Capital Research Global Investors grew its holdings in Micron Technology, Inc. (NASDAQ:MU – Free Report) by 139.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,281,620 shares of the semiconductor manufacturer’s stock after buying an additional 9,489,579 shares during the quarter. Capital Research Global Investors owned 1.46% of Micron Technology worth $1,370,280,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. E Fund Management Co. Ltd. boosted its holdings in shares of Micron Technology by 31.8% in the 4th quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer’s stock worth $3,062,000 after acquiring an additional 8,780 shares in the last quarter. CIBC Private Wealth Group LLC increased its position in Micron Technology by 43.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 14,178 shares of the semiconductor manufacturer’s stock valued at $1,193,000 after acquiring an additional 4,264 shares in the last quarter. Stablepoint Partners LLC bought a new position in shares of Micron Technology in the fourth quarter worth about $569,000. Landscape Capital Management L.L.C. lifted its position in shares of Micron Technology by 167.0% during the fourth quarter. Landscape Capital Management L.L.C. now owns 45,758 shares of the semiconductor manufacturer’s stock worth $3,851,000 after purchasing an additional 28,621 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH increased its holdings in shares of Micron Technology by 11.7% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 502,374 shares of the semiconductor manufacturer’s stock valued at $42,280,000 after purchasing an additional 52,729 shares in the last quarter. 80.84% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have commented on MU. JPMorgan Chase & Co. decreased their price objective on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research report on Friday, March 21st. Barclays boosted their price objective on Micron Technology from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. Morgan Stanley raised their target price on shares of Micron Technology from $91.00 to $112.00 and gave the company an “equal weight” rating in a research note on Friday, March 21st. Citigroup reduced their price objective on shares of Micron Technology from $120.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Finally, Wells Fargo & Company decreased their price objective on Micron Technology from $140.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $129.36.
Insiders Place Their Bets
In other news, EVP April S. Arnzen sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was 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 of the company’s stock, valued at approximately $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.
Micron Technology Stock Down 0.8 %
NASDAQ MU opened at $68.80 on Friday. The company has a 50 day moving average of $88.23 and a 200-day moving average of $95.92. The company has a market cap of $76.89 billion, a price-to-earnings ratio of 19.83 and a beta of 1.18. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $157.54.
Micron Technology (NASDAQ:MU – Get Free Report) last issued its quarterly 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 company had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company’s revenue for the quarter was up 38.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.42 EPS. On average, equities research analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.
Micron Technology Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.67%. The ex-dividend date was Monday, March 31st. Micron Technology’s payout ratio is 11.03%.
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.
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