Meeder Advisory Services Inc. Acquires 165 Shares of Micron Technology, Inc. (NASDAQ:MU)

Meeder Advisory Services Inc. boosted its holdings in Micron Technology, Inc. (NASDAQ:MU) by 0.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,821 shares of the semiconductor manufacturer’s stock after purchasing an additional 165 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Micron Technology were worth $1,668,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Norges Bank bought a new stake in Micron Technology in the fourth quarter worth $1,470,875,000. Nomura Asset Management Co. Ltd. grew its stake in shares of Micron Technology by 339.6% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 2,255,000 shares of the semiconductor manufacturer’s stock worth $189,781,000 after buying an additional 1,742,073 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Micron Technology in the 4th quarter worth about $135,865,000. State Street Corp raised its position in shares of Micron Technology by 3.1% during the 3rd quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock valued at $5,001,592,000 after buying an additional 1,434,568 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC lifted its holdings in shares of Micron Technology by 254.4% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 1,859,416 shares of the semiconductor manufacturer’s stock valued at $192,840,000 after acquiring an additional 1,334,690 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

Micron Technology Price Performance

Shares of MU opened at $88.60 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The company has a 50 day moving average price of $94.80 and a 200-day moving average price of $98.42. Micron Technology, Inc. has a fifty-two week low of $82.42 and a fifty-two week high of $157.54. The stock has a market capitalization of $99.02 billion, a PE ratio of 25.53 and a beta of 1.23.

Micron Technology (NASDAQ:MU) last announced its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.13. The business had revenue of $8.05 billion for the quarter, compared to analysts’ expectations of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business’s revenue for the quarter was up 38.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.42 EPS. Equities analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend is Monday, March 31st. Micron Technology’s dividend payout ratio is currently 11.03%.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the completion of the sale, the executive vice president now directly owns 164,769 shares in the company, valued at $15,847,482.42. This trade represents a 8.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the transaction, the director now owns 27,358 shares in the company, valued at $2,542,378.94. The trade was a 8.08 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on MU shares. Mizuho decreased their price objective on Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, December 19th. Barclays increased their price target on Micron Technology from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, March 21st. Wedbush reaffirmed an “outperform” rating and set a $125.00 price objective on shares of Micron Technology in a research note on Monday, March 17th. Stifel Nicolaus reduced their target price on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Finally, Royal Bank of Canada set a $125.00 target price on shares of Micron Technology in a report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $129.76.

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.