Ossiam Sells 1,407,481 Shares of Micron Technology, Inc. (NASDAQ:MU)

by · The Markets Daily

Ossiam cut its holdings in shares of Micron Technology, Inc. (NASDAQ:MU – Free Report) by 97.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,801 shares of the semiconductor manufacturer’s stock after selling 1,407,481 shares during the quarter. Ossiam’s holdings in Micron Technology were worth $3,686,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Beacon Capital Management LLC grew its holdings in shares of Micron Technology by 114.9% during the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after purchasing an additional 200 shares in the last quarter. Midwest Capital Advisors LLC acquired a new position in shares of Micron Technology in the 4th quarter valued at $33,000. Activest Wealth Management lifted its holdings in shares of Micron Technology by 583.3% during the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 350 shares during the period. Comprehensive Financial Planning Inc. PA bought a new stake in Micron Technology in the fourth quarter valued at about $34,000. Finally, Curio Wealth LLC acquired a new position in Micron Technology in the fourth quarter worth about $34,000. 80.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on MU shares. Royal Bank of Canada set a $125.00 target price on Micron Technology in a report on Wednesday, March 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $130.00 target price on shares of Micron Technology in a report on Friday, March 21st. Robert W. Baird boosted their price target on shares of Micron Technology from $130.00 to $163.00 and gave the company an “outperform” rating in a research report on Friday, March 21st. UBS Group raised 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, March 17th. Finally, Citigroup dropped their price target on Micron Technology from $120.00 to $110.00 and set a “buy” rating for the company in a report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $129.36.

Check Out Our Latest Report on Micron Technology

Micron Technology Price Performance

Shares of NASDAQ MU opened at $68.80 on Friday. The company has a fifty day moving average price of $88.23 and a 200 day moving average price of $95.89. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $157.54. The firm has a market cap of $76.89 billion, a PE ratio of 19.83 and a beta of 1.18. 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 (NASDAQ:MU – Get Free Report) last released its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. The firm had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business’s revenue was up 38.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.42 EPS. Research analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.115 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.46 annualized dividend and a dividend yield of 0.67%. Micron Technology’s dividend payout ratio is presently 11.03%.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the completion of the sale, the executive vice president now owns 164,769 shares in the company, valued at approximately $15,847,482.42. This trade represents a 8.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction dated 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 directly owns 27,358 shares in the company, valued at approximately $2,542,378.94. This represents 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 corporate insiders.

Micron Technology Profile

(Free Report)

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.

See Also

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