E. Ohman J or Asset Management AB Sells 1,400 Shares of Micron Technology, Inc. (NASDAQ:MU)

E. Ohman J or Asset Management AB lowered its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 2.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 48,530 shares of the semiconductor manufacturer’s stock after selling 1,400 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in Micron Technology were worth $4,217,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Xcel Wealth Management LLC raised its holdings in Micron Technology by 1.8% during the 4th quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer’s stock valued at $518,000 after buying an additional 108 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its holdings in Micron Technology by 3.8% during the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer’s stock valued at $250,000 after buying an additional 108 shares during the period. Twin Capital Management Inc. raised its holdings in Micron Technology by 0.5% during the 4th quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer’s stock valued at $1,688,000 after buying an additional 108 shares during the period. Cim Investment Management Inc. raised its holdings in Micron Technology by 0.5% during the 4th quarter. Cim Investment Management Inc. now owns 23,062 shares of the semiconductor manufacturer’s stock valued at $1,941,000 after buying an additional 114 shares during the period. Finally, Hazlett Burt & Watson Inc. raised its holdings in Micron Technology by 1.1% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 10,481 shares of the semiconductor manufacturer’s stock valued at $883,000 after buying an additional 119 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on MU. JPMorgan Chase & Co. reduced their target price on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Barclays reduced their target price on Micron Technology from $115.00 to $95.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Robert W. Baird increased their target price on Micron Technology from $130.00 to $163.00 and gave the stock an “outperform” rating in a research note on Friday, March 21st. Rosenblatt Securities reduced their target price on Micron Technology from $250.00 to $200.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Finally, Royal Bank of Canada set a $125.00 target price on Micron Technology in a research note on Wednesday, March 19th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Micron Technology has a consensus rating of “Moderate Buy” and a consensus price target of $128.20.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value of $1,442,700.00. Following the completion of the transaction, the executive vice president now directly owns 164,769 shares of the company’s stock, valued at approximately $15,847,482.42. The trade was a 8.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $80.00, for a total value of $192,320.00. Following the completion of the transaction, the director now directly owns 24,954 shares of the company’s stock, valued at $1,996,320. The trade was a 8.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

Micron Technology Price Performance

MU opened at $106.29 on Friday. The business’s 50-day moving average is $83.57 and its two-hundred day moving average is $92.09. 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. The firm has a market capitalization of $118.79 billion, a PE ratio of 30.63 and a beta of 1.21.

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

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date was Monday, March 31st. Micron Technology’s dividend payout ratio (DPR) 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.