Micron Technology, Inc. (NASDAQ:MU) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN reduced its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 8.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,671 shares of the semiconductor manufacturer’s stock after selling 626 shares during the quarter. OLD National Bancorp IN’s holdings in Micron Technology were worth $569,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC lifted its holdings in shares of Micron Technology by 47.9% in the 3rd quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer’s stock valued at $1,489,801,000 after purchasing an additional 7,089,790 shares during the last quarter. Wellington Management Group LLP raised its stake in Micron Technology by 43.4% during the 3rd quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock valued at $1,182,608,000 after acquiring an additional 5,257,201 shares during the last quarter. Morgan Stanley raised its stake in Micron Technology by 19.7% during the 3rd quarter. Morgan Stanley now owns 17,303,400 shares of the semiconductor manufacturer’s stock valued at $1,177,151,000 after acquiring an additional 2,852,688 shares during the last quarter. Phoenix Holdings Ltd. raised its stake in shares of Micron Technology by 8,336.6% during the 3rd quarter. Phoenix Holdings Ltd. now owns 1,732,231 shares of the semiconductor manufacturer’s stock worth $117,762,000 after buying an additional 1,753,262 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Micron Technology by 11.8% during the 3rd quarter. Invesco Ltd. now owns 8,807,926 shares of the semiconductor manufacturer’s stock worth $599,203,000 after buying an additional 927,302 shares in the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Sanjay Mehrotra sold 45,000 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $130.00, for a total transaction of $5,850,000.00. Following the completion of the transaction, the chief executive officer now directly owns 728,557 shares of the company’s stock, valued at $94,712,410. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Micron Technology news, CEO Sanjay Mehrotra sold 45,000 shares of the company’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $130.00, for a total value of $5,850,000.00. Following the transaction, the chief executive officer now owns 728,557 shares of the company’s stock, valued at $94,712,410. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total value of $583,377.00. Following the completion of the transaction, the executive vice president now directly owns 148,817 shares in the company, valued at approximately $17,753,868.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 261,890 shares of company stock valued at $28,955,157. 0.32% of the stock is currently owned by insiders.

Micron Technology Price Performance

Shares of Micron Technology stock opened at $111.78 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. Micron Technology, Inc. has a fifty-two week low of $58.03 and a fifty-two week high of $130.54. The business has a 50-day moving average price of $104.64 and a 200 day moving average price of $87.69.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.69. The firm had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.35 billion. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. Micron Technology’s quarterly revenue was up 57.7% on a year-over-year basis. During the same period in the previous year, the company earned ($2.03) earnings per share. On average, analysts predict that Micron Technology, Inc. will post 0.24 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.41%. The ex-dividend date was Thursday, March 28th. Micron Technology’s dividend payout ratio (DPR) is presently -13.33%.

Analyst Upgrades and Downgrades

MU has been the subject of a number of analyst reports. Bank of America increased their target price on Micron Technology from $120.00 to $144.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. StockNews.com raised Micron Technology from a “sell” rating to a “hold” rating in a research note on Friday, March 22nd. Mizuho increased their target price on Micron Technology from $105.00 to $124.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. JPMorgan Chase & Co. increased their target price on Micron Technology from $105.00 to $130.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. Finally, Argus upgraded Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat.com, Micron Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.20.

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.