Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management Sells 106,000 Shares of Micron Technology, Inc. (NASDAQ:MU)

Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management decreased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 51.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 100,000 shares of the semiconductor manufacturer’s stock after selling 106,000 shares during the period. Micron Technology comprises 1.4% of Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management’s portfolio, making the stock its 23rd biggest holding. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management’s holdings in Micron Technology were worth $8,416,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in MU. Van ECK Associates Corp increased its position in shares of Micron Technology by 30.6% during the 3rd quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock worth $1,109,769,000 after purchasing an additional 2,477,985 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Micron Technology by 21.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock worth $1,174,643,000 after buying an additional 2,022,180 shares in the last quarter. State Street Corp raised its stake in shares of Micron Technology by 3.1% in the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock valued at $5,001,592,000 after acquiring an additional 1,434,568 shares during the last quarter. Worldquant Millennium Advisors LLC boosted its holdings in shares of Micron Technology by 254.4% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 1,859,416 shares of the semiconductor manufacturer’s stock worth $192,840,000 after acquiring an additional 1,334,690 shares in the last quarter. Finally, International Assets Investment Management LLC grew its position in Micron Technology by 1,233.7% during the 3rd quarter. International Assets Investment Management LLC now owns 1,430,619 shares of the semiconductor manufacturer’s stock worth $145,470,000 after acquiring an additional 1,323,352 shares during the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated 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 $15,442,011.83. This trade represents a 2.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on MU. Sanford C. Bernstein reduced their price objective on Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 18th. Barclays decreased their price objective on shares of Micron Technology from $145.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday, December 20th. Morgan Stanley dropped their target price on shares of Micron Technology from $114.00 to $98.00 and set an “equal weight” rating for the company in a research note on Thursday, December 19th. Piper Sandler reduced their target price on shares of Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Finally, Mizuho lowered their price target on shares of Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $135.24.

Micron Technology Trading Down 4.0 %

NASDAQ MU opened at $104.84 on Friday. Micron Technology, Inc. has a one year low of $79.15 and a one year high of $157.54. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The firm has a market cap of $116.81 billion, a P/E ratio of 30.21 and a beta of 1.18. The stock’s 50-day moving average is $98.11 and its 200-day moving average is $101.70.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, topping the consensus estimate of $1.60 by $0.19. The firm had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business’s quarterly revenue was up 84.3% on a year-over-year basis. During the same period last year, the company posted ($0.95) EPS. Sell-side analysts anticipate that Micron Technology, Inc. will post 6.25 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s dividend payout ratio is presently 13.26%.

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.