Crescent Grove Advisors LLC Sells 4,000 Shares of Micron Technology, Inc. (NASDAQ:MU)

Crescent Grove Advisors LLC lowered its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 27.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,708 shares of the semiconductor manufacturer’s stock after selling 4,000 shares during the quarter. Crescent Grove Advisors LLC’s holdings in Micron Technology were worth $915,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Micron Technology during the 3rd quarter worth approximately $28,000. OFI Invest Asset Management bought a new stake in Micron Technology in the 3rd quarter valued at $27,000. VisionPoint Advisory Group LLC boosted its stake in Micron Technology by 68.3% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock valued at $33,000 after purchasing an additional 198 shares during the period. Coppell Advisory Solutions LLC bought a new stake in Micron Technology in the 2nd quarter valued at $32,000. Finally, Fortis Capital Advisors LLC bought a new stake in Micron Technology in the 4th quarter valued at $25,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

MU has been the subject of a number of research analyst reports. BMO Capital Markets boosted their price target on Micron Technology from $80.00 to $90.00 and gave the stock an “outperform” rating in a report on Monday, December 18th. The Goldman Sachs Group upped their price target on Micron Technology from $85.00 to $97.00 and gave the company a “buy” rating in a research report on Thursday, December 21st. Rosenblatt Securities reiterated a “buy” rating and issued a $140.00 price target on shares of Micron Technology in a research report on Monday, March 18th. Fox Advisors upgraded Micron Technology from an “equal weight” rating to an “overweight” rating in a research report on Thursday, March 21st. Finally, Wells Fargo & Company upped their price target on Micron Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat, Micron Technology has an average rating of “Moderate Buy” and an average target price of $122.20.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $83.20, for a total transaction of $582,400.00. Following the sale, the chief executive officer now directly owns 642,251 shares in the company, valued at approximately $53,435,283.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $83.20, for a total transaction of $582,400.00. Following the transaction, the chief executive officer now directly owns 642,251 shares of the company’s stock, valued at approximately $53,435,283.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total value of $583,377.00. Following the transaction, the executive vice president now directly owns 148,817 shares in the company, valued at $17,753,868.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 313,890 shares of company stock worth $33,354,527. Insiders own 0.32% of the company’s stock.

Micron Technology Stock Performance

Shares of MU stock traded down $1.55 during midday trading on Tuesday, reaching $119.82. 5,937,801 shares of the stock were exchanged, compared to its average volume of 20,068,592. Micron Technology, Inc. has a 1 year low of $58.03 and a 1 year high of $130.54. The company’s 50 day moving average is $100.62 and its two-hundred day moving average is $85.63. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.69. The firm had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.35 billion. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The business’s revenue for the quarter was up 57.7% on a year-over-year basis. During the same quarter in the prior year, the business earned ($2.03) EPS. Research analysts expect that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st will be paid a dividend of $0.115 per share. The ex-dividend date is Thursday, March 28th. This represents a $0.46 annualized dividend and a yield of 0.38%. Micron Technology’s dividend payout ratio is -13.33%.

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.