Stevens Capital Management LP Sells 64,350 Shares of Micron Technology, Inc. (NASDAQ:MU)

Stevens Capital Management LP cut its position in Micron Technology, Inc. (NASDAQ:MU) by 72.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 24,896 shares of the semiconductor manufacturer’s stock after selling 64,350 shares during the period. Micron Technology makes up 0.8% of Stevens Capital Management LP’s portfolio, making the stock its 22nd biggest holding. Stevens Capital Management LP’s holdings in Micron Technology were worth $2,095,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Micron Technology by 21.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock worth $1,174,643,000 after acquiring an additional 2,022,180 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Micron Technology during the fourth quarter worth about $135,865,000. State Street Corp grew its stake in Micron Technology by 3.1% during the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock worth $5,001,592,000 after purchasing an additional 1,434,568 shares during the period. Worldquant Millennium Advisors LLC grew its stake in Micron Technology by 254.4% during the third quarter. Worldquant Millennium Advisors LLC now owns 1,859,416 shares of the semiconductor manufacturer’s stock worth $192,840,000 after purchasing an additional 1,334,690 shares during the period. Finally, Bridgewater Associates LP acquired a new stake in Micron Technology during the third quarter worth approximately $102,018,000. 80.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on MU. TD Cowen decreased their target price on Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Robert W. Baird raised their target price on Micron Technology from $130.00 to $163.00 and gave the stock an “outperform” rating in a research note on Friday. Needham & Company LLC decreased their target price on Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Barclays raised their target price on Micron Technology from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Wells Fargo & Company decreased their target price on Micron Technology from $140.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $132.63.

Micron Technology Stock Performance

Shares of Micron Technology stock opened at $94.72 on Friday. The business’s fifty day simple moving average is $96.82 and its 200 day simple moving average is $98.28. The firm has a market capitalization of $105.53 billion, a P/E ratio of 27.30 and a beta of 1.23. Micron Technology, Inc. has a 12 month low of $83.54 and a 12 month high of $157.54. 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 issued its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. The business had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. Micron Technology’s quarterly revenue was up 38.2% compared to the same quarter last year. During the same period last year, the company posted $0.42 earnings per share. As a group, analysts anticipate 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 will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.115 per share. The ex-dividend date is Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a yield of 0.49%. Micron Technology’s dividend payout ratio (DPR) is currently 11.03%.

Insider Buying and Selling

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the sale, the director now directly owns 27,358 shares in the company, valued at $2,542,378.94. The trade was a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.30% of the stock is currently owned by corporate insiders.

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.