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

Johnson Financial Group Inc. trimmed its holdings in Micron Technology, Inc. (NASDAQ:MU) by 36.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 706 shares of the semiconductor manufacturer’s stock after selling 398 shares during the period. Johnson Financial Group Inc.’s holdings in Micron Technology were worth $64,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Micron Technology during the 4th quarter worth about $1,470,875,000. Capital World Investors boosted its stake in shares of Micron Technology by 63.7% during the 4th quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer’s stock worth $3,458,673,000 after purchasing an additional 15,993,036 shares during the last quarter. FMR LLC boosted its stake in shares of Micron Technology by 34.6% during the 4th quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer’s stock worth $4,012,114,000 after purchasing an additional 12,249,341 shares during the last quarter. Capital Research Global Investors boosted its stake in shares of Micron Technology by 139.7% during the 4th quarter. Capital Research Global Investors now owns 16,281,620 shares of the semiconductor manufacturer’s stock worth $1,370,280,000 after purchasing an additional 9,489,579 shares during the last quarter. Finally, Capital International Investors boosted its stake in shares of Micron Technology by 36.3% during the 4th quarter. Capital International Investors now owns 16,437,080 shares of the semiconductor manufacturer’s stock worth $1,383,442,000 after purchasing an additional 4,375,232 shares during the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Morgan Stanley raised their price target on shares of Micron Technology from $91.00 to $112.00 and gave the stock an “equal weight” rating in a research note on Friday, March 21st. Robert W. Baird increased their price objective on shares of Micron Technology from $130.00 to $163.00 and gave the stock an “outperform” rating in a report on Friday, March 21st. Cantor Fitzgerald reiterated an “overweight” rating and set a $130.00 price objective on shares of Micron Technology in a report on Friday, March 21st. Royal Bank of Canada set a $125.00 price objective on shares of Micron Technology in a report on Wednesday, March 19th. Finally, Wells Fargo & Company reiterated an “equal weight” rating on shares of Micron Technology in a report on Monday. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $127.04.

Insider Transactions at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the 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 sale, the executive vice president now owns 164,769 shares in the company, valued at approximately $15,847,482.42. This trade represents a 8.34 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

Micron Technology Stock Performance

NASDAQ:MU opened at $78.56 on Tuesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The firm has a 50-day moving average of $85.19 and a two-hundred day moving average of $94.62. The stock has a market cap of $87.80 billion, a P/E ratio of 22.64 and a beta of 1.18. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $157.54.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. The company had revenue of $8.05 billion during the quarter, compared to analysts’ expectations of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm’s revenue for the quarter was up 38.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.42 EPS. On average, research analysts expect that Micron Technology, Inc. will post 6.08 earnings per share 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 given 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 0.59%. Micron Technology’s payout ratio is 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.