Capital Research Global Investors Purchases 9,489,579 Shares of Micron Technology, Inc. (NASDAQ:MU)

Capital Research Global Investors boosted its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 139.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,281,620 shares of the semiconductor manufacturer's stock after purchasing an additional 9,489,579 shares during the quarter. Capital Research Global Investors owned about 1.46% of Micron Technology worth $1,370,280,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the transaction, the executive vice president now owns 164,769 shares in the company, valued at $15,847,482.42. The trade was a 8.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction on 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 directly owns 27,358 shares of the company's stock, valued at $2,542,378.94. This represents a 8.08 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on MU shares. Barclays lowered 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. Wells Fargo & Company reduced their price objective on shares of Micron Technology from $140.00 to $130.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Royal Bank of Canada set a $125.00 target price on shares of Micron Technology in a research note on Wednesday, March 19th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $130.00 target price on shares of Micron Technology in a report on Friday, March 21st. Finally, China Renaissance downgraded shares of Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price objective for the company. in a report on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating, three have assigned 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 an average rating of "Moderate Buy" and an average target price of $128.56.

Micron Technology Trading Up 5.3 %

MU stock traded up $3.71 during trading on Wednesday, hitting $73.92. The company had a trading volume of 18,325,195 shares, compared to its average volume of 23,199,604. The stock has a market cap of $82.61 billion, a price-to-earnings ratio of 21.30 and a beta of 1.18. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The firm has a 50-day moving average price of $87.22 and a 200-day moving average price of $95.43. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $157.54.

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

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.115 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a yield of 0.62%. Micron Technology's dividend payout ratio is presently 11.03%.

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.