Fort Washington Investment Advisors Inc. OH grew its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 11.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 502,374 shares of the semiconductor manufacturer's stock after purchasing an additional 52,729 shares during the quarter. Fort Washington Investment Advisors Inc. OH's holdings in Micron Technology were worth $42,280,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MU. Harmony Asset Management LLC grew its position in shares of Micron Technology by 75.6% during the third quarter. Harmony Asset Management LLC now owns 11,889 shares of the semiconductor manufacturer's stock worth $1,233,000 after acquiring an additional 5,120 shares during the last quarter. Lazard Freres Gestion S.A.S. grew its position in Micron Technology by 241.7% in the 3rd quarter. Lazard Freres Gestion S.A.S. now owns 41,000 shares of the semiconductor manufacturer's stock valued at $4,252,000 after buying an additional 29,000 shares during the last quarter. Chartwell Investment Partners LLC grew its position in Micron Technology by 26.4% in the 3rd quarter. Chartwell Investment Partners LLC now owns 195,115 shares of the semiconductor manufacturer's stock valued at $20,236,000 after buying an additional 40,802 shares during the last quarter. State Street Corp grew its position in Micron Technology by 3.1% in the 3rd quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer's stock valued at $5,001,592,000 after buying an additional 1,434,568 shares during the last quarter. Finally, Global X Japan Co. Ltd. grew its position in Micron Technology by 23.1% in the 3rd quarter. Global X Japan Co. Ltd. now owns 51,832 shares of the semiconductor manufacturer's stock valued at $5,375,000 after buying an additional 9,735 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.
Insider Buying and Selling at Micron Technology
In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the sale, the executive vice president now directly owns 181,223 shares in the company, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.30% of the stock is currently owned by insiders.
Micron Technology Stock Up 0.7 %
Micron Technology stock traded up $0.79 during midday trading on Wednesday, hitting $110.17. 10,078,939 shares of the stock were exchanged, compared to its average volume of 24,890,836. Micron Technology, Inc. has a 1 year low of $79.15 and a 1 year high of $157.54. 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 firm has a market cap of $122.74 billion, a P/E ratio of 31.77 and a beta of 1.18. The company has a 50 day moving average price of $97.92 and a two-hundred day moving average price of $101.65.
Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating analysts' consensus estimates of $1.60 by $0.19. The firm had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. Micron Technology's revenue for the quarter was up 84.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.95) earnings per share. On average, sell-side analysts predict that Micron Technology, Inc. will post 6.25 earnings per share for the current fiscal year.
Micron Technology Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology's payout ratio is currently 13.26%.
Analyst Ratings Changes
MU has been the topic of several research analyst reports. Barclays decreased their target price on shares of Micron Technology from $145.00 to $110.00 and set an "overweight" rating on the stock in a research report on Friday, December 20th. KeyCorp 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 Tuesday, October 8th. Susquehanna decreased their target price on shares of Micron Technology from $175.00 to $165.00 and set a "positive" rating on the stock in a research report on Thursday, September 26th. JPMorgan Chase & Co. decreased their target price on shares of Micron Technology from $180.00 to $145.00 and set an "overweight" rating on the stock in a research report on Thursday, December 19th. Finally, Wells Fargo & Company decreased their target price on shares of Micron Technology from $175.00 to $140.00 and set an "overweight" rating on the stock in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $135.24.
View Our Latest Analysis on Micron Technology
About Micron Technology
(
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.
See Also
Before you consider Micron Technology, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Micron Technology wasn't on the list.
While Micron Technology currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Click the link below and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
