Metis Global Partners LLC Sells 4,019 Shares of Micron Technology, Inc. (NASDAQ:MU)

Metis Global Partners LLC lessened its holdings in Micron Technology, Inc. (NASDAQ:MU) by 8.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 41,499 shares of the semiconductor manufacturer’s stock after selling 4,019 shares during the quarter. Metis Global Partners LLC’s holdings in Micron Technology were worth $3,542,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Stratos Wealth Partners LTD. lifted its position in shares of Micron Technology by 10.2% during the third quarter. Stratos Wealth Partners LTD. now owns 14,636 shares of the semiconductor manufacturer’s stock worth $996,000 after purchasing an additional 1,355 shares during the last quarter. Brown Advisory Inc. boosted its position in Micron Technology by 32.3% in the 3rd quarter. Brown Advisory Inc. now owns 99,448 shares of the semiconductor manufacturer’s stock valued at $6,765,000 after buying an additional 24,277 shares during the period. Lindbrook Capital LLC grew its stake in Micron Technology by 12.2% in the 3rd quarter. Lindbrook Capital LLC now owns 4,150 shares of the semiconductor manufacturer’s stock worth $282,000 after acquiring an additional 451 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC increased its position in shares of Micron Technology by 13.1% during the third quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,411 shares of the semiconductor manufacturer’s stock worth $300,000 after acquiring an additional 510 shares during the period. Finally, Calamos Advisors LLC boosted its holdings in shares of Micron Technology by 9.7% in the third quarter. Calamos Advisors LLC now owns 574,151 shares of the semiconductor manufacturer’s stock valued at $39,059,000 after purchasing an additional 50,618 shares during the period. 80.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Citigroup reaffirmed a “buy” rating and set a $150.00 target price on shares of Micron Technology in a research report on Thursday, April 4th. StockNews.com upgraded shares of Micron Technology from a “sell” rating to a “hold” rating in a research note on Friday, March 22nd. Raymond James boosted their price objective on shares of Micron Technology from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. Bank of America lifted their price target on Micron Technology from $120.00 to $144.00 and gave the company a “buy” rating in a report on Monday, April 1st. Finally, Barclays raised their price target on shares of Micron Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a report on Monday, March 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $123.60.

Insider Buying and Selling at Micron Technology

In related news, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $84.84, for a total transaction of $593,880.00. Following the sale, the chief executive officer now directly owns 788,557 shares in the company, valued at $66,901,175.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $84.84, for a total value of $593,880.00. Following the completion of the sale, the chief executive officer now directly owns 788,557 shares of the company’s stock, valued at approximately $66,901,175.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott J. Deboer sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $110.31, for a total value of $4,412,400.00. Following the completion of the sale, the executive vice president now owns 158,617 shares of the company’s stock, valued at approximately $17,497,041.27. The disclosure for this sale can be found here. Insiders sold 323,890 shares of company stock valued at $36,079,267 in the last 90 days. Company insiders own 0.32% of the company’s stock.

Micron Technology Price Performance

MU traded up $5.43 during trading on Monday, reaching $120.13. The company’s stock had a trading volume of 22,502,885 shares, compared to its average volume of 20,283,590. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30. The firm has a fifty day simple moving average of $108.95 and a two-hundred day simple moving average of $89.96. The company has a market cap of $132.62 billion, a price-to-earnings ratio of -34.65 and a beta of 1.27. Micron Technology, Inc. has a 1 year low of $59.55 and a 1 year high of $130.54.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data 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. The firm had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. Micron Technology’s revenue was up 57.7% compared to the same quarter last year. During the same period last year, the business earned ($2.03) earnings per share. As a group, analysts anticipate that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were issued a dividend of $0.115 per share. The ex-dividend date was Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a yield of 0.38%. Micron Technology’s dividend payout ratio (DPR) is presently -13.33%.

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.