Ballast Inc. Decreases Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Ballast Inc. lessened its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 3.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,953 shares of the semiconductor manufacturer’s stock after selling 421 shares during the quarter. Ballast Inc.’s holdings in Micron Technology were worth $1,105,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Northern Trust Corp grew its position in Micron Technology by 0.7% during the third quarter. Northern Trust Corp now owns 10,833,670 shares of the semiconductor manufacturer’s stock valued at $737,015,000 after buying an additional 80,345 shares during the period. L2 Asset Management LLC grew its holdings in Micron Technology by 492.3% during the third quarter. L2 Asset Management LLC now owns 26,444 shares of the semiconductor manufacturer’s stock valued at $1,799,000 after purchasing an additional 21,979 shares during the period. Invesco Ltd. raised its stake in shares of Micron Technology by 11.8% in the third quarter. Invesco Ltd. now owns 8,807,926 shares of the semiconductor manufacturer’s stock worth $599,203,000 after buying an additional 927,302 shares during the period. Merlin Capital Inc purchased a new position in shares of Micron Technology during the 3rd quarter valued at about $407,000. Finally, Amitell Capital Pte Ltd grew its stake in shares of Micron Technology by 97.9% during the 3rd quarter. Amitell Capital Pte Ltd now owns 95,210 shares of the semiconductor manufacturer’s stock valued at $6,477,000 after acquiring an additional 47,105 shares during the period. 80.84% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $83.63, for a total value of $585,410.00. Following the completion of the transaction, the chief executive officer now directly owns 651,759 shares of the company’s stock, valued at approximately $54,506,605.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders sold 264,000 shares of company stock valued at $26,368,640. 0.32% of the stock is currently owned by corporate insiders.

Micron Technology Trading Down 1.1 %

MU opened at $117.89 on Friday. The business’s 50-day moving average is $91.35 and its two-hundred day moving average is $80.65. Micron Technology, Inc. has a 1 year low of $56.01 and a 1 year high of $122.46. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.69. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The company had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.35 billion. During the same quarter in the prior year, the company posted ($2.03) earnings per share. Micron Technology’s revenue for the quarter was up 57.7% compared to the same quarter last year. Sell-side analysts anticipate that Micron Technology, Inc. will post 0.01 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st will be paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend is Thursday, March 28th. Micron Technology’s dividend payout ratio (DPR) is presently -13.33%.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Citigroup lifted their price target on shares of Micron Technology from $95.00 to $150.00 and gave the company a “buy” rating in a report on Friday, March 15th. Needham & Company LLC lifted their target price on shares of Micron Technology from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Argus upgraded Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 price target for the company in a research note on Thursday, March 21st. TD Cowen boosted their price objective on Micron Technology from $120.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, March 21st. Finally, StockNews.com upgraded Micron Technology from a “sell” rating to a “hold” rating in a research report on Friday, March 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat, Micron Technology presently has an average rating of “Moderate Buy” and an average price target of $118.69.

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.