Mizuho Securities Co. Ltd. Sells 4,750 Shares of Micron Technology, Inc. (NASDAQ:MU)

Mizuho Securities Co. Ltd. decreased its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 65.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,460 shares of the semiconductor manufacturer’s stock after selling 4,750 shares during the period. Micron Technology accounts for about 3.2% of Mizuho Securities Co. Ltd.’s investment portfolio, making the stock its 12th largest position. Mizuho Securities Co. Ltd.’s holdings in Micron Technology were worth $210,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Stone House Investment Management LLC boosted its stake in shares of Micron Technology by 602.2% in the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 277 shares during the period. True Wealth Design LLC boosted its stake in Micron Technology by 1,096.3% in the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after purchasing an additional 296 shares during the period. Beacon Capital Management LLC boosted its stake in Micron Technology by 114.9% in the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after purchasing an additional 200 shares during the period. Midwest Capital Advisors LLC bought a new stake in shares of Micron Technology during the fourth quarter valued at approximately $33,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new position in shares of Micron Technology in the fourth quarter worth $34,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Transactions at Micron Technology

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the firm’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 completion of the sale, the director now directly owns 27,358 shares in the company, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.30% of the company’s stock.

Micron Technology Stock Performance

Shares of Micron Technology stock opened at $94.18 on Wednesday. Micron Technology, Inc. has a 12 month low of $83.54 and a 12 month high of $157.54. The stock’s fifty day moving average price is $96.80 and its 200-day moving average price is $98.45. The firm has a market cap of $104.93 billion, a P/E ratio of 27.14 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 (NASDAQ:MU) last posted its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS 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 business had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.93 billion. During the same quarter in the previous year, the business posted $0.42 EPS. The company’s quarterly revenue was up 38.2% compared to the same quarter last year. On average, equities research analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.115 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.49%. Micron Technology’s dividend payout ratio is presently 11.03%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $130.00 target price on shares of Micron Technology in a research note on Friday, March 21st. Stifel Nicolaus cut their price objective on Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Wells Fargo & Company decreased their target price on Micron Technology from $140.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Citigroup cut their price target on Micron Technology from $150.00 to $120.00 and set a “buy” rating for the company in a report on Friday, March 21st. Finally, Mizuho decreased their price objective on Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Micron Technology presently has an average rating of “Moderate Buy” and a consensus target price of $132.63.

Micron Technology 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.