Duality Advisers LP Sells 37,044 Shares of Micron Technology, Inc. (NASDAQ:MU)

Duality Advisers LP trimmed its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 56.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,850 shares of the semiconductor manufacturer’s stock after selling 37,044 shares during the period. Duality Advisers LP’s holdings in Micron Technology were worth $3,401,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of MU. Norges Bank bought a new stake in shares of Micron Technology during the 4th quarter valued at $769,372,000. Wellington Management Group LLP raised its position in shares of Micron Technology by 43.4% during the 3rd quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock valued at $1,182,608,000 after purchasing an additional 5,257,201 shares during the period. California Public Employees Retirement System raised its position in shares of Micron Technology by 125.0% during the 4th quarter. California Public Employees Retirement System now owns 4,541,662 shares of the semiconductor manufacturer’s stock valued at $387,585,000 after purchasing an additional 2,523,267 shares during the period. Phoenix Holdings Ltd. grew its stake in Micron Technology by 8,336.6% during the third quarter. Phoenix Holdings Ltd. now owns 1,732,231 shares of the semiconductor manufacturer’s stock valued at $117,762,000 after acquiring an additional 1,753,262 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in Micron Technology by 28.9% during the first quarter. Van ECK Associates Corp now owns 7,566,572 shares of the semiconductor manufacturer’s stock valued at $892,023,000 after acquiring an additional 1,695,876 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MU. Wells Fargo & Company raised their target price on shares of Micron Technology from $135.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, June 20th. UBS Group cut their target price on shares of Micron Technology from $155.00 to $153.00 and set a “buy” rating for the company in a research note on Thursday, June 27th. KeyCorp raised their target price on shares of Micron Technology from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Tuesday. Morgan Stanley raised their target price on shares of Micron Technology from $130.00 to $140.00 and gave the company an “equal weight” rating in a research note on Monday, June 24th. Finally, StockNews.com raised shares of Micron Technology from a “sell” rating to a “hold” rating in a research note on Friday, March 22nd. Two analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $158.72.

Insider Activity

In other news, EVP Sumit Sadana sold 13,239 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $118.77, for a total value of $1,572,396.03. Following the completion of the sale, the executive vice president now owns 260,857 shares in the company, valued at approximately $30,981,985.89. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $120.70, for a total value of $844,900.00. Following the transaction, the chief executive officer now owns 719,049 shares of the company’s stock, valued at approximately $86,789,214.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Sumit Sadana sold 13,239 shares of Micron Technology stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $118.77, for a total transaction of $1,572,396.03. Following the completion of the transaction, the executive vice president now directly owns 260,857 shares in the company, valued at approximately $30,981,985.89. The disclosure for this sale can be found here. In the last quarter, insiders sold 250,730 shares of company stock worth $31,063,449. 0.32% of the stock is currently owned by corporate insiders.

Micron Technology Trading Up 2.8 %

MU traded up $3.65 on Friday, reaching $133.88. 15,152,857 shares of the company traded hands, compared to its average volume of 20,802,227. Micron Technology, Inc. has a one year low of $61.75 and a one year high of $157.54. The firm has a fifty day simple moving average of $131.84 and a two-hundred day simple moving average of $109.29. The company has a market cap of $148.45 billion, a P/E ratio of -94.42 and a beta of 1.18. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.14. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The company had revenue of $6.81 billion during the quarter, compared to analyst estimates of $6.67 billion. During the same quarter last year, the business posted ($1.57) EPS. The firm’s revenue for the quarter was up 81.5% on a year-over-year basis. As a group, equities research analysts expect that Micron Technology, Inc. will post 0.58 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th will be issued a $0.115 dividend. The ex-dividend date is Monday, July 8th. This represents a $0.46 annualized dividend and a dividend yield of 0.34%. Micron Technology’s dividend payout ratio is currently -32.39%.

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.