Micron Technology, Inc. (NASDAQ:MU) Holdings Decreased by Veracity Capital LLC

Veracity Capital LLC reduced its holdings in Micron Technology, Inc. (NASDAQ:MU) by 65.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,528 shares of the semiconductor manufacturer’s stock after selling 4,757 shares during the period. Veracity Capital LLC’s holdings in Micron Technology were worth $213,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Harmony Asset Management LLC increased its stake in shares of Micron Technology by 75.6% in the third quarter. Harmony Asset Management LLC now owns 11,889 shares of the semiconductor manufacturer’s stock worth $1,233,000 after acquiring an additional 5,120 shares during the last quarter. Lazard Freres Gestion S.A.S. increased its position in Micron Technology by 241.7% in the 3rd quarter. Lazard Freres Gestion S.A.S. now owns 41,000 shares of the semiconductor manufacturer’s stock worth $4,252,000 after purchasing an additional 29,000 shares during the last quarter. Chartwell Investment Partners LLC raised its stake in shares of Micron Technology by 26.4% during the 3rd quarter. Chartwell Investment Partners LLC now owns 195,115 shares of the semiconductor manufacturer’s stock worth $20,236,000 after purchasing an additional 40,802 shares in the last quarter. State Street Corp lifted its holdings in shares of Micron Technology by 3.1% during the 3rd quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock valued at $5,001,592,000 after buying an additional 1,434,568 shares during the last quarter. Finally, Global X Japan Co. Ltd. grew its stake in shares of Micron Technology by 23.1% in the 3rd quarter. Global X Japan Co. Ltd. now owns 51,832 shares of the semiconductor manufacturer’s stock valued at $5,375,000 after buying an additional 9,735 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the transaction, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at $15,442,011.83. The trade was a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.30% of the stock is currently owned by corporate insiders.

Micron Technology Trading Down 1.6 %

Shares of Micron Technology stock opened at $103.19 on Friday. The company’s fifty day moving average price is $98.22 and its two-hundred day moving average price is $101.72. The firm has a market capitalization of $114.97 billion, a PE ratio of 29.74 and a beta of 1.18. Micron Technology, Inc. has a 52-week low of $79.15 and a 52-week 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.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.19. The firm had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company’s quarterly revenue was up 84.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.95) earnings per share. On average, analysts expect that Micron Technology, Inc. will post 6.29 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date was Monday, December 30th. Micron Technology’s dividend payout ratio (DPR) is 13.26%.

Analysts Set New Price Targets

MU has been the topic of several recent research reports. TD Cowen cut their price objective on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Barclays reduced their price objective on shares of Micron Technology from $145.00 to $110.00 and set an “overweight” rating for the company in a research note on Friday, December 20th. China Renaissance began coverage on shares of Micron Technology in a research report on Monday, October 28th. They set a “buy” rating and a $148.00 target price on the stock. Stifel Nicolaus decreased their price target on Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Finally, KeyCorp cut their price objective on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $135.24.

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.