Ceeto Capital Group LLC lifted its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 156.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 7,700 shares of the semiconductor manufacturer's stock after acquiring an additional 4,700 shares during the quarter. Ceeto Capital Group LLC's holdings in Micron Technology were worth $649,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in Micron Technology in the fourth quarter valued at approximately $1,470,875,000. FMR LLC grew its position in Micron Technology by 34.6% in the fourth quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer's stock worth $4,012,114,000 after acquiring an additional 12,249,341 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position 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 valued at $189,781,000 after purchasing an additional 1,742,073 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Micron Technology in the 4th quarter worth about $135,865,000. Finally, Vanguard Group Inc. increased its position in shares of Micron Technology by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer's stock valued at $8,403,982,000 after purchasing an additional 888,087 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
MU has been the subject of a number of research analyst reports. China Renaissance lowered Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price target for the company. in a research note on Wednesday, March 26th. Sanford C. Bernstein decreased their price target on shares of Micron Technology from $140.00 to $120.00 and set an "outperform" rating for the company in a research note on Wednesday, December 18th. Citigroup lowered their price objective on shares of Micron Technology from $120.00 to $110.00 and set a "buy" rating for the company in a report on Friday. Cantor Fitzgerald reissued an "overweight" rating and issued a $130.00 target price on shares of Micron Technology in a research report on Friday, March 21st. Finally, Stifel Nicolaus dropped their price target 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $129.36.
Read Our Latest Report on MU
Insider Buying and Selling
In other news, 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 transaction, the director now owns 27,358 shares in the company, valued at $2,542,378.94. This represents a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction that occurred on 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 completion of the sale, the executive vice president now owns 164,769 shares of the company's stock, valued at $15,847,482.42. This trade represents a 8.34 % 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.
Micron Technology Trading Up 0.0 %
Shares of Micron Technology stock traded up $0.02 on Tuesday, hitting $71.04. 18,497,539 shares of the company traded hands, compared to its average volume of 23,257,997. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $157.54. The company has a market cap of $79.39 billion, a PE ratio of 20.47 and a beta of 1.18. The stock's 50 day moving average price is $90.21 and its 200-day moving average price is $96.75. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28.
Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $7.93 billion. During the same quarter in the prior year, the company earned $0.42 EPS. The business's revenue was up 38.2% compared to the same quarter last year. Equities research analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current year.
Micron Technology Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.115 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.65%. Micron Technology's dividend payout ratio is presently 11.03%.
Micron Technology 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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