Micron Technology, Inc. (NASDAQ:MU) Holdings Lifted by Northern Trust Corp

Northern Trust Corp boosted its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 13.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,712,056 shares of the semiconductor manufacturer’s stock after buying an additional 1,287,063 shares during the quarter. Northern Trust Corp owned 0.96% of Micron Technology worth $901,527,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of MU. Beacon Capital Management LLC lifted its holdings in shares of Micron Technology by 114.9% during the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after purchasing an additional 200 shares during the last quarter. Midwest Capital Advisors LLC purchased a new stake in shares of Micron Technology during the fourth quarter valued at $33,000. Activest Wealth Management lifted its stake in Micron Technology by 583.3% in the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 350 shares in the last quarter. Comprehensive Financial Planning Inc. PA purchased a new stake in Micron Technology in the 4th quarter worth about $34,000. Finally, Curio Wealth LLC purchased a new stake in Micron Technology in the 4th quarter worth about $34,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on MU shares. Rosenblatt Securities reduced their price objective on Micron Technology from $250.00 to $200.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Robert W. Baird increased their price objective on Micron Technology from $130.00 to $163.00 and gave the stock an “outperform” rating in a research note on Friday, March 21st. Barclays reduced their price objective on Micron Technology from $115.00 to $95.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Citigroup reduced their price objective on Micron Technology from $120.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Finally, UBS Group dropped their target price on Micron Technology from $130.00 to $92.00 and set a “buy” rating on the stock in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $127.04.

Micron Technology Price Performance

Shares of Micron Technology stock opened at $78.56 on Tuesday. The firm has a fifty day simple moving average of $85.19 and a 200-day simple moving average of $94.62. 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. The stock has a market capitalization of $87.80 billion, a price-to-earnings ratio of 22.64 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last released its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, beating the consensus estimate of $1.43 by $0.13. The firm had revenue of $8.05 billion during the quarter, compared to analysts’ expectations of $7.93 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 38.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.42 EPS. On average, sell-side analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology’s dividend payout ratio (DPR) is presently 11.03%.

Insider Activity

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

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.