Micron Technology, Inc. (NASDAQ:MU) Shares Sold by AIA Group Ltd

AIA Group Ltd decreased its position in Micron Technology, Inc. (NASDAQ:MU) by 17.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,720 shares of the semiconductor manufacturer’s stock after selling 1,027 shares during the quarter. AIA Group Ltd’s holdings in Micron Technology were worth $403,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Fortis Capital Advisors LLC purchased a new stake in Micron Technology in the 4th quarter valued at about $25,000. OFI Invest Asset Management purchased a new stake in Micron Technology in the 3rd quarter valued at about $27,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Micron Technology in the 3rd quarter valued at about $28,000. Coppell Advisory Solutions LLC purchased a new stake in Micron Technology in the 2nd quarter valued at about $32,000. Finally, VisionPoint Advisory Group LLC grew its holdings 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 period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on MU. Fox Advisors upgraded Micron Technology from an “equal weight” rating to an “overweight” rating in a report on Thursday, March 21st. Wedbush boosted their target price on Micron Technology from $103.00 to $130.00 and gave the stock an “outperform” rating in a report on Thursday, March 21st. Mizuho boosted their target price on Micron Technology from $105.00 to $124.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Bank of America boosted their target price on Micron Technology from $120.00 to $144.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Finally, KeyCorp boosted their target price on Micron Technology from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.20.

Micron Technology Price Performance

Shares of MU opened at $106.77 on Friday. The business’s 50 day moving average is $102.95 and its two-hundred day moving average is $86.67. Micron Technology, Inc. has a 52-week low of $58.03 and a 52-week high of $130.54. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 8.98% and a negative net margin of 20.57%. Micron Technology’s quarterly revenue was up 57.7% on a year-over-year basis. During the same period in the prior year, the company posted ($2.03) EPS. As a group, equities research analysts predict that Micron Technology, Inc. will post 0.24 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend was Thursday, March 28th. Micron Technology’s dividend payout ratio is currently -13.33%.

Insider Activity at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 45,000 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now directly owns 788,557 shares in the company, valued at $70,970,130. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP April S. Arnzen sold 4,890 shares of the firm’s 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 transaction, the executive vice president now directly owns 148,817 shares of the company’s stock, valued at $17,753,868.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sanjay Mehrotra sold 45,000 shares of the firm’s stock in a transaction on Thursday, January 25th. The shares were 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 in the company, valued at $70,970,130. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 313,890 shares of company stock valued at $33,617,027. Corporate insiders own 0.32% of the company’s stock.

Micron Technology 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.