Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Alerus Financial NA

Alerus Financial NA reduced its position in Micron Technology, Inc. (NASDAQ:MU) by 6.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 47,353 shares of the semiconductor manufacturer’s stock after selling 3,390 shares during the quarter. Alerus Financial NA’s holdings in Micron Technology were worth $3,985,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Beacon Capital Management LLC lifted its position in Micron Technology by 114.9% in the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after purchasing an additional 200 shares during the last quarter. True Wealth Design LLC raised its stake in shares of Micron Technology by 1,096.3% in the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after acquiring an additional 296 shares in the last quarter. Midwest Capital Advisors LLC bought a new stake in Micron Technology during the 4th quarter valued at approximately $33,000. Activest Wealth Management raised its holdings in Micron Technology by 583.3% in the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 350 shares in the last quarter. Finally, Comprehensive Financial Planning Inc. PA acquired a new stake in Micron Technology during the fourth quarter valued at approximately $34,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were 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 in the company, valued at $2,542,378.94. The trade was a 8.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP April S. Arnzen sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the completion of the sale, the executive vice president now directly owns 164,769 shares in the company, valued at approximately $15,847,482.42. The trade was a 8.34 % 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 Stock Performance

NASDAQ MU opened at $91.16 on Friday. Micron Technology, Inc. has a 12-month low of $83.54 and a 12-month high of $157.54. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The company has a fifty day simple moving average of $96.35 and a 200 day simple moving average of $98.36. The company has a market cap of $101.88 billion, a P/E ratio of 26.27 and a beta of 1.23.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. During the same period last year, the business posted $0.42 earnings per share. Micron Technology’s revenue was up 38.2% on a year-over-year basis. Sell-side analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.115 per share. The ex-dividend date is Monday, March 31st. This represents a $0.46 annualized dividend and a dividend yield of 0.50%. Micron Technology’s payout ratio is 11.03%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. UBS Group boosted their price objective on Micron Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, March 17th. Citigroup decreased their price target on shares of Micron Technology from $150.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, March 21st. The Goldman Sachs Group cut their price target 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. JPMorgan Chase & Co. cut their price objective on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research report on Friday, March 21st. Finally, Stifel Nicolaus reduced their target price on Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Micron Technology presently has an average rating of “Moderate Buy” and an average price target of $129.96.

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.