Fort Washington Investment Advisors Inc. OH Sells 1,127 Shares of Micron Technology, Inc. (NASDAQ:MU)

Fort Washington Investment Advisors Inc. OH cut its stake in Micron Technology, Inc. (NASDAQ:MU) by 0.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 501,247 shares of the semiconductor manufacturer’s stock after selling 1,127 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Micron Technology were worth $43,553,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in MU. Sunbeam Capital Management LLC bought a new position in shares of Micron Technology in the 4th quarter worth $26,000. Beacon Capital Management LLC grew its position in shares of Micron Technology by 114.9% during the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after acquiring an additional 200 shares during the period. Midwest Capital Advisors LLC acquired a new position in Micron Technology during the fourth quarter worth $33,000. Curio Wealth LLC acquired a new position in shares of Micron Technology during the fourth quarter valued at approximately $34,000. Finally, Hurley Capital LLC purchased a new position in shares of Micron Technology in the fourth quarter worth about $37,000. 80.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MU has been the subject of several research analyst reports. Mizuho increased their target price on shares of Micron Technology from $124.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, June 5th. Wedbush restated an “underperform” rating on shares of Micron Technology in a research note on Monday, April 28th. China Renaissance cut shares of Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 price target for the company. in a research note on Wednesday, March 26th. Royal Bank of Canada set a $125.00 target price on shares of Micron Technology in a report on Wednesday, March 19th. Finally, Wells Fargo & Company restated an “equal weight” rating on shares of Micron Technology in a research report on Monday, April 28th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $129.00.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $116.03 on Thursday. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $157.54. The company has a market cap of $129.67 billion, a PE ratio of 33.44 and a beta of 1.28. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The firm has a 50-day simple moving average of $86.24 and a 200 day simple moving average of $92.43.

Micron Technology (NASDAQ:MU) last released its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, beating the consensus estimate 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 quarter last year, the company earned $0.42 EPS. Micron Technology’s quarterly revenue was up 38.2% on a year-over-year basis. On average, sell-side analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The firm 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. This represents a $0.46 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology’s dividend payout ratio (DPR) is presently 11.03%.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the business’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the sale, the executive vice president now owns 164,769 shares of the company’s stock, valued at $15,847,482.42. The trade was a 8.34% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Scott J. Deboer sold 20,000 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $110.00, for a total value of $2,200,000.00. Following the completion of the transaction, the executive vice president now directly owns 186,353 shares of the company’s stock, valued at approximately $20,498,830. The trade was a 9.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,904 shares of company stock valued at $4,665,124. Insiders own 0.30% of the company’s stock.

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.