FIL Ltd Has $21.77 Million Stock Position in Micron Technology, Inc. (NASDAQ:MU)

FIL Ltd lowered its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 85.7% during the fourth quarter, Holdings Channel reports. The firm owned 258,679 shares of the semiconductor manufacturer’s stock after selling 1,554,989 shares during the period. FIL Ltd’s holdings in Micron Technology were worth $21,770,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. E Fund Management Co. Ltd. boosted its position in Micron Technology by 31.8% during the fourth quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer’s stock worth $3,062,000 after purchasing an additional 8,780 shares during the period. CIBC Private Wealth Group LLC lifted its stake in shares of Micron Technology by 43.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 14,178 shares of the semiconductor manufacturer’s stock worth $1,193,000 after buying an additional 4,264 shares during the last quarter. Stablepoint Partners LLC bought a new stake in shares of Micron Technology during the 4th quarter worth $569,000. Landscape Capital Management L.L.C. grew its stake in Micron Technology by 167.0% in the 4th quarter. Landscape Capital Management L.L.C. now owns 45,758 shares of the semiconductor manufacturer’s stock valued at $3,851,000 after buying an additional 28,621 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH raised its holdings in Micron Technology by 11.7% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 502,374 shares of the semiconductor manufacturer’s stock worth $42,280,000 after acquiring an additional 52,729 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

MU has been the subject of a number of recent analyst reports. China Renaissance cut shares of Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 price target for the company. in a report on Wednesday, March 26th. Barclays boosted their price objective on Micron Technology from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. The Goldman Sachs Group lowered their target price on Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Mizuho cut their price target on Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $130.00 price objective on shares of Micron Technology in a research note on Friday, March 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $129.76.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 15,000 shares of the firm’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 value of $1,442,700.00. Following the completion of the sale, the executive vice president now owns 164,769 shares of the company’s stock, valued at $15,847,482.42. This trade represents a 8.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company’s 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 transaction, the director now directly owns 27,358 shares in the company, valued at approximately $2,542,378.94. This represents a 8.08 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

Micron Technology Stock Down 10.0 %

Shares of NASDAQ:MU opened at $70.05 on Friday. The company’s fifty day moving average is $91.08 and its 200-day moving average is $97.27. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $157.54. The company has a market capitalization of $78.29 billion, a PE ratio of 20.19 and a beta of 1.18.

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

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a yield of 0.66%. 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.