Migdal Insurance & Financial Holdings Ltd. Sells 227 Shares of Micron Technology, Inc. (NASDAQ:MU)

Migdal Insurance & Financial Holdings Ltd. decreased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 2.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,398 shares of the semiconductor manufacturer’s stock after selling 227 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Micron Technology were worth $976,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MU. Rakuten Securities Inc. bought a new stake in Micron Technology during the fourth quarter valued at approximately $947,000. First Interstate Bank bought a new stake in shares of Micron Technology during the 4th quarter worth $213,000. Wealth Alliance grew its position in Micron Technology by 4.8% in the fourth quarter. Wealth Alliance now owns 3,908 shares of the semiconductor manufacturer’s stock worth $334,000 after acquiring an additional 179 shares in the last quarter. Riverstone Advisors LLC bought a new position in Micron Technology in the fourth quarter valued at $225,000. Finally, Imprint Wealth LLC bought a new position in Micron Technology in the fourth quarter valued at $211,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Micron Technology

In related news, CEO Sanjay Mehrotra sold 45,000 shares of the company’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $90.00, for a total value of $4,050,000.00. Following the transaction, the chief executive officer now owns 788,557 shares in the company, valued at approximately $70,970,130. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Sanjay Mehrotra sold 45,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $90.00, for a total transaction of $4,050,000.00. Following the completion of the sale, the chief executive officer now owns 788,557 shares of the company’s stock, valued at $70,970,130. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total value of $583,377.00. Following the completion of the transaction, the executive vice president now directly owns 148,817 shares in the company, valued at $17,753,868.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 313,890 shares of company stock worth $33,617,027. 0.32% of the stock is owned by insiders.

Micron Technology Stock Performance

MU opened at $116.33 on Thursday. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30. The stock has a fifty day simple moving average of $101.98 and a two-hundred day simple moving average of $86.22. Micron Technology, Inc. has a 12-month low of $58.03 and a 12-month high of $130.54.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.69. The company had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. Micron Technology’s revenue was up 57.7% on a year-over-year basis. During the same period last year, the company posted ($2.03) EPS. Equities research analysts expect that Micron Technology, Inc. will post 0.24 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date was Thursday, March 28th. Micron Technology’s dividend payout ratio (DPR) is presently -13.33%.

Analyst Ratings Changes

MU has been the subject of a number of research reports. Wedbush upped their price objective on Micron Technology from $103.00 to $130.00 and gave the stock an “outperform” rating in a report on Thursday, March 21st. UBS Group boosted their target price on Micron Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Wells Fargo & Company increased their price target on shares of Micron Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. Fox Advisors raised shares of Micron Technology from an “equal weight” rating to an “overweight” rating in a research note on Thursday, March 21st. Finally, Robert W. Baird upped their price objective on shares of Micron Technology from $78.00 to $115.00 and gave the company a “neutral” rating in a research note on Tuesday, March 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.20.

About Micron Technology

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.