Boston Partners Lowers Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Boston Partners cut its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 7.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,323,124 shares of the semiconductor manufacturer’s stock after selling 428,193 shares during the period. Boston Partners’ holdings in Micron Technology were worth $454,822,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in MU. Generali Asset Management SPA SGR purchased a new stake in Micron Technology during the 4th quarter worth $2,602,000. Evoke Wealth LLC boosted its position in Micron Technology by 7.1% during the 4th quarter. Evoke Wealth LLC now owns 2,656 shares of the semiconductor manufacturer’s stock worth $224,000 after purchasing an additional 176 shares during the period. Horizon Investments LLC boosted its position in Micron Technology by 65.9% during the 4th quarter. Horizon Investments LLC now owns 45,663 shares of the semiconductor manufacturer’s stock worth $3,843,000 after purchasing an additional 18,143 shares during the period. Retirement Planning Co of New England Inc. boosted its position in Micron Technology by 6.1% during the 4th quarter. Retirement Planning Co of New England Inc. now owns 4,263 shares of the semiconductor manufacturer’s stock worth $359,000 after purchasing an additional 245 shares during the period. Finally, RD Lewis Holdings Inc. purchased a new stake in Micron Technology during the 4th quarter worth $866,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 27,358 shares of the company’s stock, valued at $2,542,378.94. This represents a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on MU shares. Morgan Stanley decreased their price target on shares of Micron Technology from $98.00 to $91.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. UBS Group boosted their price objective on shares of Micron Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Monday. Cantor Fitzgerald cut their price objective on shares of Micron Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. 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 report on Thursday, December 19th. Finally, Robert W. Baird cut their price objective on shares of Micron Technology from $150.00 to $130.00 and set an “outperform” rating on the stock in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $134.16.

Micron Technology Price Performance

NASDAQ MU opened at $103.11 on Tuesday. Micron Technology, Inc. has a 52 week low of $83.54 and a 52 week high of $157.54. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The stock has a market cap of $114.88 billion, a price-to-earnings ratio of 29.71 and a beta of 1.23. The company has a 50-day moving average price of $96.80 and a two-hundred day moving average price of $98.13.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, topping the consensus estimate of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.71 billion. During the same quarter in the prior year, the firm earned ($0.95) EPS. Micron Technology’s quarterly revenue was up 84.3% on a year-over-year basis. Analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

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

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.