Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Amalgamated Bank

Amalgamated Bank reduced its holdings in Micron Technology, Inc. (NASDAQ:MU) by 8.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 268,963 shares of the semiconductor manufacturer’s stock after selling 24,044 shares during the quarter. Amalgamated Bank’s holdings in Micron Technology were worth $22,953,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. SRS Capital Advisors Inc. grew its position in Micron Technology by 19.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 7,512 shares of the semiconductor manufacturer’s stock worth $641,000 after purchasing an additional 1,197 shares in the last quarter. Los Angeles Capital Management LLC lifted its stake in Micron Technology by 130.2% in the 4th quarter. Los Angeles Capital Management LLC now owns 37,586 shares of the semiconductor manufacturer’s stock worth $3,208,000 after acquiring an additional 21,256 shares in the last quarter. Fisher Asset Management LLC boosted its position in Micron Technology by 0.9% during the 4th quarter. Fisher Asset Management LLC now owns 80,874 shares of the semiconductor manufacturer’s stock worth $6,902,000 after acquiring an additional 713 shares during the period. First Trust Direct Indexing L.P. increased its holdings in shares of Micron Technology by 15.5% in the 4th quarter. First Trust Direct Indexing L.P. now owns 22,893 shares of the semiconductor manufacturer’s stock valued at $1,954,000 after purchasing an additional 3,072 shares during the period. Finally, New York Life Investment Management LLC lifted its position in shares of Micron Technology by 0.8% in the fourth quarter. New York Life Investment Management LLC now owns 172,260 shares of the semiconductor manufacturer’s stock worth $14,701,000 after purchasing an additional 1,310 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Price Performance

MU stock traded up $2.37 during trading on Friday, hitting $114.70. The company had a trading volume of 15,556,356 shares, compared to its average volume of 20,261,770. Micron Technology, Inc. has a fifty-two week low of $59.55 and a fifty-two week high of $130.54. The company has a market cap of $127.02 billion, a P/E ratio of -33.25 and a beta of 1.27. The company has a fifty day moving average price of $108.38 and a two-hundred day moving average price of $89.36. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30.

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

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend was Thursday, March 28th. Micron Technology’s payout ratio is -13.33%.

Insider Buying and Selling

In other Micron Technology news, SVP Michael W. Bokan sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $115.55, for a total transaction of $1,733,250.00. Following the sale, the senior vice president now directly owns 153,387 shares in the company, valued at approximately $17,723,867.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Micron Technology news, SVP Michael W. Bokan sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $115.55, for a total transaction of $1,733,250.00. Following the sale, the senior vice president now directly owns 153,387 shares in the company, valued at approximately $17,723,867.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $82.03, for a total transaction of $574,210.00. Following the sale, the chief executive officer now owns 788,557 shares in the company, valued at $64,685,330.71. The disclosure for this sale can be found here. Insiders have sold 323,890 shares of company stock valued at $36,079,267 in the last 90 days. 0.32% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Rosenblatt Securities restated a “buy” rating and issued a $140.00 target price on shares of Micron Technology in a research note on Monday, March 18th. Argus upgraded shares of Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a report on Thursday, March 21st. TD Cowen lifted their price target on shares of Micron Technology from $120.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, March 21st. KeyCorp upped their price objective on shares of Micron Technology from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Finally, Needham & Company LLC boosted their target price on shares of Micron Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.20.

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.