Daiwa Securities Group Inc. Purchases 20,520 Shares of Micron Technology, Inc. (NASDAQ:MU)

Daiwa Securities Group Inc. grew its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 8.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 251,371 shares of the semiconductor manufacturer's stock after buying an additional 20,520 shares during the period. Daiwa Securities Group Inc.'s holdings in Micron Technology were worth $21,160,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in MU. Stonebrook Private Inc. grew its stake in shares of Micron Technology by 4.2% during the third quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer's stock worth $255,000 after purchasing an additional 98 shares during the period. John G Ullman & Associates Inc. increased its position in shares of Micron Technology by 2.5% in the 3rd quarter. John G Ullman & Associates Inc. now owns 4,063 shares of the semiconductor manufacturer's stock valued at $421,000 after buying an additional 100 shares in the last quarter. Trivant Custom Portfolio Group LLC raised its stake in Micron Technology by 20.0% during the 4th quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer's stock worth $50,000 after buying an additional 100 shares during the period. Xcel Wealth Management LLC raised its stake in Micron Technology by 1.8% during the 4th quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer's stock worth $518,000 after buying an additional 108 shares during the period. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its stake in Micron Technology by 3.8% during the 4th 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 buying an additional 108 shares during the period. Institutional investors and hedge funds own 80.84% of the company's stock.

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Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the transaction, the executive vice president now owns 181,223 shares in the company, valued at $15,442,011.83. This represents a 2.63 % decrease in their position. The sale 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 that occurred 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 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 position. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts recently commented on the company. Rosenblatt Securities reaffirmed a "buy" rating and set a $250.00 price objective on shares of Micron Technology in a research note on Wednesday, December 18th. Mizuho dropped their price objective on Micron Technology from $135.00 to $115.00 and set an "outperform" rating on the stock in a research note on Thursday, December 19th. JPMorgan Chase & Co. dropped their price objective on Micron Technology from $180.00 to $145.00 and set an "overweight" rating on the stock in a research note on Thursday, December 19th. Wells Fargo & Company dropped their price objective on shares of Micron Technology from $140.00 to $130.00 and set an "overweight" rating on the stock in a report on Thursday. Finally, UBS Group cut their price objective 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $134.56.

Micron Technology Stock Performance

Shares of MU stock traded down $0.76 on Thursday, reaching $94.88. The stock had a trading volume of 18,802,666 shares, compared to its average volume of 22,122,385. 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's 50-day moving average is $96.50 and its two-hundred day moving average is $98.04. The firm has a market capitalization of $105.71 billion, a price-to-earnings ratio of 27.34 and a beta of 1.23. Micron Technology, Inc. has a 12 month low of $83.54 and a 12 month high of $157.54.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company had revenue of $8.71 billion for the quarter, compared to analysts' expectations of $8.71 billion. During the same period in the prior year, the firm earned ($0.95) EPS. Micron Technology's quarterly revenue was up 84.3% compared to the same quarter last year. On average, research analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were paid a $0.115 dividend. The ex-dividend date was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a yield of 0.48%. Micron Technology's dividend payout ratio (DPR) is currently 13.26%.

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.