Rockefeller Capital Management L.P. Reduces Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Rockefeller Capital Management L.P. cut its stake in Micron Technology, Inc. (NASDAQ:MU) by 14.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 318,260 shares of the semiconductor manufacturer’s stock after selling 53,268 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Micron Technology were worth $26,812,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in MU. Sunbelt Securities Inc. lifted its position in shares of Micron Technology by 30.2% during the third quarter. Sunbelt Securities Inc. now owns 1,260 shares of the semiconductor manufacturer’s stock worth $131,000 after purchasing an additional 292 shares during the last quarter. SOA Wealth Advisors LLC. increased its stake in Micron Technology by 37.6% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 1,189 shares of the semiconductor manufacturer’s stock worth $123,000 after buying an additional 325 shares during the period. SkyView Investment Advisors LLC lifted its holdings in Micron Technology by 3.7% during the 3rd quarter. SkyView Investment Advisors LLC now owns 6,696 shares of the semiconductor manufacturer’s stock valued at $694,000 after buying an additional 241 shares in the last quarter. Pine Valley Investments Ltd Liability Co grew its stake in Micron Technology by 524.2% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 14,863 shares of the semiconductor manufacturer’s stock worth $1,541,000 after acquiring an additional 12,482 shares in the last quarter. Finally, Sanctuary Advisors LLC increased its position in shares of Micron Technology by 30.3% during the third quarter. Sanctuary Advisors LLC now owns 52,572 shares of the semiconductor manufacturer’s stock worth $5,396,000 after acquiring an additional 12,235 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Down 0.7 %

MU stock opened at $69.55 on Monday. The stock has a market capitalization of $77.73 billion, a PE ratio of 20.04 and a beta of 1.18. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $157.54. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The firm has a 50 day moving average of $90.66 and a 200 day moving average of $97.00.

Micron Technology (NASDAQ:MU) last announced 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 net margin of 13.34% and a return on equity of 8.32%. The firm had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same period in the previous year, the company earned $0.42 earnings per share. The business’s quarterly revenue was up 38.2% compared to the same quarter last year. Sell-side analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend is Monday, March 31st. Micron Technology’s dividend payout ratio is presently 11.03%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Mizuho lowered their price target on Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. Stifel Nicolaus dropped their price target on Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. The Goldman Sachs Group cut their price target on Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Rosenblatt Securities lowered their price objective on shares of Micron Technology from $250.00 to $200.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Finally, Royal Bank of Canada set a $125.00 target price on shares of Micron Technology in a research report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $129.36.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the sale, the executive vice president now directly owns 164,769 shares of the company’s stock, valued at $15,847,482.42. This trade represents a 8.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now directly 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 disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

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.