New England Research & Management Inc. decreased its position in Micron Technology, Inc. (NASDAQ:MU – Get Rating) by 40.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,475 shares of the semiconductor manufacturer’s stock after selling 2,375 shares during the period. New England Research & Management Inc.’s holdings in Micron Technology were worth $324,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. IMS Capital Management grew its stake in Micron Technology by 6.3% in the 4th quarter. IMS Capital Management now owns 3,356 shares of the semiconductor manufacturer’s stock valued at $313,000 after buying an additional 200 shares during the last quarter. Stonebridge Capital Management Inc. grew its position in shares of Micron Technology by 7.0% during the 4th quarter. Stonebridge Capital Management Inc. now owns 7,650 shares of the semiconductor manufacturer’s stock worth $713,000 after buying an additional 500 shares during the period. Fulton Bank N.A. grew its position in shares of Micron Technology by 4.3% during the 4th quarter. Fulton Bank N.A. now owns 9,026 shares of the semiconductor manufacturer’s stock worth $841,000 after buying an additional 370 shares during the period. S.A. Mason LLC bought a new position in Micron Technology during the 4th quarter worth approximately $58,000. Finally, Private Asset Management Inc. boosted its stake in Micron Technology by 2.7% during the 4th quarter. Private Asset Management Inc. now owns 331,743 shares of the semiconductor manufacturer’s stock worth $30,902,000 after acquiring an additional 8,857 shares during the last quarter. Hedge funds and other institutional investors own 76.07% of the company’s stock.
MU stock traded down $0.89 during midday trading on Tuesday, hitting $87.97. The stock had a trading volume of 292,263 shares, compared to its average volume of 21,081,682. The firm has a market cap of $98.51 billion, a price-to-earnings ratio of 13.71, a price-to-earnings-growth ratio of 0.42 and a beta of 1.19. The business has a 50-day moving average of $89.84 and a two-hundred day moving average of $80.14. Micron Technology, Inc. has a 52-week low of $65.67 and a 52-week high of $98.45. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.10 and a quick ratio of 2.36.
Micron Technology (NASDAQ:MU – Get Rating) last released its earnings results on Monday, December 20th. The semiconductor manufacturer reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $2.11 by $0.05. Micron Technology had a return on equity of 19.01% and a net margin of 24.86%. The firm had revenue of $7.69 billion for the quarter, compared to analysts’ expectations of $7.68 billion. During the same period in the prior year, the firm posted $0.71 earnings per share. The company’s quarterly revenue was up 33.2% on a year-over-year basis. Research analysts predict that Micron Technology, Inc. will post 8.67 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 18th. Stockholders of record on Monday, January 3rd were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, December 31st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.45%. Micron Technology’s dividend payout ratio is currently 6.17%.
MU has been the topic of several research reports. JPMorgan Chase & Co. upped their price objective on shares of Micron Technology from $100.00 to $115.00 and gave the company an “overweight” rating in a report on Tuesday, December 21st. Zacks Investment Research raised Micron Technology from a “strong sell” rating to a “hold” rating and set a $90.00 price objective for the company in a research note on Tuesday, November 30th. New Street Research assumed coverage on shares of Micron Technology in a research report on Monday, January 10th. They set a “buy” rating and a $135.00 price objective for the company. Credit Suisse Group increased their target price on Micron Technology from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, December 21st. Finally, UBS Group raised their price objective on Micron Technology from $105.00 to $115.00 in a research note on Thursday, January 6th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $112.17.
In other news, SVP Robert P. Beard sold 266 shares of the company’s stock in a transaction on Wednesday, February 16th. The stock was sold at an average price of $96.17, for a total transaction of $25,581.22. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sanjay Mehrotra sold 100,000 shares of the company’s stock in a transaction on Friday, January 14th. The shares were sold at an average price of $97.16, for a total value of $9,716,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 240,673 shares of company stock worth $22,973,742. Insiders own 0.32% of the company’s stock.
Micron Technology Company Profile (Get Rating)
Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute & Networking Business Unit (CNBU), Mobile Business Unit (MBU), Storage Business Unit (SBU), and Embedded Business Unit (EBU). The CNBU segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.
See Also
Want to see what other hedge funds are holding MU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Micron Technology, Inc. (NASDAQ:MU – Get Rating).
Want More Great Investing Ideas?
Receive News & Ratings for Micron Technology Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Micron Technology and related companies with MarketBeat.com’s FREE daily email newsletter.
