Micron Technology, Inc. (NASDAQ:MU) Shares Sold by AGF Management Ltd.

AGF Management Ltd. reduced its holdings in Micron Technology, Inc. (NASDAQ:MU) by 29.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,576 shares of the semiconductor manufacturer’s stock after selling 3,111 shares during the quarter. AGF Management Ltd.’s holdings in Micron Technology were worth $638,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. State Street Corp boosted its holdings in shares of Micron Technology by 3.1% in the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock valued at $5,001,592,000 after acquiring an additional 1,434,568 shares in the last quarter. Primecap Management Co. CA boosted its stake in Micron Technology by 0.6% during the 3rd quarter. Primecap Management Co. CA now owns 37,631,860 shares of the semiconductor manufacturer’s stock valued at $3,902,800,000 after purchasing an additional 206,499 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Micron Technology by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 23,723,545 shares of the semiconductor manufacturer’s stock valued at $2,451,987,000 after purchasing an additional 892,607 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Micron Technology by 21.7% in the 3rd 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 buying an additional 2,022,180 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Micron Technology by 1.5% in the fourth quarter. Bank of New York Mellon Corp now owns 9,956,311 shares of the semiconductor manufacturer’s stock valued at $837,923,000 after buying an additional 144,897 shares during the period. Institutional investors own 80.84% of the company’s stock.

Micron Technology Price Performance

MU opened at $100.79 on Friday. The stock has a fifty day moving average price of $96.72 and a 200 day moving average price of $98.05. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 1 year low of $83.54 and a 1 year high of $157.54. The stock has a market cap of $112.30 billion, a price-to-earnings ratio of 29.05 and a beta of 1.23.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 8.32% and a net margin of 13.34%. The firm’s revenue was up 84.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.95) EPS. Analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MU. Piper Sandler lowered their target price on Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. JPMorgan Chase & Co. dropped their target price on shares of Micron Technology from $180.00 to $145.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Wells Fargo & Company reduced their target price on shares of Micron Technology from $140.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday. Robert W. Baird dropped their price target on Micron Technology from $150.00 to $130.00 and set an “outperform” rating on the stock in a report on Thursday, December 19th. Finally, UBS Group reduced their price objective on Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $134.56.

Insider Activity

In related news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the completion of the sale, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the transaction, the director now owns 27,358 shares in the company, valued at $2,542,378.94. The trade was a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

About Micron Technology

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.