Advisor Resource Council bought a new position in Micron Technology, Inc. (NASDAQ:MU - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The fund bought 5,251 shares of the semiconductor manufacturer's stock, valued at approximately $545,000.
A number of other large investors have also recently made changes to their positions in MU. Vanguard Group Inc. boosted its position in Micron Technology by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 96,666,590 shares of the semiconductor manufacturer's stock valued at $11,396,024,000 after buying an additional 1,681,815 shares during the period. Capital World Investors boosted its position in Micron Technology by 6.6% in the 1st quarter. Capital World Investors now owns 22,748,381 shares of the semiconductor manufacturer's stock valued at $2,681,807,000 after buying an additional 1,400,154 shares during the period. Capital International Investors boosted its position in Micron Technology by 15.1% in the 1st quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer's stock valued at $2,157,800,000 after buying an additional 2,397,885 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Micron Technology by 22.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer's stock valued at $2,150,743,000 after buying an additional 3,315,988 shares during the period. Finally, Van ECK Associates Corp lifted its position in shares of Micron Technology by 30.6% in the 3rd quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer's stock worth $1,109,769,000 after purchasing an additional 2,477,985 shares during the period. 80.84% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the sale, the executive vice president now directly owns 135,830 shares in the company, valued at $15,348,790. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is owned by company insiders.
Micron Technology Stock Performance
NASDAQ MU traded up $1.58 during mid-day trading on Thursday, reaching $113.41. 13,533,874 shares of the stock were exchanged, compared to its average volume of 21,795,264. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. The company has a market capitalization of $125.74 billion, a P/E ratio of 166.78 and a beta of 1.18. Micron Technology, Inc. has a 1 year low of $71.71 and a 1 year high of $157.54. The business's 50 day moving average is $99.49 and its 200-day moving average is $113.09.
Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.21. The business had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The company's revenue was up 93.3% compared to the same quarter last year. During the same period last year, the firm posted ($1.21) earnings per share. On average, equities research analysts forecast that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.
Micron Technology Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.41%. The ex-dividend date was Monday, October 7th. Micron Technology's payout ratio is currently 67.65%.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on the stock. UBS Group lowered their price target on shares of Micron Technology from $153.00 to $135.00 and set a "buy" rating for the company in a research report on Tuesday, September 17th. Morgan Stanley upped their price target on shares of Micron Technology from $100.00 to $114.00 and gave the stock an "equal weight" rating in a research report on Thursday, September 26th. China Renaissance started coverage on shares of Micron Technology in a research report on Monday, October 28th. They issued a "buy" rating and a $148.00 price target for the company. BNP Paribas lowered shares of Micron Technology from an "outperform" rating to an "underperform" rating and reduced their price objective for the stock from $140.00 to $67.00 in a research note on Thursday, September 12th. Finally, Wells Fargo & Company reduced their price objective on shares of Micron Technology from $190.00 to $175.00 and set an "overweight" rating for the company in a research note on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Micron Technology presently has an average rating of "Moderate Buy" and a consensus target price of $143.04.
Read Our Latest Stock Analysis on Micron Technology
Micron Technology Profile
(
Free Report)
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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