TIAA Trust National Association Sells 3,813 Shares of Micron Technology, Inc. (NASDAQ:MU)

TIAA Trust National Association lowered its holdings in Micron Technology, Inc. (NASDAQ:MU) by 46.5% in the 4th quarter, Holdings Channel reports. The firm owned 4,394 shares of the semiconductor manufacturer’s stock after selling 3,813 shares during the period. TIAA Trust National Association’s holdings in Micron Technology were worth $370,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Beacon Capital Management LLC boosted its holdings in Micron Technology by 114.9% in the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after purchasing an additional 200 shares during the last quarter. True Wealth Design LLC lifted its holdings in shares of Micron Technology by 1,096.3% during the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after buying an additional 296 shares during the period. Midwest Capital Advisors LLC purchased a new position in shares of Micron Technology in the 4th quarter worth $33,000. Activest Wealth Management grew its holdings in shares of Micron Technology by 583.3% in the fourth 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. Finally, Comprehensive Financial Planning Inc. PA purchased a new stake in Micron Technology during the fourth quarter valued at $34,000. 80.84% of the stock is owned by institutional investors.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 15,000 shares of the firm’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value of $1,442,700.00. Following the completion of the sale, the executive vice president now directly owns 164,769 shares in the company, valued at $15,847,482.42. This trade represents a 8.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the transaction, the director now directly owns 27,358 shares of the company’s stock, valued at $2,542,378.94. The trade was 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 insiders.

Micron Technology Stock Down 3.0 %

MU opened at $88.44 on Friday. The company has a market capitalization of $98.84 billion, a PE ratio of 25.49 and a beta of 1.23. The firm has a 50-day simple moving average of $96.00 and a two-hundred day simple moving average of $98.37. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 52 week low of $83.54 and a 52 week high of $157.54.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.93 billion. During the same period in the prior year, the company earned $0.42 earnings per share. The firm’s revenue was up 38.2% on a year-over-year basis. Analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend is Monday, March 31st. Micron Technology’s dividend payout ratio is presently 11.03%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on MU shares. Morgan Stanley boosted their price target on Micron Technology from $91.00 to $112.00 and gave the company an “equal weight” rating in a research note on Friday, March 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $130.00 target price on shares of Micron Technology in a report on Friday, March 21st. Stifel Nicolaus dropped their price target on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Robert W. Baird upped their price objective on Micron Technology from $130.00 to $163.00 and gave the stock an “outperform” rating in a research note on Friday, March 21st. Finally, UBS Group lifted their target price on Micron Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, March 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $129.76.

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.