Micron Technology, Inc. (NASDAQ:MU) Shares Sold by PFG Investments LLC

PFG Investments LLC trimmed its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 29.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,390 shares of the semiconductor manufacturer’s stock after selling 1,866 shares during the period. PFG Investments LLC’s holdings in Micron Technology were worth $375,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Micron Technology in the 3rd quarter worth about $28,000. OFI Invest Asset Management acquired a new position in Micron Technology in the 3rd quarter worth about $27,000. VisionPoint Advisory Group LLC boosted its stake 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 worth $33,000 after acquiring an additional 198 shares in the last quarter. Coppell Advisory Solutions LLC bought a new position in shares of Micron Technology in the 2nd quarter valued at approximately $32,000. Finally, Fortis Capital Advisors LLC acquired a new stake in Micron Technology in the 4th quarter worth approximately $25,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Down 1.1 %

NASDAQ:MU opened at $117.89 on Friday. The company has a market cap of $130.55 billion, a price-to-earnings ratio of -34.17 and a beta of 1.24. 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 stock’s fifty day moving average price is $91.35 and its two-hundred day moving average price is $80.65. Micron Technology, Inc. has a 52-week low of $56.01 and a 52-week high of $122.46.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (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 company’s revenue for the quarter was up 57.7% on a year-over-year basis. During the same quarter last year, the firm earned ($2.03) EPS. On average, analysts anticipate that Micron Technology, Inc. will post 0.01 EPS for the current year.

Micron Technology Announces Dividend

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

Insider Buying and Selling

In other news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $83.63, for a total transaction of $585,410.00. Following the transaction, the chief executive officer now owns 651,759 shares in the company, valued at approximately $54,506,605.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have sold 264,000 shares of company stock valued at $26,368,640. 0.32% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on MU shares. Bank of America boosted 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. Barclays raised their target price on Micron Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a report on Monday, March 18th. BMO Capital Markets lifted their price target on Micron Technology from $80.00 to $90.00 and gave the stock an “outperform” rating in a research report on Monday, December 18th. TD Cowen upped their target price on shares of Micron Technology from $120.00 to $150.00 and gave the company an “outperform” 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 report on Tuesday, March 19th. One equities research 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $118.69.

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.