Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp lessened its position in Micron Technology, Inc. (NASDAQ:MUFree Report) by 4.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,092 shares of the semiconductor manufacturer’s stock after selling 655 shares during the period. Peapack Gladstone Financial Corp’s holdings in Micron Technology were worth $1,203,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Micron Technology during the 4th quarter worth about $769,372,000. FMR LLC boosted its stake in Micron Technology by 47.9% during the 3rd quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer’s stock valued at $1,489,801,000 after purchasing an additional 7,089,790 shares during the period. Wellington Management Group LLP boosted its stake in Micron Technology by 43.4% during the 3rd quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock valued at $1,182,608,000 after purchasing an additional 5,257,201 shares during the period. Morgan Stanley boosted its stake in Micron Technology by 19.7% during the 3rd quarter. Morgan Stanley now owns 17,303,400 shares of the semiconductor manufacturer’s stock valued at $1,177,151,000 after purchasing an additional 2,852,688 shares during the period. Finally, California Public Employees Retirement System boosted its stake in Micron Technology by 125.0% during the 4th quarter. California Public Employees Retirement System now owns 4,541,662 shares of the semiconductor manufacturer’s stock valued at $387,585,000 after purchasing an additional 2,523,267 shares during the period. Institutional investors own 80.84% of the company’s stock.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP Sumit Sadana sold 13,239 shares of Micron Technology stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $118.77, for a total value of $1,572,396.03. Following the sale, the executive vice president now owns 260,857 shares of the company’s stock, valued at approximately $30,981,985.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Wednesday, March 27th. The stock was 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 $17,753,868.10. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Sumit Sadana sold 13,239 shares of Micron Technology stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $118.77, for a total value of $1,572,396.03. Following the completion of the sale, the executive vice president now directly owns 260,857 shares in the company, valued at approximately $30,981,985.89. The disclosure for this sale can be found here. Insiders have sold 410,446 shares of company stock valued at $47,822,703 in the last 90 days. 0.32% of the stock is currently owned by company insiders.

Micron Technology Stock Up 5.6 %

NASDAQ:MU opened at $133.71 on Thursday. Micron Technology, Inc. has a 12-month low of $60.50 and a 12-month high of $133.87. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $148.07 billion, a P/E ratio of -38.76 and a beta of 1.21. The stock’s fifty day simple moving average is $121.54 and its 200-day simple moving average is $98.68.

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

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.34%. The ex-dividend date was Thursday, March 28th. Micron Technology’s dividend payout ratio is -13.33%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on MU shares. Morgan Stanley raised Micron Technology from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $98.00 to $130.00 in a report on Monday, May 20th. Bank of America upped their price target on Micron Technology from $120.00 to $144.00 and gave the company a “buy” rating in a report on Monday, April 1st. Cantor Fitzgerald upped their price target on Micron Technology from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Monday, April 8th. KeyCorp increased their target price on Micron Technology from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $140.00 target price on shares of Micron Technology in a report on Monday, March 18th. Two investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat.com, Micron Technology has an average rating of “Moderate Buy” and a consensus target price of $128.76.

Get Our Latest Research Report on MU

Micron Technology Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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