Knights of Columbus Asset Advisors LLC Reduces Holdings in Micron Technology, Inc. (NASDAQ:MU)

Knights of Columbus Asset Advisors LLC lowered its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 4.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 54,335 shares of the semiconductor manufacturer’s stock after selling 2,308 shares during the quarter. Knights of Columbus Asset Advisors LLC’s holdings in Micron Technology were worth $4,573,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Stonebrook Private Inc. raised its holdings in Micron Technology by 4.2% in the 3rd quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock worth $255,000 after acquiring an additional 98 shares during the period. Trivant Custom Portfolio Group LLC raised its holdings in Micron Technology by 20.0% in the 4th quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer’s stock worth $50,000 after acquiring an additional 100 shares during the period. Xcel Wealth Management LLC raised its holdings in Micron Technology by 1.8% in the 4th quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer’s stock worth $518,000 after acquiring an additional 108 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its holdings in Micron Technology by 3.8% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer’s stock worth $250,000 after acquiring an additional 108 shares during the period. Finally, Lebenthal Global Advisors LLC raised its holdings in Micron Technology by 1.5% in the 4th quarter. Lebenthal Global Advisors LLC now owns 7,474 shares of the semiconductor manufacturer’s stock worth $629,000 after acquiring an additional 114 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Down 8.0 %

Shares of NASDAQ MU opened at $94.72 on Friday. Micron Technology, Inc. has a one year low of $83.54 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’s 50 day simple moving average is $96.82 and its two-hundred day simple moving average is $98.21. The stock has a market capitalization of $105.53 billion, a P/E ratio of 27.30 and a beta of 1.23.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share 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 firm had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.93 billion. During the same quarter in the prior year, the firm posted $0.42 earnings per share. The business’s quarterly revenue was up 38.2% compared to the same quarter last year. As a group, analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend is Monday, March 31st. Micron Technology’s dividend payout ratio is currently 13.26%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. KGI Securities upgraded shares of Micron Technology to a “strong-buy” rating in a report on Friday, February 21st. JPMorgan Chase & Co. dropped their price objective on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a report on Friday. TD Cowen dropped their price objective on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Barclays boosted their price objective on shares of Micron Technology from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Rosenblatt Securities dropped their price objective on shares of Micron Technology from $250.00 to $200.00 and set a “buy” rating on the stock in a report on Friday. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.63.

Insider Buying and Selling at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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.