Generate Investment Management Ltd Sells 130,952 Shares of Micron Technology, Inc. (NASDAQ:MU)

Generate Investment Management Ltd decreased its holdings in Micron Technology, Inc. (NASDAQ:MU) by 62.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 77,375 shares of the semiconductor manufacturer’s stock after selling 130,952 shares during the quarter. Generate Investment Management Ltd’s holdings in Micron Technology were worth $6,512,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in MU. Harmony Asset Management LLC lifted its position in shares of Micron Technology by 75.6% during the third quarter. Harmony Asset Management LLC now owns 11,889 shares of the semiconductor manufacturer’s stock valued at $1,233,000 after purchasing an additional 5,120 shares in the last quarter. Lazard Freres Gestion S.A.S. increased its stake in Micron Technology by 241.7% in the 3rd quarter. Lazard Freres Gestion S.A.S. now owns 41,000 shares of the semiconductor manufacturer’s stock valued at $4,252,000 after buying an additional 29,000 shares during the last quarter. Chartwell Investment Partners LLC lifted its position in shares of Micron Technology by 26.4% during the 3rd quarter. Chartwell Investment Partners LLC now owns 195,115 shares of the semiconductor manufacturer’s stock worth $20,236,000 after buying an additional 40,802 shares in the last quarter. Stablepoint Partners LLC purchased a new position in shares of Micron Technology in the 4th quarter worth approximately $569,000. Finally, State Street Corp increased its position in shares of Micron Technology by 3.1% during the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock valued at $5,001,592,000 after acquiring an additional 1,434,568 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on MU shares. The Goldman Sachs Group reduced their price objective on Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. JPMorgan Chase & Co. reduced their price target on shares of Micron Technology from $180.00 to $145.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Needham & Company LLC lowered their price objective on shares of Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Barclays reduced their target price on shares of Micron Technology from $145.00 to $110.00 and set an “overweight” rating for the company in a research report on Friday, December 20th. Finally, Mizuho lowered their price target on shares of Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $134.96.

Micron Technology Stock Performance

Micron Technology stock opened at $92.30 on Friday. Micron Technology, Inc. has a 1-year low of $79.15 and a 1-year 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. The firm has a market capitalization of $102.84 billion, a PE ratio of 26.60 and a beta of 1.18. The firm’s 50 day simple moving average is $96.75 and its 200 day simple moving average is $99.31.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.19. The firm had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business’s quarterly revenue was up 84.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.95) earnings per share. As a group, analysts expect that Micron Technology, Inc. will post 6.29 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were given a dividend of $0.115 per share. The ex-dividend date was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.50%. Micron Technology’s dividend payout ratio (DPR) is presently 13.26%.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the transaction, the executive vice president now directly owns 181,223 shares in the company, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.30% of the stock is owned by 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.