Schonfeld Strategic Advisors LLC Has $4.38 Million Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Schonfeld Strategic Advisors LLC reduced its stake in Micron Technology, Inc. (NASDAQ:MU) by 63.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 52,000 shares of the semiconductor manufacturer’s stock after selling 89,416 shares during the quarter. Schonfeld Strategic Advisors LLC’s holdings in Micron Technology were worth $4,376,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. World Investment Advisors LLC raised its position in shares of Micron Technology by 103.7% in the 3rd quarter. World Investment Advisors LLC now owns 3,315 shares of the semiconductor manufacturer’s stock worth $344,000 after acquiring an additional 1,688 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Micron Technology in the third quarter worth approximately $576,000. Synovus Financial Corp lifted its stake in Micron Technology by 58.8% in the third quarter. Synovus Financial Corp now owns 21,859 shares of the semiconductor manufacturer’s stock valued at $2,267,000 after buying an additional 8,095 shares during the period. Peapack Gladstone Financial Corp boosted its holdings in shares of Micron Technology by 3.2% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 13,102 shares of the semiconductor manufacturer’s stock worth $1,359,000 after buying an additional 411 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in shares of Micron Technology by 4.6% during the 3rd quarter. Franklin Resources Inc. now owns 7,283,124 shares of the semiconductor manufacturer’s stock worth $789,054,000 after buying an additional 321,955 shares during the period. 80.84% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP April S. Arnzen sold 15,000 shares of the business’s stock in a transaction on 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 directly owns 164,769 shares in the company, valued at approximately $15,847,482.42. The trade was a 8.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the completion of the transaction, the director now owns 27,358 shares of the company’s stock, 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. Insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on MU. Rosenblatt Securities cut their target price on shares of Micron Technology from $250.00 to $200.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Wedbush restated an “underperform” rating on shares of Micron Technology in a research note on Monday. Royal Bank of Canada set a $125.00 price target on Micron Technology in a research note on Wednesday, March 19th. Morgan Stanley raised their price objective on Micron Technology from $91.00 to $112.00 and gave the company an “equal weight” rating in a research note on Friday, March 21st. Finally, UBS Group lowered their target price on Micron Technology from $130.00 to $92.00 and set a “buy” rating on the stock in a research report on Monday, April 28th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $127.04.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $80.72 on Friday. The company has a market capitalization of $90.21 billion, a P/E ratio of 23.26 and a beta of 1.18. The company’s 50-day moving average is $83.63 and its 200 day moving average is $94.00. 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 fifty-two week low of $61.54 and a fifty-two week high of $157.54.

Micron Technology (NASDAQ:MU) last released its earnings results 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. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm had revenue of $8.05 billion for the quarter, compared to analysts’ expectations of $7.93 billion. During the same period in the previous year, the company earned $0.42 earnings per share. The company’s quarterly revenue was up 38.2% on a year-over-year basis. On average, equities research analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.115 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.46 annualized dividend and a dividend yield of 0.57%. Micron Technology’s payout ratio is presently 11.03%.

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.