Slow Capital Inc. Reduces Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Slow Capital Inc. lowered its position in Micron Technology, Inc. (NASDAQ:MU) by 0.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,568 shares of the semiconductor manufacturer’s stock after selling 402 shares during the quarter. Slow Capital Inc.’s holdings in Micron Technology were worth $3,806,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in MU. Fortis Capital Advisors LLC acquired a new position in Micron Technology during the fourth quarter worth about $25,000. OFI Invest Asset Management acquired a new position in Micron Technology during the third quarter worth about $27,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Micron Technology during the third quarter worth about $28,000. Coppell Advisory Solutions LLC acquired a new position in Micron Technology during the second quarter worth about $32,000. Finally, VisionPoint Advisory Group LLC raised its position in Micron Technology by 68.3% during the third quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock worth $33,000 after acquiring an additional 198 shares during the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company lifted their price target on shares of Micron Technology from $125.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. Fox Advisors upgraded shares of Micron Technology from an “equal weight” rating to an “overweight” rating in a report on Thursday, March 21st. UBS Group lifted their price target on shares of Micron Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Argus upgraded shares of Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 price target for the company in a report on Thursday, March 21st. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Micron Technology from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, December 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $122.20.

Micron Technology Trading Down 3.4 %

MU stock traded down $4.20 during midday trading on Wednesday, reaching $117.57. 10,921,291 shares of the company’s stock traded hands, compared to its average volume of 20,086,314. The company has a market capitalization of $130.19 billion, a P/E ratio of -34.90 and a beta of 1.27. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. Micron Technology, Inc. has a fifty-two week low of $58.03 and a fifty-two week high of $130.54. The business has a 50-day moving average price of $101.36 and a two-hundred day moving average price of $86.01.

Micron Technology (NASDAQ:MU) last posted its earnings results 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 net margin of 20.57% and a negative return on equity of 8.98%. The business had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.35 billion. During the same period in the previous year, the company posted ($2.03) earnings per share. The business’s revenue for the quarter was up 57.7% compared to the same quarter last year. Equities research analysts forecast that Micron Technology, Inc. will post 0.24 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.39%. Micron Technology’s payout ratio is currently -13.33%.

Insider Transactions at Micron Technology

In other news, CEO Sanjay Mehrotra sold 45,000 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $130.00, for a total transaction of $5,850,000.00. Following the transaction, the chief executive officer now directly owns 728,557 shares of the company’s stock, valued at $94,712,410. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total value of $583,377.00. Following the sale, the executive vice president now directly owns 148,817 shares of the company’s stock, valued at $17,753,868.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sanjay Mehrotra sold 45,000 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $130.00, for a total transaction of $5,850,000.00. Following the completion of the sale, the chief executive officer now directly owns 728,557 shares in the company, valued at $94,712,410. The disclosure for this sale can be found here. Over the last three months, insiders have sold 306,890 shares of company stock valued at $32,772,127. Corporate insiders own 0.32% of the company’s stock.

Micron Technology Company 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.