Massachusetts Financial Services Co. MA Sells 367 Shares of Micron Technology, Inc. (NASDAQ:MU)

Massachusetts Financial Services Co. MA trimmed its stake in Micron Technology, Inc. (NASDAQ:MU) by 3.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,437 shares of the semiconductor manufacturer’s stock after selling 367 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Micron Technology were worth $794,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Meeder Advisory Services Inc. raised its position in Micron Technology by 0.8% during the fourth quarter. Meeder Advisory Services Inc. now owns 19,821 shares of the semiconductor manufacturer’s stock valued at $1,668,000 after purchasing an additional 165 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Micron Technology by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 24,449,827 shares of the semiconductor manufacturer’s stock valued at $2,052,973,000 after buying an additional 726,282 shares in the last quarter. Nemes Rush Group LLC bought a new stake in Micron Technology in the 4th quarter worth approximately $40,000. Edmond DE Rothschild Holding S.A. boosted its stake in Micron Technology by 22.6% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 5,474 shares of the semiconductor manufacturer’s stock worth $461,000 after buying an additional 1,010 shares in the last quarter. Finally, AIA Group Ltd grew its position in Micron Technology by 95.3% during the fourth quarter. AIA Group Ltd now owns 13,368 shares of the semiconductor manufacturer’s stock valued at $1,125,000 after acquiring an additional 6,522 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Stock Down 4.1 %

NASDAQ:MU opened at $65.54 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The firm’s 50-day moving average price is $92.04 and its 200-day moving average price is $97.69. The company has a market capitalization of $73.25 billion, a PE ratio of 18.89 and a beta of 1.18. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $157.54.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business had revenue of $8.05 billion for the quarter, compared to analysts’ expectations of $7.93 billion. During the same quarter in the prior year, the company earned $0.42 earnings per share. The business’s revenue was up 38.2% compared to the same quarter last year. On average, equities analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend is Monday, March 31st. Micron Technology’s dividend payout ratio (DPR) is 11.03%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on MU shares. Wedbush restated an “outperform” rating and issued a $125.00 price objective on shares of Micron Technology in a report on Monday, March 17th. Needham & Company LLC cut their price target on shares of Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. JPMorgan Chase & Co. reduced their price objective on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Mizuho lowered their target price on Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday, December 19th. Finally, Morgan Stanley raised their price target on Micron Technology from $91.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Friday, March 21st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $129.76.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value of $1,442,700.00. Following the transaction, the executive vice president now directly owns 164,769 shares of the company’s stock, valued at approximately $15,847,482.42. This represents a 8.34 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the completion of the sale, the director now directly owns 27,358 shares of the company’s stock, valued at approximately $2,542,378.94. The trade was a 8.08 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

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.