Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd lessened its position in Micron Technology, Inc. (NASDAQ:MU) by 1.1% in the 4th quarter, Holdings Channel reports. The fund owned 85,912 shares of the semiconductor manufacturer’s stock after selling 942 shares during the period. Gulf International Bank UK Ltd’s holdings in Micron Technology were worth $7,230,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Swedbank AB lifted its stake in shares of Micron Technology by 30.4% in the third quarter. Swedbank AB now owns 3,455,819 shares of the semiconductor manufacturer’s stock valued at $358,403,000 after purchasing an additional 806,639 shares during the period. Allworth Financial LP lifted its stake in shares of Micron Technology by 14.7% in the third quarter. Allworth Financial LP now owns 6,784 shares of the semiconductor manufacturer’s stock valued at $704,000 after purchasing an additional 872 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its stake in shares of Micron Technology by 12.4% in the third quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,865 shares of the semiconductor manufacturer’s stock valued at $297,000 after purchasing an additional 315 shares during the period. Integrated Advisors Network LLC lifted its stake in shares of Micron Technology by 116.0% in the third quarter. Integrated Advisors Network LLC now owns 22,732 shares of the semiconductor manufacturer’s stock valued at $2,358,000 after purchasing an additional 12,209 shares during the period. Finally, MONECO Advisors LLC increased its holdings in Micron Technology by 3.9% during the 3rd quarter. MONECO Advisors LLC now owns 4,909 shares of the semiconductor manufacturer’s stock valued at $509,000 after acquiring an additional 183 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were 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 of the company’s stock, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.30% of the company’s stock.

Micron Technology Stock Up 4.8 %

Micron Technology stock opened at $97.71 on Thursday. The company has a 50-day simple moving average of $95.59 and a 200-day simple moving average of $98.92. The firm has a market capitalization of $108.87 billion, a P/E ratio of 28.16 and a beta of 1.18. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. Micron Technology, Inc. has a one year low of $83.54 and a one year high of $157.54.

Micron Technology (NASDAQ:MU) last released its quarterly 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. The business had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company’s quarterly revenue was up 84.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($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 year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.47%. The ex-dividend date was Monday, December 30th. Micron Technology’s payout ratio is currently 13.26%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. 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. The Goldman Sachs Group lowered their price target on shares of Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Wells Fargo & Company lowered their price target on shares of Micron Technology from $175.00 to $140.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Bank of America downgraded shares of Micron Technology from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $125.00 to $110.00 in a report on Thursday, December 19th. Finally, Wedbush restated an “outperform” rating and issued a $140.00 target price on shares of Micron Technology in a report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Micron Technology presently has an average rating of “Moderate Buy” and an average target price of $134.96.

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.