Micron Technology, Inc. (NASDAQ:MU) Shares Bought by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. grew its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 7,074.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 294,093 shares of the semiconductor manufacturer’s stock after purchasing an additional 289,994 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Micron Technology were worth $24,785,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Harmony Asset Management LLC boosted its holdings in Micron Technology by 75.6% in 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 during the period. Lazard Freres Gestion S.A.S. boosted its holdings in Micron Technology by 241.7% in the third quarter. Lazard Freres Gestion S.A.S. now owns 41,000 shares of the semiconductor manufacturer’s stock valued at $4,252,000 after purchasing an additional 29,000 shares during the period. Chartwell Investment Partners LLC boosted its holdings in Micron Technology by 26.4% in the third quarter. Chartwell Investment Partners LLC now owns 195,115 shares of the semiconductor manufacturer’s stock valued at $20,236,000 after purchasing an additional 40,802 shares during the period. Stablepoint Partners LLC purchased a new position in Micron Technology in the fourth quarter valued at $569,000. Finally, State Street Corp boosted its holdings in Micron Technology by 3.1% in 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 purchasing an additional 1,434,568 shares during the period. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the transaction, the executive vice president now owns 181,223 shares of the company’s stock, valued at $15,442,011.83. This represents a 2.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MU. JPMorgan Chase & Co. decreased their price target on Micron Technology from $180.00 to $145.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Stifel Nicolaus cut their target price on Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Wells Fargo & Company cut their target price on Micron Technology from $175.00 to $140.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. UBS Group cut their target price on Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Finally, The Goldman Sachs Group cut their target price on Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. One equities research 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $134.96.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $94.54 on Friday. The business’s 50 day simple moving average is $96.82 and its 200-day simple moving average is $99.34. The firm has a market capitalization of $105.33 billion, a price-to-earnings ratio of 27.24 and a beta of 1.18. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. Micron Technology, Inc. has a 12 month low of $79.15 and a 12 month high of $157.54.

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

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s payout ratio is currently 13.26%.

Micron Technology 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.