Ifrah Financial Services Inc. Decreases Holdings in Micron Technology, Inc. (NASDAQ:MU)

Ifrah Financial Services Inc. cut its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 9.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,401 shares of the semiconductor manufacturer’s stock after selling 533 shares during the period. Ifrah Financial Services Inc.’s holdings in Micron Technology were worth $461,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Provence Wealth Management Group purchased a new stake in Micron Technology during the 4th quarter valued at $248,000. Sapient Capital LLC purchased a new stake in shares of Micron Technology in the 4th quarter worth $347,000. Axxcess Wealth Management LLC purchased a new stake in shares of Micron Technology in the 4th quarter worth $307,000. U.S. Capital Wealth Advisors LLC increased its stake in shares of Micron Technology by 2.2% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 15,373 shares of the semiconductor manufacturer’s stock worth $1,312,000 after purchasing an additional 330 shares in the last quarter. Finally, M&T Bank Corp increased its stake in shares of Micron Technology by 2.2% in the 4th quarter. M&T Bank Corp now owns 53,445 shares of the semiconductor manufacturer’s stock worth $4,561,000 after purchasing an additional 1,161 shares in the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Trading Up 2.1 %

Shares of NASDAQ:MU traded up $2.37 during trading on Friday, reaching $114.70. The company’s stock had a trading volume of 15,564,363 shares, compared to its average volume of 21,228,284. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30. Micron Technology, Inc. has a 12 month low of $59.55 and a 12 month high of $130.54. The firm’s 50 day simple moving average is $108.95 and its two-hundred day simple moving average is $89.67. The stock has a market capitalization of $126.63 billion, a PE ratio of -33.25 and a beta of 1.27.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, topping 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 company had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same period in the prior year, the company posted ($2.03) EPS. The firm’s revenue for the quarter was up 57.7% on a year-over-year basis. On average, research analysts predict that Micron Technology, Inc. will post 0.24 EPS for the current fiscal year.

Micron Technology Dividend Announcement

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 dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date was Thursday, March 28th. Micron Technology’s dividend payout ratio (DPR) is presently -13.33%.

Insider Transactions at Micron Technology

In other news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $80.44, for a total transaction of $563,080.00. Following the transaction, the chief executive officer now directly owns 788,557 shares of the company’s stock, valued at $63,431,525.08. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP Scott J. Deboer sold 40,000 shares of Micron Technology stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $110.31, for a total transaction of $4,412,400.00. Following the transaction, the executive vice president now directly owns 158,617 shares of the company’s stock, valued at $17,497,041.27. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $80.44, for a total transaction of $563,080.00. Following the transaction, the chief executive officer now directly owns 788,557 shares in the company, valued at $63,431,525.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 323,890 shares of company stock valued at $36,079,267. 0.32% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on MU shares. Fox Advisors upgraded Micron Technology from an “equal weight” rating to an “overweight” rating in a research note on Thursday, March 21st. KeyCorp upped their price objective on Micron Technology from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. TD Cowen upped their price objective on Micron Technology from $120.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, March 21st. Morgan Stanley increased their price target on Micron Technology from $78.00 to $98.00 and gave the stock an “underweight” rating in a research note on Thursday, March 21st. Finally, Robert W. Baird increased 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $122.20.

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.