Robeco Institutional Asset Management B.V. Sells 69,920 Shares of Micron Technology, Inc. (NASDAQ:MU)

Robeco Institutional Asset Management B.V. reduced its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 86.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 11,158 shares of the semiconductor manufacturer’s stock after selling 69,920 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Micron Technology were worth $952,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of MU. NorthRock Partners LLC raised its holdings in shares of Micron Technology by 31.5% in the fourth quarter. NorthRock Partners LLC now owns 4,135 shares of the semiconductor manufacturer’s stock valued at $353,000 after purchasing an additional 991 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc purchased a new stake in Micron Technology during the fourth quarter worth about $226,000. German American Bancorp Inc. raised its position in Micron Technology by 2.8% in the fourth quarter. German American Bancorp Inc. now owns 86,680 shares of the semiconductor manufacturer’s stock worth $7,397,000 after acquiring an additional 2,399 shares during the period. New Century Financial Group LLC purchased a new position in Micron Technology in the fourth quarter valued at about $567,000. Finally, Sound View Wealth Advisors Group LLC bought a new position in shares of Micron Technology during the 4th quarter valued at approximately $229,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on MU shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $140.00 price target on shares of Micron Technology in a report on Monday, March 18th. Mizuho boosted their target price on Micron Technology from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Barclays increased their price target on Micron Technology from $120.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, May 13th. Needham & Company LLC boosted their price objective on Micron Technology from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Finally, JPMorgan Chase & Co. upped their price objective on shares of Micron Technology from $105.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. Two investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat, Micron Technology has an average rating of “Moderate Buy” and a consensus target price of $126.92.

Insider Activity at Micron Technology

In related news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $91.54, for a total value of $640,780.00. Following the completion of the transaction, the chief executive officer now directly owns 788,557 shares in the company, valued at approximately $72,184,507.78. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $91.54, for a total value of $640,780.00. Following the sale, the chief executive officer now directly owns 788,557 shares of the company’s stock, valued at $72,184,507.78. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Michael W. Bokan sold 15,000 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $123.42, for a total value of $1,851,300.00. Following the transaction, the senior vice president now owns 138,387 shares of the company’s stock, valued at $17,079,723.54. The disclosure for this sale can be found here. Insiders have sold a total of 417,446 shares of company stock worth $48,198,323 in the last 90 days. Company insiders own 0.32% of the company’s stock.

Micron Technology Stock Down 0.0 %

MU stock opened at $126.27 on Friday. Micron Technology, Inc. has a one year low of $60.50 and a one year high of $131.95. The company’s 50 day moving average price is $117.33 and its two-hundred day moving average price is $95.13. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.69. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The firm had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.35 billion. During the same quarter last year, the business earned ($2.03) earnings per share. The business’s revenue was up 57.7% on a year-over-year basis. Equities research analysts forecast that Micron Technology, Inc. will post 0.29 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were paid a $0.115 dividend. The ex-dividend date was Thursday, March 28th. This represents a $0.46 annualized dividend and a dividend yield of 0.36%. Micron Technology’s payout ratio is presently -13.33%.

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.