Los Angeles Capital Management LLC Sells 52,450 Shares of Micron Technology, Inc. (NASDAQ:MU)

Los Angeles Capital Management LLC cut its stake in Micron Technology, Inc. (NASDAQ:MU) by 40.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 78,808 shares of the semiconductor manufacturer’s stock after selling 52,450 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Micron Technology were worth $6,632,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Highline Wealth Partners LLC purchased a new position in shares of Micron Technology during the third quarter valued at approximately $26,000. Beacon Capital Management LLC boosted its holdings in Micron Technology by 114.9% during the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after acquiring an additional 200 shares during the period. True Wealth Design LLC boosted its holdings in Micron Technology by 1,096.3% during the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after acquiring an additional 296 shares during the period. Midwest Capital Advisors LLC bought a new position in Micron Technology in the 4th quarter valued at $33,000. Finally, Stone House Investment Management LLC increased its stake in 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 purchasing an additional 277 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the completion of the sale, the executive vice president now directly owns 181,223 shares in the company, valued at approximately $15,442,011.83. The trade was a 2.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.30% of the company’s stock.

Micron Technology Stock Performance

Shares of MU stock opened at $97.71 on Thursday. The stock has a market cap of $108.87 billion, a PE ratio of 28.16 and a beta of 1.18. Micron Technology, Inc. has a 52-week low of $83.54 and a 52-week high of $157.54. The business has a 50-day simple moving average of $95.59 and a 200-day simple moving average of $98.92. 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 (NASDAQ:MU) last released its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, topping the consensus estimate of $1.60 by $0.19. The business had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business’s quarterly revenue was up 84.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.95) EPS. On average, equities analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were issued a $0.115 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a yield of 0.47%. Micron Technology’s payout ratio is 13.26%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MU. The Goldman Sachs Group lowered their target price 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. Needham & Company LLC lowered their price target on Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, December 19th. KGI Securities upgraded Micron Technology to a “strong-buy” rating in a research note on Friday, February 21st. Stifel Nicolaus reduced their target price on Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Finally, Sanford C. Bernstein lowered their price target on Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Micron Technology presently has an average rating of “Moderate Buy” and an average price target of $134.96.

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.