Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Everence Capital Management Inc.

Everence Capital Management Inc. lessened its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 16.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,860 shares of the semiconductor manufacturer’s stock after selling 4,730 shares during the period. Everence Capital Management Inc.’s holdings in Micron Technology were worth $2,122,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MU. Northern Trust Corp grew its holdings in Micron Technology by 0.7% in the third quarter. Northern Trust Corp now owns 10,833,670 shares of the semiconductor manufacturer’s stock valued at $737,015,000 after purchasing an additional 80,345 shares during the last quarter. L2 Asset Management LLC grew its holdings in Micron Technology by 492.3% in the third quarter. L2 Asset Management LLC now owns 26,444 shares of the semiconductor manufacturer’s stock valued at $1,799,000 after purchasing an additional 21,979 shares during the last quarter. Invesco Ltd. grew its holdings in Micron Technology by 11.8% in the third quarter. Invesco Ltd. now owns 8,807,926 shares of the semiconductor manufacturer’s stock valued at $599,203,000 after purchasing an additional 927,302 shares during the last quarter. Merlin Capital Inc acquired a new stake in Micron Technology in the third quarter valued at $407,000. Finally, Amitell Capital Pte Ltd grew its holdings in Micron Technology by 97.9% in the third quarter. Amitell Capital Pte Ltd now owns 95,210 shares of the semiconductor manufacturer’s stock valued at $6,477,000 after purchasing an additional 47,105 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. TD Cowen upped their price objective on Micron Technology from $120.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, March 21st. Wedbush upped their price objective on Micron Technology from $103.00 to $130.00 and gave the company an “outperform” rating in a research report on Thursday, March 21st. KeyCorp upped their price objective on Micron Technology from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Morgan Stanley upped their price objective on Micron Technology from $78.00 to $98.00 and gave the company an “underweight” rating in a research report on Thursday, March 21st. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $140.00 target price on shares of Micron Technology in a research report on Monday, March 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat, Micron Technology currently has a consensus rating of “Moderate Buy” and an average target price of $122.20.

Micron Technology Stock Up 0.3 %

Shares of NASDAQ:MU opened at $121.77 on Wednesday. Micron Technology, Inc. has a 1-year low of $58.03 and a 1-year high of $130.54. The company’s fifty day moving average is $101.36 and its two-hundred day moving average is $86.01. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74. The stock has a market capitalization of $134.84 billion, a price-to-earnings ratio of -35.30 and a beta of 1.27.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, beating the consensus estimate of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The company had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same period in the prior year, the company earned ($2.03) earnings per share. The business’s revenue was up 57.7% compared to the same quarter last year. Equities analysts anticipate that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were given a $0.115 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.46 annualized dividend and a yield of 0.38%. Micron Technology’s dividend payout ratio is presently -13.33%.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total transaction of $583,377.00. Following the sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $17,753,868.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sanjay Mehrotra sold 45,000 shares of Micron Technology stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $90.00, for a total value of $4,050,000.00. Following the completion of the transaction, the chief executive officer now owns 788,557 shares in the company, valued at $70,970,130. The disclosure for this sale can be found here. Insiders have sold a total of 306,890 shares of company stock worth $32,772,127 in the last ninety days. 0.32% of the stock is owned by insiders.

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.