TCW Group Inc. Sells 51,698 Shares of Micron Technology, Inc. (NASDAQ:MU)

TCW Group Inc. trimmed its position in Micron Technology, Inc. (NASDAQ:MU) by 10.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 442,497 shares of the semiconductor manufacturer’s stock after selling 51,698 shares during the period. TCW Group Inc.’s holdings in Micron Technology were worth $37,241,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Harmony Asset Management LLC raised its stake in shares of Micron Technology by 75.6% in the third quarter. Harmony Asset Management LLC now owns 11,889 shares of the semiconductor manufacturer’s stock valued at $1,233,000 after purchasing an additional 5,120 shares in the last quarter. Lazard Freres Gestion S.A.S. raised its stake in Micron Technology by 241.7% during the third quarter. Lazard Freres Gestion S.A.S. now owns 41,000 shares of the semiconductor manufacturer’s stock worth $4,252,000 after acquiring an additional 29,000 shares in the last quarter. Chartwell Investment Partners LLC increased its stake in shares of Micron Technology by 26.4% in the third quarter. Chartwell Investment Partners LLC now owns 195,115 shares of the semiconductor manufacturer’s stock valued at $20,236,000 after buying an additional 40,802 shares in the last quarter. Stablepoint Partners LLC acquired a new stake in shares of Micron Technology in the fourth quarter valued at $569,000. Finally, State Street Corp increased 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 buying an additional 1,434,568 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on MU. Stifel Nicolaus decreased their price target on Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. China Renaissance started coverage on Micron Technology in a report on Monday, October 28th. They set a “buy” rating and a $148.00 target price on the stock. Cantor Fitzgerald reduced their target price on Micron Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Rosenblatt Securities restated a “buy” rating and set a $250.00 target price on shares of Micron Technology in a report on Wednesday, December 18th. Finally, Robert W. Baird reduced their target price on Micron Technology from $150.00 to $130.00 and set an “outperform” rating on the stock in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $134.96.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the business’s 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 sale, the executive vice president now directly owns 181,223 shares in the company, valued at $15,442,011.83. The trade was a 2.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.30% of the stock is currently owned by corporate insiders.

Micron Technology Stock Down 4.3 %

NASDAQ:MU opened at $98.78 on Friday. The firm has a market capitalization of $110.06 billion, a price-to-earnings ratio of 28.47 and a beta of 1.18. Micron Technology, Inc. has a twelve month low of $83.54 and a twelve month high of $157.54. The stock’s 50 day moving average price is $96.28 and its two-hundred day moving average price is $98.82. 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 (NASDAQ:MU) last issued 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. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. During the same period in the previous year, the company posted ($0.95) EPS. The firm’s revenue for the quarter was up 84.3% compared to the same quarter last year. Equities research analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal 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 paid a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 annualized dividend and a dividend yield of 0.47%. Micron Technology’s dividend payout ratio is currently 13.26%.

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.