Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Donald Smith & CO. Inc.

Donald Smith & CO. Inc. cut its stake in Micron Technology, Inc. (NASDAQ:MU) by 0.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 604,518 shares of the semiconductor manufacturer’s stock after selling 488 shares during the period. Donald Smith & CO. Inc. owned about 0.05% of Micron Technology worth $51,590,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in MU. OFI Invest Asset Management purchased a new position in shares of Micron Technology during the third quarter worth about $27,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Micron Technology during the third quarter worth approximately $28,000. VisionPoint Advisory Group LLC grew its position in Micron Technology by 68.3% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock valued at $33,000 after buying an additional 198 shares during the last quarter. Cape Investment Advisory Inc. increased its stake in Micron Technology by 51.0% in the 3rd quarter. Cape Investment Advisory Inc. now owns 592 shares of the semiconductor manufacturer’s stock valued at $40,000 after buying an additional 200 shares during the period. Finally, Clear Street Markets LLC lifted its stake in shares of Micron Technology by 67.5% in the 3rd quarter. Clear Street Markets LLC now owns 623 shares of the semiconductor manufacturer’s stock worth $42,000 after acquiring an additional 251 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Price Performance

Shares of NASDAQ:MU traded down $0.48 on Monday, reaching $114.36. 14,408,877 shares of the company traded hands, compared to its average volume of 20,487,531. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. The stock has a market capitalization of $126.64 billion, a PE ratio of -32.94 and a beta of 1.27. The company’s 50 day moving average is $105.94 and its 200-day moving average is $88.43. Micron Technology, Inc. has a fifty-two week low of $59.55 and a fifty-two week high of $130.54.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.69. The firm had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The company’s revenue was up 57.7% on a year-over-year basis. During the same quarter last year, the business posted ($2.03) EPS. As a group, analysts anticipate that Micron Technology, Inc. will post 0.24 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were given a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend was Thursday, March 28th. Micron Technology’s dividend payout ratio is -13.33%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MU. StockNews.com upgraded Micron Technology from a “sell” rating to a “hold” rating in a research report on Friday, March 22nd. Fox Advisors upgraded shares of Micron Technology from an “equal weight” rating to an “overweight” rating in a research report on Thursday, March 21st. UBS Group upped their price target on Micron Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Cantor Fitzgerald boosted their target price on Micron Technology from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Finally, Raymond James boosted their price target on Micron Technology from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat.com, Micron Technology currently has a consensus rating of “Moderate Buy” and an average price target of $122.20.

Insiders Place Their Bets

In other Micron Technology news, CEO Sanjay Mehrotra sold 45,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $130.00, for a total value of $5,850,000.00. Following the sale, the chief executive officer now owns 728,557 shares of the company’s stock, valued at approximately $94,712,410. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total value of $583,377.00. Following the sale, the executive vice president now owns 148,817 shares of the company’s stock, valued at approximately $17,753,868.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sanjay Mehrotra sold 45,000 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $130.00, for a total transaction of $5,850,000.00. Following the completion of the sale, the chief executive officer now directly owns 728,557 shares in the company, valued at approximately $94,712,410. The disclosure for this sale can be found here. Insiders have sold 268,890 shares of company stock valued at $29,738,667 over the last three months. 0.32% of the stock is currently owned by insiders.

Micron Technology Company 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.