Allianz SE purchased a new position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 69,596 shares of the semiconductor manufacturer's stock, valued at approximately $5,930,000.
Several other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new stake in Micron Technology during the 4th quarter worth approximately $1,470,875,000. Nomura Asset Management Co. Ltd. lifted its stake in Micron Technology by 339.6% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 2,255,000 shares of the semiconductor manufacturer's stock worth $189,781,000 after purchasing an additional 1,742,073 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Micron Technology in the 4th quarter valued at $135,865,000. State Street Corp grew its holdings in shares of Micron Technology by 3.1% during the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer's stock worth $5,001,592,000 after purchasing an additional 1,434,568 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC increased its position in Micron Technology by 254.4% during the third quarter. Worldquant Millennium Advisors LLC now owns 1,859,416 shares of the semiconductor manufacturer's stock worth $192,840,000 after buying an additional 1,334,690 shares during the period. Hedge funds and other institutional investors own 80.84% of the company's stock.
Insider Activity
In other news, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction on 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 directly owns 164,769 shares of the company's stock, valued at approximately $15,847,482.42. The trade was a 8.34 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were 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 approximately $2,542,378.94. The trade was a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
MU has been the topic of a number of recent research reports. Robert W. Baird boosted their target price on Micron Technology from $130.00 to $163.00 and gave the company an "outperform" rating in a report on Friday, March 21st. TD Cowen lowered their target price on shares of Micron Technology from $135.00 to $125.00 and set a "buy" rating on the stock in a research report on Thursday, December 19th. Citigroup cut their price objective on Micron Technology from $150.00 to $120.00 and set a "buy" rating for the company in a research report on Friday, March 21st. Needham & Company LLC decreased their price objective on Micron Technology from $140.00 to $120.00 and set a "buy" rating on the stock in a report on Thursday, December 19th. Finally, UBS Group boosted their target price on shares of Micron Technology from $125.00 to $130.00 and gave the company a "buy" rating in a report on Monday, March 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $129.76.
Read Our Latest Report on Micron Technology
Micron Technology Stock Performance
NASDAQ MU traded up $1.80 on Tuesday, hitting $88.69. 11,508,279 shares of the stock were exchanged, compared to its average volume of 22,825,874. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The business's fifty day moving average is $95.62 and its 200 day moving average is $98.51. The company has a market capitalization of $99.11 billion, a PE ratio of 25.52 and a beta of 1.23. Micron Technology, Inc. has a 52 week low of $83.54 and a 52 week high of $157.54.
Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.43 by $0.13. The firm had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business's revenue for the quarter was up 38.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.42 EPS. Research analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.
Micron Technology Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.115 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.46 annualized dividend and a dividend yield of 0.52%. Micron Technology's dividend payout ratio is currently 11.03%.
Micron Technology Company Profile
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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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