River Road Asset Management LLC Sells 5,854 Shares of Micron Technology, Inc. (NASDAQ:MU)

River Road Asset Management LLC decreased its holdings in Micron Technology, Inc. (NASDAQ:MU) by 3.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 157,418 shares of the semiconductor manufacturer’s stock after selling 5,854 shares during the period. River Road Asset Management LLC’s holdings in Micron Technology were worth $13,248,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Micron Technology by 21.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock worth $1,174,643,000 after purchasing an additional 2,022,180 shares during the period. Raymond James Financial Inc. bought a new position in shares of Micron Technology in the fourth quarter worth about $135,865,000. State Street Corp increased its stake in Micron Technology by 3.1% in the 3rd quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock worth $5,001,592,000 after buying an additional 1,434,568 shares during the period. Worldquant Millennium Advisors LLC lifted its holdings in Micron Technology by 254.4% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 1,859,416 shares of the semiconductor manufacturer’s stock valued at $192,840,000 after buying an additional 1,334,690 shares in the last quarter. Finally, Bridgewater Associates LP purchased a new stake in Micron Technology in the 3rd quarter valued at about $102,018,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Up 2.3 %

Shares of MU opened at $89.05 on Wednesday. The stock has a 50 day moving average price of $96.12 and a 200 day moving average price of $98.07. Micron Technology, Inc. has a one year low of $83.54 and a one year high of $157.54. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The stock has a market capitalization of $99.22 billion, a price-to-earnings ratio of 25.66 and a beta of 1.23.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. The business 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 revenue for the quarter was up 84.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.95) earnings per share. Equities research analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date was Monday, December 30th. Micron Technology’s dividend payout ratio (DPR) is 13.26%.

Insider Transactions at Micron Technology

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.93, for a total value of $223,403.72. Following the transaction, the director now directly owns 27,358 shares in the company, valued at $2,542,378.94. The trade was a 8.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the sale, the executive vice president now owns 181,223 shares of the company’s stock, valued at $15,442,011.83. This represents a 2.63 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on MU. JPMorgan Chase & Co. reduced their target price on shares of Micron Technology from $180.00 to $145.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Mizuho reduced their price objective on Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, December 19th. UBS Group decreased their target price on Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Sanford C. Bernstein dropped their price target on Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. Finally, Wells Fargo & Company decreased their price objective on Micron Technology from $175.00 to $140.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $134.96.

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.