Blue Trust Inc. Decreases Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Blue Trust Inc. reduced its position in shares of Micron Technology, Inc. (NASDAQ:MUFree Report) by 6.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,791 shares of the semiconductor manufacturer’s stock after selling 495 shares during the period. Blue Trust Inc.’s holdings in Micron Technology were worth $580,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position in Micron Technology by 0.3% in the third quarter. Vanguard Group Inc. now owns 94,229,187 shares of the semiconductor manufacturer’s stock valued at $6,410,412,000 after acquiring an additional 305,860 shares during the last quarter. State Street Corp lifted its position in Micron Technology by 0.6% in the second 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 last quarter. FMR LLC lifted its position in Micron Technology by 47.9% in the third quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer’s stock valued at $1,489,801,000 after acquiring an additional 7,089,790 shares during the last quarter. Geode Capital Management LLC lifted its position in 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 valued at $1,225,181,000 after acquiring an additional 253,179 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in Micron Technology by 43.4% in the third quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock valued at $1,182,608,000 after acquiring an additional 5,257,201 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MU has been the topic of a number of recent research reports. Rosenblatt Securities restated a “buy” rating and issued a $140.00 price objective on shares of Micron Technology in a research note on Monday, March 18th. Morgan Stanley lifted their price objective on shares of Micron Technology from $78.00 to $98.00 and gave the company an “underweight” rating in a research note on Thursday, March 21st. BMO Capital Markets lifted their price objective on shares of Micron Technology from $80.00 to $90.00 and gave the company an “outperform” rating in a research note on Monday, December 18th. Barclays lifted their price objective on shares of Micron Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a research note on Monday, March 18th. Finally, 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 research note on Thursday, March 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $118.69.

Check Out Our Latest Report on MU

Insider Buying and Selling

In other news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $82.13, for a total value of $574,910.00. Following the completion of the sale, the chief executive officer now owns 651,759 shares of the company’s stock, valued at $53,528,966.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $82.13, for a total value of $574,910.00. Following the completion of the sale, the chief executive officer now owns 651,759 shares of the company’s stock, valued at $53,528,966.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total transaction of $583,377.00. Following the completion of the sale, the executive vice president now directly owns 148,817 shares of the company’s stock, valued at approximately $17,753,868.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 268,890 shares of company stock valued at $26,952,017. Insiders own 0.32% of the company’s stock.

Micron Technology Stock Performance

Shares of MU opened at $117.89 on Friday. 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 company has a market capitalization of $130.55 billion, a price-to-earnings ratio of -34.17 and a beta of 1.24. The company’s 50 day simple moving average is $92.02 and its 200 day simple moving average is $80.91. Micron Technology, Inc. has a 1 year low of $56.01 and a 1 year high of $122.46.

Micron Technology (NASDAQ:MUGet Free Report) last announced its quarterly earnings data 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 business had revenue of $5.82 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 57.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($2.03) earnings per share. On average, sell-side analysts predict that Micron Technology, Inc. will post 0.01 EPS for the current year.

Micron Technology Dividend Announcement

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

About Micron Technology

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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