Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Mirabella Financial Services LLP

Mirabella Financial Services LLP lowered its position in Micron Technology, Inc. (NASDAQ:MU) by 59.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 37,016 shares of the semiconductor manufacturer’s stock after selling 53,890 shares during the quarter. Mirabella Financial Services LLP’s holdings in Micron Technology were worth $3,115,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Beacon Capital Management LLC raised its holdings in Micron Technology by 114.9% in the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after buying an additional 200 shares during the period. Midwest Capital Advisors LLC purchased a new position in shares of Micron Technology during the 4th quarter worth approximately $33,000. Comprehensive Financial Planning Inc. PA acquired a new stake in Micron Technology in the 4th quarter valued at approximately $34,000. Curio Wealth LLC purchased a new stake in Micron Technology in the fourth quarter valued at approximately $34,000. Finally, Activest Wealth Management boosted its position in shares of Micron Technology by 583.3% during the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 350 shares during the period. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Royal Bank of Canada set a $125.00 target price on Micron Technology in a research note on Wednesday, March 19th. China Renaissance lowered Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 price objective on the stock. in a research report on Wednesday, March 26th. Wedbush reaffirmed an “outperform” rating and issued a $125.00 price target on shares of Micron Technology in a research report on Monday, March 17th. Wells Fargo & Company reduced their price objective on shares of Micron Technology from $140.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Finally, Morgan Stanley lifted their price target on Micron Technology from $91.00 to $112.00 and gave the stock an “equal weight” rating in a report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Micron Technology has a consensus rating of “Moderate Buy” and a consensus price target of $129.36.

Insider Activity

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the sale, the director now directly owns 27,358 shares in the company, valued at $2,542,378.94. This represents a 8.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the completion of the transaction, the executive vice president now owns 164,769 shares in the company, valued at $15,847,482.42. The trade was a 8.34 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Micron Technology Price Performance

MU stock opened at $68.80 on Friday. The company has a market cap of $76.89 billion, a price-to-earnings ratio of 19.83 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 firm has a 50 day moving average of $88.23 and a 200-day moving average of $95.89. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $157.54.

Micron Technology (NASDAQ:MU) last posted its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $7.93 billion. During the same period last year, the firm posted $0.42 EPS. The firm’s revenue for the quarter was up 38.2% on a year-over-year basis. As a group, equities analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.115 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a yield of 0.67%. Micron Technology’s dividend payout ratio (DPR) is 11.03%.

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.