Micron Technology, Inc. (NASDAQ:MU) Stock Position Decreased by Blume Capital Management Inc.

Blume Capital Management Inc. trimmed its stake in Micron Technology, Inc. (NASDAQ:MU) by 11.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,597 shares of the semiconductor manufacturer’s stock after selling 9,618 shares during the period. Micron Technology comprises about 1.6% of Blume Capital Management Inc.’s investment portfolio, making the stock its 25th biggest position. Blume Capital Management Inc.’s holdings in Micron Technology were worth $6,281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Micron Technology Price Performance

Shares of NASDAQ:MU traded down $0.32 on Thursday, hitting $119.00. The stock had a trading volume of 3,489,052 shares, compared to its average volume of 19,907,008. Micron Technology, Inc. has a twelve month low of $59.79 and a twelve month high of $130.54. 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 price is $110.11 and its 200-day moving average price is $90.70. The company has a market capitalization of $131.38 billion, a price-to-earnings ratio of -34.46 and a beta of 1.27.

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

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were given a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend was Thursday, March 28th. Micron Technology’s payout ratio is -13.33%.

Insider Transactions at Micron Technology

In other news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $80.44, for a total value of $563,080.00. Following the transaction, the chief executive officer now owns 788,557 shares in the company, valued at approximately $63,431,525.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $80.44, for a total value of $563,080.00. Following the completion of the transaction, the chief executive officer now directly owns 788,557 shares in the company, valued at $63,431,525.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total value of $583,377.00. Following the sale, 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 ninety days, insiders have sold 370,207 shares of company stock valued at $41,839,707. 0.32% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have weighed in on MU shares. Mizuho raised their price target on shares of Micron Technology from $105.00 to $124.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Barclays upped their price target on Micron Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a research report on Monday, March 18th. Raymond James boosted their price objective on Micron Technology from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. Needham & Company LLC increased their target price 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. Finally, Robert W. Baird raised shares of Micron Technology from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $115.00 to $150.00 in a report on Monday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $123.60.

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.