Micron Technology, Inc. (NASDAQ:MU) Shares Purchased by Hodges Capital Management Inc.

Hodges Capital Management Inc. boosted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 23.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 187,902 shares of the semiconductor manufacturer's stock after buying an additional 35,480 shares during the period. Hodges Capital Management Inc.'s holdings in Micron Technology were worth $15,814,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Czech National Bank grew its position in Micron Technology by 7.1% during the third quarter. Czech National Bank now owns 225,924 shares of the semiconductor manufacturer's stock valued at $23,431,000 after acquiring an additional 14,902 shares during the last quarter. Mirador Capital Partners LP purchased a new position in Micron Technology in the 3rd quarter worth $482,000. Handelsbanken Fonder AB lifted its stake in Micron Technology by 2.4% in the third quarter. Handelsbanken Fonder AB now owns 434,596 shares of the semiconductor manufacturer's stock worth $45,072,000 after purchasing an additional 9,992 shares during the last quarter. GAMMA Investing LLC boosted its position in Micron Technology by 12.1% during the third quarter. GAMMA Investing LLC now owns 15,599 shares of the semiconductor manufacturer's stock valued at $1,618,000 after buying an additional 1,689 shares during the period. Finally, Diversified Trust Co grew its stake in shares of Micron Technology by 37.0% during the third quarter. Diversified Trust Co now owns 22,202 shares of the semiconductor manufacturer's stock valued at $2,303,000 after buying an additional 5,995 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on MU shares. UBS Group lowered their price target on Micron Technology from $135.00 to $125.00 and set a "buy" rating for the company in a research report on Thursday, December 19th. Barclays dropped their price target on Micron Technology from $145.00 to $110.00 and set an "overweight" rating for the company in a research note on Friday, December 20th. TD Cowen decreased their price objective on shares of Micron Technology from $135.00 to $125.00 and set a "buy" rating for the company in a report on Thursday, December 19th. Rosenblatt Securities reaffirmed a "buy" rating and set a $250.00 target price on shares of Micron Technology in a research note on Wednesday, December 18th. Finally, Needham & Company LLC decreased their price target on shares of Micron Technology from $140.00 to $120.00 and set a "buy" rating for the company in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $134.96.

Micron Technology Price Performance

MU stock traded up $2.94 during midday trading on Wednesday, hitting $93.60. The company's stock had a trading volume of 15,654,257 shares, compared to its average volume of 25,121,594. The firm has a market capitalization of $104.29 billion, a price-to-earnings ratio of 26.97 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. Micron Technology, Inc. has a 12 month low of $79.15 and a 12 month high of $157.54. The company has a 50 day moving average of $96.91 and a two-hundred day moving average of $99.38.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, topping analysts' consensus estimates of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.71 billion. During the same period in the previous year, the business earned ($0.95) earnings per share. The firm's revenue for the quarter was up 84.3% on a year-over-year basis. On average, analysts expect that Micron Technology, Inc. will post 6.29 EPS for the current year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology's dividend payout ratio is currently 13.26%.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the firm's 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 completion of the sale, the executive vice president now directly owns 181,223 shares of the company's stock, valued at approximately $15,442,011.83. This trade represents a 2.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.30% of the stock is currently owned by insiders.

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.