Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Yousif Capital Management LLC

Yousif Capital Management LLC reduced its holdings in Micron Technology, Inc. (NASDAQ:MU) by 4.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 164,965 shares of the semiconductor manufacturer’s stock after selling 7,676 shares during the period. Yousif Capital Management LLC’s holdings in Micron Technology were worth $14,078,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. OFI Invest Asset Management purchased a new position in Micron Technology in the 3rd quarter worth approximately $27,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Micron Technology during the 3rd quarter worth $28,000. VisionPoint Advisory Group LLC boosted its position in shares of Micron Technology by 68.3% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock valued at $33,000 after acquiring an additional 198 shares during the last quarter. Cape Investment Advisory Inc. grew its holdings in shares of Micron Technology by 51.0% in the third quarter. Cape Investment Advisory Inc. now owns 592 shares of the semiconductor manufacturer’s stock valued at $40,000 after purchasing an additional 200 shares during the period. Finally, Clear Street Markets LLC increased its position in Micron Technology by 67.5% during the third quarter. Clear Street Markets LLC now owns 623 shares of the semiconductor manufacturer’s stock worth $42,000 after purchasing an additional 251 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Performance

Micron Technology stock traded down $1.05 during trading hours on Wednesday, reaching $111.41. 15,176,353 shares of the stock were exchanged, compared to its average volume of 20,514,488. Micron Technology, Inc. has a 52-week low of $58.03 and a 52-week high of $130.54. The stock has a market cap of $123.37 billion, a P/E ratio of -32.29 and a beta of 1.27. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74. The firm’s 50 day moving average is $104.04 and its 200 day moving average is $87.52.

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

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were issued a $0.115 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.46 annualized dividend and a dividend yield of 0.41%. Micron Technology’s dividend payout ratio is currently -13.33%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Bank of America boosted their target price on shares of Micron Technology from $120.00 to $144.00 and gave the company a “buy” rating in a report on Monday, April 1st. StockNews.com raised Micron Technology from a “sell” rating to a “hold” rating in a research report on Friday, March 22nd. Barclays lifted their price target on shares of Micron Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a research note on Monday, March 18th. Argus raised shares of Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 price objective on the stock in a research report on Thursday, March 21st. Finally, Needham & Company LLC lifted their price objective on shares of Micron Technology from $100.00 to $120.00 and gave the stock 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-four have assigned a buy rating to the company. According to MarketBeat, Micron Technology currently has a consensus rating of “Moderate Buy” and an average price target of $122.20.

Insider Activity at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $87.02, for a total value of $609,140.00. Following the completion of the transaction, the chief executive officer now owns 788,557 shares in the company, valued at $68,620,230.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $87.02, for a total transaction of $609,140.00. Following the sale, the chief executive officer now owns 788,557 shares of the company’s stock, valued at $68,620,230.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total transaction of $583,377.00. Following the completion of the transaction, the executive vice president now directly owns 148,817 shares of the company’s stock, valued at $17,753,868.10. The disclosure for this sale can be found here. Insiders have sold a total of 306,890 shares of company stock worth $33,005,157 over the last three months. 0.32% of the stock is currently owned by corporate 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.