Mirae Asset Global Investments Co. Ltd. Cuts Stake in Micron Technology, Inc. (NASDAQ:MU)

Mirae Asset Global Investments Co. Ltd. cut its stake in Micron Technology, Inc. (NASDAQ:MU) by 7.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,351,011 shares of the semiconductor manufacturer’s stock after selling 103,449 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.12% of Micron Technology worth $117,578,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Czech National Bank raised its position in shares of Micron Technology by 7.1% in the third quarter. Czech National Bank now owns 225,924 shares of the semiconductor manufacturer’s stock valued at $23,431,000 after buying an additional 14,902 shares during the last quarter. GAMMA Investing LLC raised its holdings in Micron Technology by 12.1% in the 3rd quarter. GAMMA Investing LLC now owns 15,599 shares of the semiconductor manufacturer’s stock valued at $1,618,000 after acquiring an additional 1,689 shares during the last quarter. Diversified Trust Co lifted its stake in Micron Technology by 37.0% in the 3rd quarter. Diversified Trust Co now owns 22,202 shares of the semiconductor manufacturer’s stock worth $2,303,000 after purchasing an additional 5,995 shares in the last quarter. Fulton Bank N.A. boosted its holdings in shares of Micron Technology by 46.8% during the 3rd quarter. Fulton Bank N.A. now owns 9,175 shares of the semiconductor manufacturer’s stock worth $952,000 after purchasing an additional 2,926 shares during the last quarter. Finally, Kesler Norman & Wride LLC purchased a new stake in shares of Micron Technology in the third quarter valued at approximately $795,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MU has been the topic of a number of recent research reports. Bank of America lowered Micron Technology from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $125.00 to $110.00 in a research note on Thursday, December 19th. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price objective on shares of Micron Technology in a report on Wednesday, December 18th. China Renaissance began coverage on shares of Micron Technology in a research report on Monday, October 28th. They set a “buy” rating and a $148.00 price objective for the company. Wells Fargo & Company decreased their target price on shares of Micron Technology from $175.00 to $140.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Finally, Cantor Fitzgerald cut their price target on shares of Micron Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $134.96.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the sale, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at $15,442,011.83. This represents a 2.63 % decrease in their position. The sale 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 corporate insiders.

Micron Technology Stock Performance

Shares of Micron Technology stock opened at $90.66 on Wednesday. The business has a 50-day simple moving average of $97.13 and a 200-day simple moving average of $99.55. The company has a market cap of $101.01 billion, a PE ratio of 26.13 and a beta of 1.18. Micron Technology, Inc. has a one year low of $79.15 and a one year high of $157.54. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. The business had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company’s revenue was up 84.3% on a year-over-year basis. During the same period last year, the business earned ($0.95) EPS. On average, equities research analysts forecast that Micron Technology, Inc. will post 6.29 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were paid a $0.115 dividend. The ex-dividend date was Monday, December 30th. This represents a $0.46 annualized dividend and a yield of 0.51%. Micron Technology’s dividend payout ratio is currently 13.26%.

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.