Micron Technology, Inc. (NASDAQ:MU) Stock Position Reduced by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 2.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 132,806 shares of the semiconductor manufacturer’s stock after selling 3,719 shares during the period. Mutual of America Capital Management LLC’s holdings in Micron Technology were worth $11,177,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Private Trust Co. NA grew its position in Micron Technology by 20.9% in the fourth quarter. Private Trust Co. NA now owns 4,657 shares of the semiconductor manufacturer’s stock worth $392,000 after acquiring an additional 806 shares in the last quarter. Hosking Partners LLP grew its position in Micron Technology by 5.6% in the fourth quarter. Hosking Partners LLP now owns 718,115 shares of the semiconductor manufacturer’s stock worth $60,437,000 after acquiring an additional 37,770 shares in the last quarter. Parkside Financial Bank & Trust grew its position in Micron Technology by 8.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 3,338 shares of the semiconductor manufacturer’s stock worth $281,000 after acquiring an additional 274 shares in the last quarter. Verus Capital Partners LLC grew its position in Micron Technology by 6.8% in the fourth quarter. Verus Capital Partners LLC now owns 3,796 shares of the semiconductor manufacturer’s stock worth $320,000 after acquiring an additional 241 shares in the last quarter. Finally, QRG Capital Management Inc. grew its position in Micron Technology by 2.6% in the fourth quarter. QRG Capital Management Inc. now owns 174,727 shares of the semiconductor manufacturer’s stock worth $14,705,000 after acquiring an additional 4,376 shares in the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the sale, the executive vice president now owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.30% of the stock is owned by insiders.

Micron Technology Trading Up 2.0 %

Shares of MU stock opened at $93.63 on Friday. Micron Technology, Inc. has a 52-week low of $83.54 and a 52-week high of $157.54. The stock has a market cap of $104.32 billion, a price-to-earnings ratio of 26.98 and a beta of 1.18. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The firm has a fifty day moving average of $95.75 and a 200-day moving average of $98.88.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.71 billion. During the same quarter in the prior year, the company posted ($0.95) EPS. The business’s revenue was up 84.3% on a year-over-year basis. On average, equities research analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s payout ratio is 13.26%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. JPMorgan Chase & Co. decreased their target price on shares of Micron Technology from $180.00 to $145.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. The Goldman Sachs Group reduced their price objective on shares of Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Needham & Company LLC reduced their price objective on shares of Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Mizuho reduced their price objective on shares of Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday, December 19th. Finally, Robert W. Baird reduced their price objective on shares of Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Micron Technology has a consensus rating of “Moderate Buy” and an average target price of $134.96.

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.