Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank reduced its position in Micron Technology, Inc. (NASDAQ:MU) by 25.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 823,610 shares of the semiconductor manufacturer’s stock after selling 284,400 shares during the quarter. Toronto Dominion Bank’s holdings in Micron Technology were worth $69,315,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Beacon Capital Management LLC increased its holdings in Micron Technology by 114.9% in the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after buying an additional 200 shares during the last quarter. Midwest Capital Advisors LLC acquired a new stake in shares of Micron Technology during the 4th quarter worth about $33,000. Activest Wealth Management lifted its stake in Micron Technology by 583.3% during the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 350 shares during the last quarter. Comprehensive Financial Planning Inc. PA acquired a new position in Micron Technology in the fourth quarter valued at approximately $34,000. Finally, Curio Wealth LLC purchased a new stake in shares of Micron Technology during the 4th quarter worth approximately $34,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on MU shares. JPMorgan Chase & Co. cut their price target on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Citigroup reduced their target price on Micron Technology from $120.00 to $110.00 and set a “buy” rating for the company in a report on Friday, April 11th. Rosenblatt Securities cut their price target on Micron Technology from $250.00 to $200.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Wedbush reissued an “underperform” rating on shares of Micron Technology in a report on Monday, April 28th. Finally, China Renaissance cut shares of Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 target price on the stock. in a report on Wednesday, March 26th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $126.48.

Insider Transactions at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the firm’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 sale, the director now directly owns 24,954 shares of the company’s stock, valued at approximately $1,996,320. This trade represents a 8.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of the company’s stock in a transaction 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 sale, the executive vice president now 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 disclosure for this sale can be found here. Insiders sold a total of 19,808 shares of company stock worth $1,858,424 over the last ninety days. 0.30% of the stock is currently owned by corporate insiders.

Micron Technology Stock Up 2.7%

MU opened at $98.00 on Friday. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $157.54. The company has a market cap of $109.52 billion, a price-to-earnings ratio of 28.24 and a beta of 1.21. The business’s fifty day moving average is $83.13 and its two-hundred day moving average is $92.61. 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 (NASDAQ:MU) last issued its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping 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 business had revenue of $8.05 billion during the quarter, compared to analysts’ expectations of $7.93 billion. During the same period last year, the company posted $0.42 EPS. The company’s revenue was up 38.2% on a year-over-year basis. Analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.115 per share. The ex-dividend date was Monday, March 31st. This represents a $0.46 annualized dividend and a dividend yield of 0.47%. Micron Technology’s dividend payout ratio is currently 11.03%.

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.