Micron Technology, Inc. $MU Shares Sold by Mesirow Financial Investment Management Inc.

Mesirow Financial Investment Management Inc. cut its holdings in Micron Technology, Inc. (NASDAQ:MUFree Report) by 30.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,208 shares of the semiconductor manufacturer’s stock after selling 1,855 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Micron Technology were worth $1,201,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of MU. Simmons Bank increased its holdings in shares of Micron Technology by 241.8% in the 4th quarter. Simmons Bank now owns 9,035 shares of the semiconductor manufacturer’s stock valued at $2,579,000 after acquiring an additional 6,392 shares during the last quarter. Central Asset Investments & Management Holdings HK Ltd lifted its stake in Micron Technology by 596.4% during the fourth quarter. Central Asset Investments & Management Holdings HK Ltd now owns 83,741 shares of the semiconductor manufacturer’s stock worth $23,901,000 after purchasing an additional 71,717 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its stake in Micron Technology by 19.8% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 106,233 shares of the semiconductor manufacturer’s stock worth $30,320,000 after purchasing an additional 17,566 shares during the last quarter. Fourier Capital Management Ltd acquired a new position in Micron Technology in the fourth quarter valued at approximately $802,000. Finally, E Fund Management Hong Kong Co. Ltd. boosted its holdings in Micron Technology by 383.6% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 4,821 shares of the semiconductor manufacturer’s stock valued at $1,376,000 after purchasing an additional 3,824 shares in the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Stock Performance

Shares of MU opened at $776.01 on Friday. The company’s 50 day simple moving average is $472.61 and its 200-day simple moving average is $368.17. The firm has a market cap of $875.13 billion, a PE ratio of 36.64 and a beta of 1.91. Micron Technology, Inc. has a 12-month low of $90.93 and a 12-month high of $818.67. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 0.13.

Micron Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, March 30th were paid a $0.15 dividend. This is a boost from Micron Technology’s previous quarterly dividend of $0.12. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date was Monday, March 30th. Micron Technology’s dividend payout ratio (DPR) is presently 2.83%.

Micron Technology News Roundup

Here are the key news stories impacting Micron Technology this week:

Insider Buying and Selling at Micron Technology

In related news, EVP April S. Arnzen sold 40,000 shares of the business’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $347.39, for a total value of $13,895,600.00. Following the transaction, the executive vice president owned 125,737 shares in the company, valued at $43,679,776.43. The trade was a 24.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sanjay Mehrotra sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $536.26, for a total value of $21,450,400.00. Following the sale, the chief executive officer directly owned 424,503 shares of the company’s stock, valued at approximately $227,643,978.78. This represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 106,000 shares of company stock valued at $47,032,460. Company insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MU. Stifel Nicolaus raised their price objective on shares of Micron Technology from $360.00 to $550.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. Royal Bank Of Canada upped their target price on shares of Micron Technology from $425.00 to $525.00 and gave the company an “outperform” rating in a report on Monday, March 16th. Barclays increased their target price on shares of Micron Technology from $450.00 to $675.00 and gave the company an “overweight” rating in a research report on Thursday, March 19th. Rosenblatt Securities reissued a “buy” rating and issued a $500.00 price target on shares of Micron Technology in a research report on Monday, March 16th. Finally, Wedbush upped their price objective on shares of Micron Technology from $320.00 to $500.00 and gave the company an “outperform” rating in a research note on Friday, March 13th. Five equities research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $495.63.

Check Out Our Latest Stock Analysis on MU

About Micron Technology

(Free Report)

Micron Technology, Inc is a global semiconductor company that designs and manufactures memory and storage solutions. Its product portfolio includes dynamic random-access memory (DRAM), NAND flash memory, solid-state drives (SSDs), memory modules and embedded memory solutions for a wide range of computing and electronic devices. Micron supplies components used in data centers, enterprise and cloud infrastructure, client computing, mobile devices, automotive systems and industrial applications, and also markets consumer-facing products under the Crucial brand.

Founded in 1978 and headquartered in Boise, Idaho, Micron has grown into an international manufacturer with research, development and production facilities across multiple regions.

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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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