Russell Investments Group Ltd. Decreases Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Russell Investments Group Ltd. reduced its holdings in Micron Technology, Inc. (NASDAQ:MU) by 2.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,847,850 shares of the semiconductor manufacturer’s stock after selling 39,996 shares during the period. Russell Investments Group Ltd. owned about 0.17% of Micron Technology worth $157,711,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Exchange Traded Concepts LLC grew its position in Micron Technology by 411.2% in the third quarter. Exchange Traded Concepts LLC now owns 4,657 shares of the semiconductor manufacturer’s stock worth $317,000 after acquiring an additional 3,746 shares during the period. CX Institutional increased its position in shares of Micron Technology by 4.4% during the 3rd quarter. CX Institutional now owns 6,370 shares of the semiconductor manufacturer’s stock valued at $433,000 after purchasing an additional 271 shares during the period. Asset Management One Co. Ltd. lifted its holdings in shares of Micron Technology by 0.4% in the third quarter. Asset Management One Co. Ltd. now owns 456,840 shares of the semiconductor manufacturer’s stock valued at $31,079,000 after buying an additional 1,621 shares during the period. Handelsbanken Fonder AB boosted its stake in Micron Technology by 5.5% during the third quarter. Handelsbanken Fonder AB now owns 330,961 shares of the semiconductor manufacturer’s stock valued at $22,515,000 after buying an additional 17,287 shares in the last quarter. Finally, Slow Capital Inc. grew its holdings in Micron Technology by 5.3% during the third quarter. Slow Capital Inc. now owns 44,970 shares of the semiconductor manufacturer’s stock worth $3,059,000 after acquiring an additional 2,265 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Stock Performance

MU stock traded up $3.26 during midday trading on Friday, reaching $114.84. 20,612,299 shares of the company’s stock traded hands, compared to its average volume of 24,401,036. Micron Technology, Inc. has a 1-year low of $59.55 and a 1-year high of $130.54. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30. The company has a 50-day simple moving average of $105.94 and a two-hundred day simple moving average of $88.17.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The company had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same period in the previous year, the company earned ($2.03) EPS. The company’s revenue for the quarter was up 57.7% compared to the same quarter last year. As a group, research analysts predict that Micron Technology, Inc. will post 0.24 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were given a $0.115 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.40%. Micron Technology’s dividend payout ratio (DPR) is currently -13.33%.

Analyst Ratings Changes

A number of analysts recently issued reports on MU shares. Raymond James lifted their price objective on Micron Technology from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. Fox Advisors upgraded Micron Technology from an “equal weight” rating to an “overweight” rating in a research note on Thursday, March 21st. Needham & Company LLC increased their price target on Micron Technology from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Robert W. Baird boosted their price target on Micron Technology from $78.00 to $115.00 and gave the company a “neutral” rating in a research note on Tuesday, March 19th. Finally, Morgan Stanley increased their target price on shares of Micron Technology from $78.00 to $98.00 and gave the stock an “underweight” rating in a research note on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $122.20.

Insider Buying and Selling

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $111.93, for a total transaction of $783,510.00. Following the completion of the transaction, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at $80,483,154.57. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total transaction of $583,377.00. Following the completion of the sale, the executive vice president now directly owns 148,817 shares in the company, valued at $17,753,868.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $111.93, for a total value of $783,510.00. Following the transaction, the chief executive officer now owns 719,049 shares in the company, valued at $80,483,154.57. The disclosure for this sale can be found here. In the last three months, insiders have sold 268,890 shares of company stock valued at $29,738,667. 0.32% of the stock is owned by company insiders.

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.