Micron Technology, Inc. (NASDAQ:MU) Position Trimmed by Black Swift Group LLC

Black Swift Group LLC trimmed its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 5.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,550 shares of the semiconductor manufacturer’s stock after selling 150 shares during the period. Black Swift Group LLC’s holdings in Micron Technology were worth $215,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in MU. Swedbank AB boosted its stake in Micron Technology by 30.4% in the 3rd quarter. Swedbank AB now owns 3,455,819 shares of the semiconductor manufacturer’s stock worth $358,403,000 after purchasing an additional 806,639 shares during the period. Janney Montgomery Scott LLC boosted its stake in Micron Technology by 12.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 120,731 shares of the semiconductor manufacturer’s stock worth $12,521,000 after purchasing an additional 13,051 shares during the period. United Advisor Group LLC acquired a new position in Micron Technology in the 3rd quarter worth approximately $753,000. Crestwood Advisors Group LLC boosted its stake in Micron Technology by 38.5% in the 3rd quarter. Crestwood Advisors Group LLC now owns 2,283 shares of the semiconductor manufacturer’s stock worth $237,000 after purchasing an additional 635 shares during the period. Finally, Beacon Financial Advisory LLC boosted its stake in Micron Technology by 6.4% in the 3rd quarter. Beacon Financial Advisory LLC now owns 3,093 shares of the semiconductor manufacturer’s stock worth $321,000 after purchasing an additional 186 shares during the period. 80.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MU. KGI Securities raised shares of Micron Technology to a “strong-buy” rating in a research note on Friday, February 21st. Wells Fargo & Company cut their target price on shares of Micron Technology from $175.00 to $140.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. JPMorgan Chase & Co. cut their target price on shares of Micron Technology from $180.00 to $145.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Sanford C. Bernstein cut their target price on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. Finally, UBS Group cut their target price on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $134.96.

Micron Technology Trading Up 3.4 %

Shares of NASDAQ MU opened at $94.34 on Thursday. Micron Technology, Inc. has a 1-year low of $83.54 and a 1-year high of $157.54. The company has a market cap of $105.11 billion, a PE ratio of 27.19 and a beta of 1.18. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The company has a 50-day moving average of $95.91 and a two-hundred day moving average of $98.60.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. The company had revenue of $8.71 billion during 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 company’s revenue was up 84.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.95) earnings per share. As a group, equities analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s dividend payout ratio is currently 13.26%.

Insider Activity at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total value of $223,403.72. Following the sale, the director now 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the sale, the executive vice president now directly owns 181,223 shares in the company, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

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.