Mmbg Investment Advisors CO. Sells 40,560 Shares of Micron Technology, Inc. (NASDAQ:MU)

Mmbg Investment Advisors CO. cut its holdings in Micron Technology, Inc. (NASDAQ:MU) by 38.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,000 shares of the semiconductor manufacturer’s stock after selling 40,560 shares during the quarter. Mmbg Investment Advisors CO.’s holdings in Micron Technology were worth $5,386,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Beacon Capital Management LLC lifted its position in Micron Technology by 114.9% during the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after purchasing an additional 200 shares during the period. Midwest Capital Advisors LLC acquired a new stake in Micron Technology during the 4th quarter worth approximately $33,000. Activest Wealth Management grew its position in Micron Technology by 583.3% during the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 350 shares during the period. Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Micron Technology during the fourth quarter valued at $34,000. Finally, Curio Wealth LLC purchased a new stake in Micron Technology during the fourth quarter valued at about $34,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the transaction, the director now owns 27,358 shares in the company, valued at approximately $2,542,378.94. This represents a 8.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of the firm’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value of $1,442,700.00. Following the completion of the sale, the executive vice president now directly owns 164,769 shares of the company’s stock, valued at approximately $15,847,482.42. This trade represents a 8.34% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,808 shares of company stock valued at $1,858,424. Company insiders own 0.30% of the company’s stock.

Micron Technology Trading Up 0.8%

NASDAQ MU opened at $85.86 on Monday. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $157.54. The firm has a market cap of $95.95 billion, a PE ratio of 24.74 and a beta of 1.21. The company has a 50 day moving average price of $82.62 and a 200 day moving average price of $92.89.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping the consensus estimate of $1.43 by $0.13. The firm had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business’s revenue for the quarter was up 38.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.42 EPS. As a group, sell-side analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $0.115 per share. The ex-dividend date was Monday, March 31st. This represents a $0.46 annualized dividend and a yield of 0.54%. Micron Technology’s dividend payout ratio is presently 11.03%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company reissued an “equal weight” rating on shares of Micron Technology in a report on Monday, April 28th. Barclays reduced their price objective on shares of Micron Technology from $115.00 to $95.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. JPMorgan Chase & Co. lowered their price objective on Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research report on Friday, March 21st. Morgan Stanley lowered their target price on Micron Technology from $112.00 to $98.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 7th. Finally, Royal Bank of Canada set a $125.00 price objective on Micron Technology in a report on Wednesday, March 19th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $126.48.

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.