Ritholtz Wealth Management Reduces Position in Micron Technology, Inc. (NASDAQ:MU)

Ritholtz Wealth Management reduced its holdings in Micron Technology, Inc. (NASDAQ:MU) by 4.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,792 shares of the semiconductor manufacturer’s stock after selling 1,096 shares during the period. Ritholtz Wealth Management’s holdings in Micron Technology were worth $1,945,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Micron Technology by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 94,229,187 shares of the semiconductor manufacturer’s stock worth $6,410,412,000 after acquiring an additional 305,860 shares during the period. State Street Corp increased its stake in Micron Technology by 0.6% during the 2nd quarter. State Street Corp now owns 46,193,578 shares of the semiconductor manufacturer’s stock worth $2,915,277,000 after buying an additional 282,292 shares during the period. FMR LLC raised its position in 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 in the last quarter. Geode Capital Management LLC boosted its stake in shares of Micron Technology by 1.3% in the 1st quarter. Geode Capital Management LLC now owns 20,348,845 shares of the semiconductor manufacturer’s stock valued at $1,225,181,000 after buying an additional 253,179 shares during the period. Finally, Wellington Management Group LLP grew its position in shares of Micron Technology by 43.4% during the third quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock worth $1,182,608,000 after buying an additional 5,257,201 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $83.63, for a total value of $585,410.00. Following the completion of the transaction, the chief executive officer now owns 651,759 shares in the company, valued at approximately $54,506,605.17. The sale was disclosed in a filing with the SEC, which is available at this link. Over the last 90 days, insiders sold 264,000 shares of company stock valued at $26,368,640. Insiders own 0.32% of the company’s stock.

Micron Technology Stock Down 1.1 %

NASDAQ:MU traded down $1.36 during mid-day trading on Thursday, reaching $117.89. The stock had a trading volume of 21,018,062 shares, compared to its average volume of 18,961,887. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. The stock has a market cap of $130.55 billion, a P/E ratio of -34.17 and a beta of 1.24. The business’s 50 day moving average is $91.35 and its 200 day moving average is $80.65. Micron Technology, Inc. has a fifty-two week low of $56.01 and a fifty-two week high of $122.46.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, topping 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%. The company’s revenue for the quarter was up 57.7% on a year-over-year basis. During the same period in the previous year, the company earned ($2.03) EPS. As a group, sell-side analysts predict that Micron Technology, Inc. will post 0.01 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st will be given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date of this dividend is Thursday, March 28th. Micron Technology’s dividend payout ratio is currently -13.33%.

Analysts Set New Price Targets

A number of analysts have weighed in on MU shares. JPMorgan Chase & Co. raised their price target on Micron Technology from $105.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. StockNews.com upgraded shares of Micron Technology from a “sell” rating to a “hold” rating in a research note on Friday, March 22nd. Cantor Fitzgerald increased their target price on shares of Micron Technology from $100.00 to $120.00 and gave the company an “overweight” rating in a research report on Monday, March 18th. Citigroup boosted their price target on shares of Micron Technology from $95.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, March 15th. Finally, Needham & Company LLC raised their price objective on Micron Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat, Micron Technology has an average rating of “Moderate Buy” and a consensus price target of $118.69.

Micron Technology 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.