micron Technology from $120.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Wedbush lifted their price target on Micron Technology from $103.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday, March 21st. Finally, Needham & Company LLC raised their price objective on Micron Technology from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $118.69.

Micron Technology Stock Performance

Micron Technology stock traded down $1.59 during midday trading on Thursday, hitting $117.55. 11,703,721 shares of the company were exchanged, compared to its average volume of 18,804,531. Micron Technology, Inc. has a fifty-two week low of $56.01 and a fifty-two week high of $122.46. The firm has a market capitalization of $130.17 billion, a PE ratio of -34.31 and a beta of 1.24. The business has a fifty day simple moving average of $90.63 and a two-hundred day simple moving average of $80.38. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, beating the consensus estimate of ($0.27) by $0.69. The company had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The firm’s revenue was up 57.7% on a year-over-year basis. During the same quarter last year, the business earned ($2.03) earnings per share. On average, sell-side analysts forecast that Micron Technology, Inc. will post 0.01 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st will be given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date is Thursday, March 28th. Micron Technology’s dividend payout ratio is presently -13.33%.

Insider Activity

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $82.13, for a total transaction of $574,910.00. Following the completion of the transaction, the chief executive officer now owns 651,759 shares of the company’s stock, valued at $53,528,966.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 264,000 shares of company stock worth $26,368,640 over the last 90 days. 0.32% of the stock is currently 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.