Meeder Asset Management Inc. Has $3.04 Million Stake in Micron Technology, Inc. (NASDAQ:MU)

Meeder Asset Management Inc. decreased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 33.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,142 shares of the semiconductor manufacturer’s stock after selling 18,541 shares during the period. Meeder Asset Management Inc.’s holdings in Micron Technology were worth $3,042,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in MU. AIA Group Ltd grew its position in Micron Technology by 95.3% during the fourth quarter. AIA Group Ltd now owns 13,368 shares of the semiconductor manufacturer’s stock valued at $1,125,000 after buying an additional 6,522 shares during the period. Hazlett Burt & Watson Inc. grew its position in shares of Micron Technology by 1.1% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 10,481 shares of the semiconductor manufacturer’s stock valued at $883,000 after acquiring an additional 119 shares during the period. O Shaughnessy Asset Management LLC increased its stake in shares of Micron Technology by 1.8% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 106,222 shares of the semiconductor manufacturer’s stock worth $8,940,000 after purchasing an additional 1,853 shares during the last quarter. CIBC Private Wealth Group LLC raised its holdings in shares of Micron Technology by 43.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 14,178 shares of the semiconductor manufacturer’s stock worth $1,193,000 after purchasing an additional 4,264 shares during the period. Finally, California Public Employees Retirement System lifted its stake in Micron Technology by 3.8% in the fourth quarter. California Public Employees Retirement System now owns 4,067,046 shares of the semiconductor manufacturer’s stock valued at $342,283,000 after purchasing an additional 150,255 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Activity

In other news, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the completion of the sale, the executive vice president now directly owns 164,769 shares in the company, valued at approximately $15,847,482.42. This represents a 8.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company’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 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 position. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MU. Cantor Fitzgerald reiterated an “overweight” rating and set a $130.00 price target on shares of Micron Technology in a research note on Friday, March 21st. Morgan Stanley increased their target price on shares of Micron Technology from $91.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Friday, March 21st. Barclays upped their price target on shares of Micron Technology from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. The Goldman Sachs Group reduced their price objective on shares of Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Finally, Stifel Nicolaus cut their price target on Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $129.76.

Micron Technology Price Performance

Shares of Micron Technology stock opened at $88.44 on Monday. The firm has a market capitalization of $98.84 billion, a PE ratio of 25.49 and a beta of 1.23. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 12 month low of $83.54 and a 12 month high of $157.54. The business’s 50-day moving average price is $96.00 and its 200-day moving average price is $98.51.

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

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.46 annualized dividend and a yield of 0.52%. Micron Technology’s payout ratio is 11.03%.

Micron Technology Company 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.