Resource Investment Advisors LLC. He cut his stake in Micron Technology (NASDAQ: MU-Get Rating) shares by 25.8% during the fourth quarter, according to his latest 13F file with the SEC. The institutional investor owned his 6,849 shares of the semiconductor maker’s stock after selling his 2,379 shares during the period. Resources Investment Advisors LLC.’s Micron Technology holdings were valued at $342,000 at the end of the most recent reporting period.
Other institutional investors have also recently changed positions in the company. Renaissance Technologies LLC purchased new Micron Technology stock valued at approximately $374,114,000 in the third quarter. Fairfax Financial Holdings Ltd. Can boosted his Micron Technology stock position by 399.3% in the third quarter. Fairfax Financial Holdings Ltd. now has 3,462,049 shares in the semiconductor maker worth $173.483 million after he purchased an additional 2,768,649 shares last quarter. Two Sigma Investments LP purchased new Micron Technology shares worth approximately $111,372,000 in the third quarter. Barclays PLC increased its Micron Technology share position by 123.3% in the third quarter. Barclays PLC now owns 3,726,636 shares of the semiconductor maker worth $186.705 million after purchasing an additional 2,057,970 of his shares last quarter. Finally, Nuveen Asset Management LLC boosted its position in Micron Technology stock by 29.1% in the third quarter. Nuveen Asset Management LLC now owns 6,047,699 shares of the semiconductor manufacturer worth $32989,000 after purchasing an additional 1,362,811 shares in the previous quarter. 78.02% of the shares are currently owned by hedge funds and other institutional investors.
In other Micron Technology news, SVP Robert P. Beard sold 3,000 shares in a deal on Monday, January 23rd. The shares were sold at an average price of $61.25 for a total of $183,750.00. After the sale, the senior vice president now directly owns 42,840 shares of the company stock valued at $2,623,950. The sale is disclosed in filings with the Securities and Exchange Commission, which are available at this link. In related news, SVP Robert P. Beard sold 3,000 shares of his Micron Technology stock in a transaction on Monday, January 23rd. The shares sold for an average of $61.25, and the total transaction value he had was $183,750.00. After the sale, the senior vice president now owns 42,840 shares in the company directly, valued at $2,623,950. The sale is disclosed in documents filed with the SEC and available on his website. Also, EVP Scott J. Deboer sold 20,000 shares of his Micron Technology stock in a transaction on Thursday, Jan. 26. The shares sold for an average of $62.23 and the total transaction value he was $1,244,600.00. After the sale, the Executive Vice President now owns his 248,340 shares of the company, valued him at $15,454,198.20. Please see here for the disclosure of this sale. Insiders say that in the past three months he has sold 107,000 shares of company stock worth $6,444,990. A company insider owns his 0.33% of the company’s shares.
Micron Technology stock performance
MU shares opened at $61.13 on Friday. The company has a current ratio of 4.17, a quick ratio of 2.62 and a debt to equity ratio of 0.25. The company has a market capitalization of $66.9 billion, a PER of 43.98 and a beta of 1.41. Micron Technology, Inc. has a 12-month low of $48.43 and a 12-month high of $75.41. The stock has a 50-day simple moving average of $59.03 and a 200-day simple moving average of $57.06.
Micron Technology (NASDAQ:MU – Get Rating) last reported quarterly results on Tuesday, March 28. The semiconductor maker reported his earnings per share (EPS) for the quarter at ($1.91) and missed the consensus estimate of ($1.16) at ($0.75). The company’s revenue for the quarter was $3.69 billion, compared with analyst estimates of $3.71 billion. Micron Technology had a net profit margin of 6.99% and a return on equity of 3.98%. Business revenue fell 52.6% year-on-year. His earnings per share for the company in the same period last year were $2.05. As a group, the equity research analyst expects Micron Technology, Inc.’s EPS to be -5.27 for the current year.
Micron Technology Announces Dividend
The business recently announced a quarterly dividend payable on Tuesday, April 25. Shareholders of record on Monday, April 10 will receive a dividend of $0.115. This represents an annualized dividend of $0.46 and his yield of 0.75%. The ex-dividend date for this dividend is April 6 (Thursday). Micron Technology’s dividend payout ratio is currently 33.09%.
Wall Street Analyst Predicts Growth
A few research analysts have recently put a lot of weight on stock prices. Evercore ISI raised its price target on Micron Technology stock from his $65.00 to $75.00 in its research notes on Monday, March 27, giving the company an “outperform” rating. Argus downgraded Micron Technology’s stock from a ‘buy’ rating to a ‘hold’ rating in a research note on Friday, December 30. Goldman Sachs Group Inc. raised its price target on Micron Technology shares to $65.00 from $59.00 and gave the company a Buy rating in its research notes on Thursday, March 30. Credit Suisse Group set a target price for Micron Technology stock at $66.00 in its research notes on Tuesday, January 3rd. Finally, Bank of America raised its price target on Micron Technology stock from $58.00 to $68.00, giving the company a Neutral rating in its research notes on Wednesday, March 29. Three investment analysts gave the stock a sell rating, five issued a pending rating, and 24 assigned a buy rating to the company. According to MarketBeat.com data, Micron Technology’s current consensus rating is a “moderate buy” with a consensus target price of $69.59.
Micron Technology Company Profile
Micron Technology, Inc. is committed to providing innovative memory and storage solutions. It operates in the following segments: Computing & Networking Business Unit (CNBU), Mobile Business Unit (MBU), Storage Business Unit (SBU) and Embedded Business Unit (EBU). The CNBU segment includes memory products sold to the cloud server, enterprise, client, graphics and networking markets.
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