Micron Technology, Inc. (NASDAQ:MU) Stock Holdings Trimmed by Altfest L J & Co. Inc.

Altfest L J & Co. Inc. decreased its holdings in Micron Technology, Inc. (NASDAQ:MU) by 28.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,161 shares of the semiconductor manufacturer’s stock after selling 2,407 shares during the quarter. Altfest L J & Co. Inc.’s holdings in Micron Technology were worth $526,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of MU. Vanguard Group Inc. raised its holdings in shares of Micron Technology by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 94,229,187 shares of the semiconductor manufacturer’s stock worth $6,410,412,000 after purchasing an additional 305,860 shares in the last quarter. State Street Corp raised its position in Micron Technology by 0.6% during the second quarter. State Street Corp now owns 46,193,578 shares of the semiconductor manufacturer’s stock valued at $2,915,277,000 after buying an additional 282,292 shares during the period. FMR LLC lifted its stake in Micron Technology by 47.9% in the 3rd quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer’s stock worth $1,489,801,000 after acquiring an additional 7,089,790 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Micron Technology by 1.3% in the 1st quarter. Geode Capital Management LLC now owns 20,348,845 shares of the semiconductor manufacturer’s stock valued at $1,225,181,000 after purchasing an additional 253,179 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in shares of 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 during the period. 80.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 45,000 shares of Micron Technology stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $120.00, for a total value of $5,400,000.00. Following the transaction, the chief executive officer now owns 743,557 shares of the company’s stock, valued at $89,226,840. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders sold 264,000 shares of company stock valued at $26,368,640. Company insiders own 0.32% of the company’s stock.

Micron Technology Trading Down 1.3 %

Shares of MU traded down $1.59 on Thursday, reaching $117.55. 11,703,721 shares of the company’s stock were exchanged, compared to its average volume of 18,804,531. The business has a 50 day moving average price of $90.63 and a two-hundred day moving average price of $80.38. Micron Technology, Inc. has a 12 month low of $56.01 and a 12 month high of $122.46. The stock has a market capitalization of $130.17 billion, a P/E ratio of -34.31 and a beta of 1.24. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $5.35 billion. During the same period in the previous year, the firm earned ($2.03) earnings per share. The firm’s quarterly revenue was up 57.7% compared to the same quarter last year. Research analysts anticipate that Micron Technology, Inc. will post 0.01 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 16th. Investors of record on Monday, April 1st will be paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.39%. The ex-dividend date is Thursday, March 28th. Micron Technology’s payout ratio is presently -13.33%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MU. Barclays raised their price target on Micron Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a research note on Monday, March 18th. Fox Advisors raised shares of Micron Technology from an “equal weight” rating to an “overweight” rating in a research note on Thursday, March 21st. The Goldman Sachs Group upped their price objective on shares of Micron Technology from $85.00 to $97.00 and gave the stock a “buy” rating in a report on Thursday, December 21st. KeyCorp boosted their price target on Micron Technology from $115.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. Finally, Wedbush increased their price objective on Micron Technology from $103.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday, March 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $118.69.

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.