Fiduciary Management Inc. WI Has $120.96 Million Stake in Micron Technology, Inc. (NASDAQ:MU)

Fiduciary Management Inc. WI lowered its holdings in Micron Technology, Inc. (NASDAQ:MU) by 4.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,437,244 shares of the semiconductor manufacturer’s stock after selling 72,786 shares during the period. Fiduciary Management Inc. WI owned about 0.13% of Micron Technology worth $120,958,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Beacon Capital Management LLC grew its stake in shares of Micron Technology by 114.9% in the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after buying an additional 200 shares in the last quarter. Midwest Capital Advisors LLC acquired a new stake in Micron Technology in the fourth quarter valued at $33,000. Comprehensive Financial Planning Inc. PA bought a new position in shares of Micron Technology in the 4th quarter valued at about $34,000. Curio Wealth LLC acquired a new position in shares of Micron Technology during the 4th quarter worth about $34,000. Finally, Activest Wealth Management raised its holdings in shares of Micron Technology by 583.3% in the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 350 shares during the period. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MU has been the topic of a number of recent analyst reports. Royal Bank of Canada set a $125.00 price target on Micron Technology in a research report on Wednesday, March 19th. Robert W. Baird boosted their target price on Micron Technology from $130.00 to $163.00 and gave the stock an “outperform” rating in a report on Friday, March 21st. UBS Group raised their price target on Micron Technology from $125.00 to $130.00 and gave the company a “buy” rating in a report on Monday, March 17th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $130.00 price objective on shares of Micron Technology in a report on Friday, March 21st. Finally, Rosenblatt Securities dropped their price objective on shares of Micron Technology from $250.00 to $200.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $129.36.

Insider Activity

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

Micron Technology Stock Down 0.8 %

MU stock opened at $68.80 on Friday. The business has a 50-day simple moving average of $88.23 and a 200 day simple moving average of $95.92. The company has a market cap of $76.89 billion, a PE ratio of 19.83 and a beta of 1.18. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $157.54.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.13. The business had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. Micron Technology’s revenue was up 38.2% compared to the same quarter last year. During the same period last year, the firm posted $0.42 earnings per share. Sell-side analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.46 annualized dividend and a dividend yield of 0.67%. Micron Technology’s dividend payout ratio (DPR) is presently 11.03%.

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.