Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. trimmed its position in Micron Technology, Inc. (NASDAQ:MU) by 2.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,847,850 shares of the semiconductor manufacturer’s stock after selling 39,996 shares during the period. Russell Investments Group Ltd.’s holdings in Micron Technology were worth $157,711,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of MU. Exchange Traded Concepts LLC raised its holdings in Micron Technology by 411.2% in the 3rd quarter. Exchange Traded Concepts LLC now owns 4,657 shares of the semiconductor manufacturer’s stock valued at $317,000 after buying an additional 3,746 shares during the last quarter. CX Institutional boosted its position in shares of Micron Technology by 4.4% in the third quarter. CX Institutional now owns 6,370 shares of the semiconductor manufacturer’s stock worth $433,000 after purchasing an additional 271 shares during the period. Asset Management One Co. Ltd. raised its stake in shares of Micron Technology by 0.4% during the 3rd quarter. Asset Management One Co. Ltd. now owns 456,840 shares of the semiconductor manufacturer’s stock worth $31,079,000 after buying an additional 1,621 shares during the period. Handelsbanken Fonder AB lifted its position in shares of Micron Technology by 5.5% in the third quarter. Handelsbanken Fonder AB now owns 330,961 shares of the semiconductor manufacturer’s stock valued at $22,515,000 after acquiring an additional 17,287 shares in the last quarter. Finally, Slow Capital Inc. raised its stake in Micron Technology by 5.3% in the 3rd quarter. Slow Capital Inc. now owns 44,970 shares of the semiconductor manufacturer’s stock valued at $3,059,000 after purchasing an additional 2,265 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MU. Cantor Fitzgerald upped their target price on shares of Micron Technology from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Robert W. Baird raised their price target on Micron Technology from $78.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 19th. Morgan Stanley increased their price target on shares of Micron Technology from $78.00 to $98.00 and gave the stock an “underweight” rating in a research note on Thursday, March 21st. TD Cowen upped their target price on Micron Technology from $120.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, March 21st. Finally, Barclays upped their price objective on shares of Micron Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a report on Monday, March 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Micron Technology currently has an average rating of “Moderate Buy” and an average price target of $122.20.

Insider Buying and Selling

In related news, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $111.93, for a total transaction of $783,510.00. Following the completion of the transaction, the chief executive officer now owns 719,049 shares in the company, valued at $80,483,154.57. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total value of $583,377.00. Following the transaction, the executive vice president now directly owns 148,817 shares in the company, valued at approximately $17,753,868.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $111.93, for a total transaction of $783,510.00. Following the completion of the transaction, the chief executive officer now owns 719,049 shares in the company, valued at approximately $80,483,154.57. The disclosure for this sale can be found here. Insiders sold a total of 268,890 shares of company stock worth $29,738,667 in the last 90 days. Insiders own 0.32% of the company’s stock.

Micron Technology Stock Performance

Micron Technology stock traded up $3.26 during trading hours on Friday, hitting $114.84. The stock had a trading volume of 20,612,299 shares, compared to its average volume of 24,401,036. The stock’s 50-day moving average price is $105.94 and its 200-day moving average price is $88.17. Micron Technology, Inc. has a 12-month low of $59.55 and a 12-month high of $130.54. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same period in the previous year, the firm earned ($2.03) earnings per share. The business’s revenue was up 57.7% on a year-over-year basis. Equities analysts predict that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were given a $0.115 dividend. The ex-dividend date was Thursday, March 28th. This represents a $0.46 annualized dividend and a dividend yield of 0.40%. Micron Technology’s dividend payout ratio (DPR) is -13.33%.

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.