Generate Investment Management Ltd Decreases Position in Micron Technology, Inc. (NASDAQ:MU)

Generate Investment Management Ltd trimmed its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 62.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 77,375 shares of the semiconductor manufacturer’s stock after selling 130,952 shares during the period. Generate Investment Management Ltd’s holdings in Micron Technology were worth $6,512,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of MU. Wedmont Private Capital raised its stake in shares of Micron Technology by 0.9% during the third quarter. Wedmont Private Capital now owns 12,887 shares of the semiconductor manufacturer’s stock valued at $1,326,000 after acquiring an additional 120 shares during the last quarter. Sanibel Captiva Trust Company Inc. increased its holdings in Micron Technology by 99.3% during the 3rd quarter. Sanibel Captiva Trust Company Inc. now owns 8,591 shares of the semiconductor manufacturer’s stock valued at $891,000 after purchasing an additional 4,281 shares during the period. UMB Bank n.a. increased its holdings in Micron Technology by 6.8% during the 3rd quarter. UMB Bank n.a. now owns 5,629 shares of the semiconductor manufacturer’s stock valued at $584,000 after purchasing an additional 356 shares during the period. WealthBridge Investment Counsel Inc. bought a new position in Micron Technology during the 3rd quarter valued at approximately $856,000. Finally, Boston Common Asset Management LLC grew its position in shares of Micron Technology by 16.1% in the 3rd quarter. Boston Common Asset Management LLC now owns 240,885 shares of the semiconductor manufacturer’s stock worth $24,982,000 after buying an additional 33,342 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Trading Down 2.4 %

Micron Technology stock opened at $92.30 on Friday. Micron Technology, Inc. has a one year low of $79.15 and a one year high of $157.54. The business’s fifty day moving average is $96.75 and its 200 day moving average is $99.31. The stock has a market capitalization of $102.84 billion, a PE ratio of 26.60 and a beta of 1.18. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.71 billion. During the same period in the previous year, the business posted ($0.95) earnings per share. The business’s revenue for the quarter was up 84.3% on a year-over-year basis. On average, sell-side analysts predict that Micron Technology, Inc. will post 6.29 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were issued a dividend of $0.115 per share. The ex-dividend date was Monday, December 30th. This represents a $0.46 annualized dividend and a dividend yield of 0.50%. Micron Technology’s payout ratio is 13.26%.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the transaction, the executive vice president now owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on MU shares. Needham & Company LLC decreased their target price on Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Wells Fargo & Company decreased their price objective on shares of Micron Technology from $175.00 to $140.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. TD Cowen cut their target price on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Sanford C. Bernstein decreased their price target on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, December 18th. Finally, Morgan Stanley reduced their target price on Micron Technology from $98.00 to $91.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $134.96.

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.