Mitchell Capital Management Co. Lowers Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Mitchell Capital Management Co. trimmed its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 14.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 48,967 shares of the semiconductor manufacturer’s stock after selling 8,065 shares during the period. Mitchell Capital Management Co.’s holdings in Micron Technology were worth $4,121,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in MU. Swedbank AB boosted its position in Micron Technology by 30.4% during the 3rd quarter. Swedbank AB now owns 3,455,819 shares of the semiconductor manufacturer’s stock worth $358,403,000 after purchasing an additional 806,639 shares during the period. Financial Advocates Investment Management boosted its position in Micron Technology by 2.6% during the 3rd quarter. Financial Advocates Investment Management now owns 5,663 shares of the semiconductor manufacturer’s stock worth $587,000 after purchasing an additional 143 shares during the period. HM Payson & Co. boosted its position in Micron Technology by 93.3% during the 3rd quarter. HM Payson & Co. now owns 574 shares of the semiconductor manufacturer’s stock worth $60,000 after purchasing an additional 277 shares during the period. Hills Bank & Trust Co purchased a new stake in Micron Technology during the 3rd quarter worth $108,000. Finally, Americana Partners LLC lifted its holdings in Micron Technology by 152.0% in the 3rd quarter. Americana Partners LLC now owns 7,670 shares of the semiconductor manufacturer’s stock worth $795,000 after buying an additional 4,626 shares in the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Price Performance

MU opened at $93.63 on Friday. The firm has a market cap of $104.32 billion, a price-to-earnings ratio of 26.98 and a beta of 1.18. Micron Technology, Inc. has a fifty-two week low of $83.54 and a fifty-two week high of $157.54. The company’s 50-day moving average price is $95.75 and its 200 day moving average price is $98.88. 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 earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating the consensus estimate of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.71 billion. During the same period in the prior year, the business earned ($0.95) earnings per share. The business’s quarterly revenue was up 84.3% on a year-over-year basis. As a group, sell-side analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.49%. The ex-dividend date was Monday, December 30th. Micron Technology’s dividend payout ratio is presently 13.26%.

Analyst Ratings Changes

MU has been the topic of a number of recent analyst reports. TD Cowen cut their price objective on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Bank of America lowered shares of Micron Technology from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $125.00 to $110.00 in a report on Thursday, December 19th. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 price objective on shares of Micron Technology in a report on Wednesday, December 18th. Stifel Nicolaus cut their price objective on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Finally, Barclays cut their price objective on shares of Micron Technology from $145.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday, December 20th. One research 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $134.96.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were 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 of the company’s stock, valued at $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.30% of the company’s stock.

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.