Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. lessened its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 37.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,713 shares of the semiconductor manufacturer’s stock after selling 13,680 shares during the period. Jefferies Financial Group Inc.’s holdings in Micron Technology were worth $1,912,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Beacon Capital Management LLC increased its holdings in shares of Micron Technology by 114.9% during the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after buying an additional 200 shares during the last quarter. Midwest Capital Advisors LLC acquired a new position in shares of Micron Technology in the fourth quarter valued at approximately $33,000. Comprehensive Financial Planning Inc. PA acquired a new position in shares of Micron Technology in the fourth quarter worth $34,000. Curio Wealth LLC acquired a new position in shares of Micron Technology during the fourth quarter worth about $34,000. Finally, Activest Wealth Management grew its holdings in Micron Technology by 583.3% during the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 350 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Barclays lowered their price objective on Micron Technology from $115.00 to $95.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. decreased their target price on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research note on Friday, March 21st. Robert W. Baird increased their price target on Micron Technology from $130.00 to $163.00 and gave the stock an “outperform” rating in a report on Friday, March 21st. Royal Bank of Canada set a $125.00 target price on shares of Micron Technology in a research note on Wednesday, March 19th. Finally, Citigroup reduced their price objective on shares of Micron Technology from $120.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $126.48.

Micron Technology Stock Performance

NASDAQ:MU opened at $96.93 on Wednesday. The firm has a market cap of $108.33 billion, a PE ratio of 27.93 and a beta of 1.21. The firm has a 50 day simple moving average of $82.74 and a 200-day simple moving average of $92.81. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $157.54. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75.

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

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology’s dividend payout ratio (DPR) is presently 11.03%.

Insider Activity at Micron Technology

In other news, EVP April S. Arnzen sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the completion of the sale, the executive vice president now directly owns 164,769 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm’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 value of $223,403.72. Following the sale, the director now owns 27,358 shares of the company’s stock, valued at approximately $2,542,378.94. This trade represents a 8.08% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 19,808 shares of company stock worth $1,858,424. Corporate insiders own 0.30% of the company’s stock.

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.