Cigna Investments Inc. New Has $954,000 Position in Micron Technology, Inc. (NASDAQ:MU)

Cigna Investments Inc. New reduced its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 1.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,336 shares of the semiconductor manufacturer’s stock after selling 115 shares during the quarter. Cigna Investments Inc. New’s holdings in Micron Technology were worth $954,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of MU. Sovran Advisors LLC acquired a new stake in shares of Micron Technology in the fourth quarter valued at $738,000. Strengthening Families & Communities LLC increased its position in Micron Technology by 155.7% in the fourth quarter. Strengthening Families & Communities LLC now owns 1,575 shares of the semiconductor manufacturer’s stock worth $133,000 after purchasing an additional 959 shares during the period. Focus Financial Network Inc. increased its position in Micron Technology by 69.8% in the fourth quarter. Focus Financial Network Inc. now owns 4,550 shares of the semiconductor manufacturer’s stock worth $383,000 after purchasing an additional 1,871 shares during the period. Sapient Capital LLC increased its position in Micron Technology by 5.8% in the fourth quarter. Sapient Capital LLC now owns 4,343 shares of the semiconductor manufacturer’s stock worth $366,000 after purchasing an additional 240 shares during the period. Finally, Sycomore Asset Management increased its position in Micron Technology by 14.8% in the fourth quarter. Sycomore Asset Management now owns 155,733 shares of the semiconductor manufacturer’s stock worth $13,106,000 after purchasing an additional 20,066 shares during the period. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on the company. Needham & Company LLC lowered their price objective on Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. JPMorgan Chase & Co. cut their price objective on Micron Technology from $180.00 to $145.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. UBS Group cut their price objective on Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Stifel Nicolaus cut their price objective on Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Finally, Wells Fargo & Company cut their price objective on Micron Technology from $175.00 to $140.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.96.

Micron Technology Stock Up 3.9 %

MU stock opened at $95.93 on Tuesday. 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 $106.88 billion, a PE ratio of 27.65 and a beta of 1.18. Micron Technology, Inc. has a 1-year low of $79.15 and a 1-year high of $157.54. The business’s 50 day simple moving average is $96.63 and its 200 day simple moving average is $98.96.

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

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors 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 annualized dividend and a dividend yield of 0.48%. Micron Technology’s dividend payout ratio is currently 13.26%.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 4,890 shares of the 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 sale, the executive vice president now owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.30% of the stock is 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.