Micron Technology, Inc. (NASDAQ:MU) Shares Purchased by Sandy Spring Bank

Sandy Spring Bank increased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 11.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,305 shares of the semiconductor manufacturer’s stock after purchasing an additional 130 shares during the period. Sandy Spring Bank’s holdings in Micron Technology were worth $111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MU. Price T Rowe Associates Inc. MD grew its position in Micron Technology by 411.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,274,070 shares of the semiconductor manufacturer’s stock valued at $763,398,000 after buying an additional 12,286,893 shares during the period. Norges Bank acquired a new stake in shares of Micron Technology during the 4th quarter valued at about $581,559,000. FMR LLC increased its stake in shares of Micron Technology by 47.9% in the 3rd quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer’s stock valued at $1,489,801,000 after purchasing an additional 7,089,790 shares in the last quarter. Morgan Stanley raised its holdings in Micron Technology by 59.2% in the 4th quarter. Morgan Stanley now owns 14,185,790 shares of the semiconductor manufacturer’s stock worth $709,006,000 after purchasing an additional 5,274,984 shares during the period. Finally, Wellington Management Group LLP boosted its position in Micron Technology by 43.4% during the third quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock worth $1,182,608,000 after purchasing an additional 5,257,201 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Micron Technology

In other news, CEO Sanjay Mehrotra sold 45,000 shares of Micron Technology stock in a transaction dated Thursday, January 25th. The stock was 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 directly owns 788,557 shares of the company’s stock, valued at approximately $70,970,130. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The stock was 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 owns 148,817 shares in the company, valued at approximately $17,753,868.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sanjay Mehrotra sold 45,000 shares of the 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 directly owns 788,557 shares of the company’s stock, valued at approximately $70,970,130. The disclosure for this sale can be found here. Insiders sold a total of 313,890 shares of company stock worth $33,354,527 in the last ninety days. Insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Raymond James increased their price objective on shares of Micron Technology from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, January 19th. KeyCorp raised their price target on shares of Micron Technology from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. UBS Group increased their target price on Micron Technology from $95.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Morgan Stanley raised their target price on Micron Technology from $78.00 to $98.00 and gave the company an “underweight” rating in a research report on Thursday, March 21st. Finally, Citigroup reiterated a “buy” rating and set a $150.00 price target on shares of Micron Technology in a research report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $121.35.

Micron Technology Trading Down 3.9 %

Shares of NASDAQ:MU opened at $122.52 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. The business’s 50 day simple moving average is $99.93 and its 200-day simple moving average is $85.00. Micron Technology, Inc. has a 12 month low of $58.03 and a 12 month high of $130.54.

Micron Technology (NASDAQ:MU) last released 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 return on equity of 8.98% and a negative net margin of 20.57%. The business had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.35 billion. During the same quarter in the previous year, the company posted ($2.03) EPS. The business’s revenue was up 57.7% on a year-over-year basis. Equities analysts anticipate that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st will be paid a dividend of $0.115 per share. The ex-dividend date is Thursday, March 28th. This represents a $0.46 annualized dividend and a dividend yield of 0.38%. Micron Technology’s dividend payout ratio is presently -13.33%.

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.