Grantham Mayo Van Otterloo & Co. LLC grew its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 171.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 298,467 shares of the semiconductor manufacturer's stock after purchasing an additional 188,554 shares during the period. Grantham Mayo Van Otterloo & Co. LLC's holdings in Micron Technology were worth $25,119,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in MU. Benjamin Edwards Inc. purchased a new stake in Micron Technology during the third quarter valued at about $600,000. Quarry LP grew its position in Micron Technology by 113.7% during the 3rd quarter. Quarry LP now owns 1,291 shares of the semiconductor manufacturer's stock worth $134,000 after purchasing an additional 687 shares in the last quarter. Weiss Asset Management LP acquired a new stake in Micron Technology during the 3rd quarter valued at $2,932,000. Kovitz Investment Group Partners LLC lifted its holdings in shares of Micron Technology by 61.9% in the third quarter. Kovitz Investment Group Partners LLC now owns 129,715 shares of the semiconductor manufacturer's stock valued at $13,453,000 after purchasing an additional 49,592 shares in the last quarter. Finally, Insigneo Advisory Services LLC boosted its position in shares of Micron Technology by 12.5% in the third quarter. Insigneo Advisory Services LLC now owns 11,774 shares of the semiconductor manufacturer's stock worth $1,221,000 after buying an additional 1,311 shares during the period. 80.84% of the stock is currently owned by institutional investors.
Micron Technology Price Performance
NASDAQ MU traded down $2.85 during trading on Tuesday, reaching $65.52. 26,933,896 shares of the company traded hands, compared to its average volume of 22,912,282. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $157.54. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The stock's 50 day moving average price is $92.96 and its two-hundred day moving average price is $98.09. The company has a market cap of $73.23 billion, a price-to-earnings ratio of 18.92 and a beta of 1.18.
Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.13. The firm had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business's revenue for the quarter was up 38.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.42 earnings per share. As a group, analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current year.
Micron Technology Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.115 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a yield of 0.70%. Micron Technology's dividend payout ratio (DPR) is presently 11.03%.
Analyst Ratings Changes
Several equities analysts have weighed in on the company. Barclays lifted their target price on Micron Technology from $110.00 to $115.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. Sanford C. Bernstein decreased their target price 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. Robert W. Baird upped their price target on shares of Micron Technology from $130.00 to $163.00 and gave the stock an "outperform" rating in a research note on Friday, March 21st. China Renaissance downgraded Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 target price on the stock. in a research note on Wednesday, March 26th. Finally, Rosenblatt Securities cut their price target on Micron Technology from $250.00 to $200.00 and set a "buy" rating for the company in a research note on Friday, March 21st. One 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 given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $129.76.
View Our Latest Stock Report on Micron Technology
Insiders Place Their Bets
In related news, EVP April S. Arnzen sold 15,000 shares of the firm's stock in a transaction dated 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 in the company, valued at $15,847,482.42. This trade represents a 8.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value 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 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
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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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