Swedbank AB Sells 6,263 Shares of Micron Technology, Inc. (NASDAQ:MU)

Swedbank AB reduced its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 0.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,449,556 shares of the semiconductor manufacturer’s stock after selling 6,263 shares during the quarter. Swedbank AB owned about 0.31% of Micron Technology worth $290,315,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Highline Wealth Partners LLC purchased a new stake in Micron Technology during the third quarter valued at about $26,000. Davis Capital Management purchased a new stake in shares of Micron Technology during the 3rd quarter valued at approximately $30,000. True Wealth Design LLC boosted its holdings in Micron Technology by 1,096.3% in the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after buying an additional 296 shares during the period. DT Investment Partners LLC lifted its position in shares of Micron Technology by 261.1% during the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 235 shares in the last quarter. Finally, Stone House Investment Management LLC boosted its holdings in shares of Micron Technology by 602.2% in the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 277 shares during the period. Institutional investors own 80.84% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MU. Needham & Company LLC reduced their price objective on Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. JPMorgan Chase & Co. lowered their target price on shares of Micron Technology from $180.00 to $145.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Rosenblatt Securities restated a “buy” rating and set a $250.00 price objective on shares of Micron Technology in a research report on Wednesday, December 18th. Wells Fargo & Company lowered their target price on Micron Technology from $175.00 to $140.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Finally, Robert W. Baird reduced their price objective on shares of Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $134.96.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the transaction, the executive vice president now owns 181,223 shares in the company, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.30% of the stock is currently owned by insiders.

Micron Technology Trading Up 0.7 %

NASDAQ MU traded up $0.62 during trading on Wednesday, hitting $88.87. The stock had a trading volume of 4,426,856 shares, compared to its average volume of 25,768,494. The company has a market capitalization of $99.01 billion, a PE ratio of 25.65 and a beta of 1.18. Micron Technology, Inc. has a twelve month low of $79.15 and a twelve month high of $157.54. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The firm has a 50 day moving average price of $98.04 and a 200 day moving average price of $100.48.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. The company had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. Micron Technology’s quarterly revenue was up 84.3% on a year-over-year basis. During the same period last year, the firm earned ($0.95) earnings per share. As a group, equities research analysts forecast that Micron Technology, Inc. will post 6.29 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were issued a $0.115 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.52%. Micron Technology’s payout ratio is 13.26%.

About Micron Technology

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.