Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA reduced its stake in Micron Technology, Inc. (NASDAQ:MU) by 0.1% in the 4th quarter, Holdings Channel reports. The firm owned 37,596,461 shares of the semiconductor manufacturer’s stock after selling 35,399 shares during the quarter. Micron Technology accounts for approximately 2.5% of Primecap Management Co. CA’s portfolio, making the stock its 8th biggest position. Primecap Management Co. CA’s holdings in Micron Technology were worth $3,164,118,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Micron Technology by 21.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock valued at $1,174,643,000 after acquiring an additional 2,022,180 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Micron Technology during the fourth quarter valued at about $135,865,000. State Street Corp lifted its position in shares of Micron Technology by 3.1% during the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock worth $5,001,592,000 after purchasing an additional 1,434,568 shares during the last quarter. Worldquant Millennium Advisors LLC lifted its position in shares of Micron Technology by 254.4% during the third quarter. Worldquant Millennium Advisors LLC now owns 1,859,416 shares of the semiconductor manufacturer’s stock worth $192,840,000 after purchasing an additional 1,334,690 shares during the last quarter. Finally, Bridgewater Associates LP bought a new position in shares of Micron Technology during the third quarter worth about $102,018,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the transaction, the executive vice president now owns 181,223 shares in the company, valued at approximately $15,442,011.83. The trade was a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the transaction, the director now directly owns 27,358 shares of the company’s stock, valued at $2,542,378.94. This represents a 8.08 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by company insiders.

Micron Technology Price Performance

NASDAQ MU opened at $103.11 on Tuesday. Micron Technology, Inc. has a 12 month low of $83.54 and a 12 month high of $157.54. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The firm has a market capitalization of $114.88 billion, a PE ratio of 29.71 and a beta of 1.23. The company’s 50 day simple moving average is $96.80 and its 200 day simple moving average is $98.13.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 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 business had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. During the same quarter last year, the business earned ($0.95) earnings per share. The business’s revenue for the quarter was up 84.3% on a year-over-year basis. As a group, equities research analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were given a $0.115 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 annualized dividend and a yield of 0.45%. Micron Technology’s dividend payout ratio (DPR) is 13.26%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Sanford C. Bernstein reduced their price target on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. Bank of America cut shares of Micron Technology from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $125.00 to $110.00 in a research report on Thursday, December 19th. TD Cowen reduced their price target on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Morgan Stanley reduced their price target on shares of Micron Technology from $98.00 to $91.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 28th. Finally, KGI Securities raised shares of Micron Technology to a “strong-buy” rating in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $134.16.

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.