Micron Technology, Inc. (NASDAQ:MU) Shares Purchased by Capital International Investors

Capital International Investors boosted its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 36.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,437,080 shares of the semiconductor manufacturer's stock after buying an additional 4,375,232 shares during the period. Capital International Investors owned approximately 1.48% of Micron Technology worth $1,383,442,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Trivant Custom Portfolio Group LLC raised its stake in Micron Technology by 20.0% in the 4th quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer's stock valued at $50,000 after acquiring an additional 100 shares during the period. Xcel Wealth Management LLC grew its stake in Micron Technology by 1.8% in the 4th quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer's stock valued at $518,000 after buying an additional 108 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its holdings in shares of Micron Technology by 3.8% in the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer's stock worth $250,000 after acquiring an additional 108 shares during the period. Twin Capital Management Inc. raised its stake in shares of Micron Technology by 0.5% during the 4th quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer's stock valued at $1,688,000 after purchasing an additional 108 shares during the period. Finally, Lebenthal Global Advisors LLC grew its holdings in Micron Technology by 1.5% during the 4th quarter. Lebenthal Global Advisors LLC now owns 7,474 shares of the semiconductor manufacturer's stock valued at $629,000 after buying an additional 114 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

Micron Technology Stock Performance

Shares of NASDAQ MU traded up $3.08 during trading on Tuesday, hitting $69.82. The company had a trading volume of 7,407,344 shares, compared to its average volume of 23,155,825. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $157.54. The firm has a market capitalization of $78.03 billion, a P/E ratio of 20.08 and a beta of 1.18. The stock has a 50 day simple moving average of $87.73 and a 200 day simple moving average of $95.60. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72.

Micron Technology (NASDAQ:MU - Get Free Report) last released its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.13. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company had revenue of $8.05 billion for the quarter, compared to analysts' expectations of $7.93 billion. During the same quarter in the previous year, the company earned $0.42 EPS. Micron Technology's revenue for the quarter was up 38.2% on a year-over-year basis. As a group, analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology's payout ratio is currently 11.03%.

Analysts Set New Price Targets

A number of equities analysts have commented on MU shares. Cantor Fitzgerald reissued an "overweight" rating and issued a $130.00 price target on shares of Micron Technology in a research note on Friday, March 21st. Morgan Stanley upped their price objective on Micron Technology from $91.00 to $112.00 and gave the stock an "equal weight" rating in a report on Friday, March 21st. Robert W. Baird upped their target price on Micron Technology from $130.00 to $163.00 and gave the stock an "outperform" rating in a research note on Friday, March 21st. KGI Securities upgraded shares of Micron Technology to a "strong-buy" rating in a report on Friday, February 21st. Finally, JPMorgan Chase & Co. decreased their target price on shares of Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a research report on Friday, March 21st. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $128.56.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value of $1,442,700.00. Following the transaction, the executive vice president now owns 164,769 shares of the company's stock, valued at $15,847,482.42. This represents a 8.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company's 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 completion of the transaction, the director now owns 27,358 shares in the company, 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. 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.