Intech Investment Management LLC Buys 120,070 Shares of Micron Technology, Inc. (NASDAQ:MU)

Intech Investment Management LLC raised its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 129.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 213,096 shares of the semiconductor manufacturer's stock after buying an additional 120,070 shares during the period. Intech Investment Management LLC's holdings in Micron Technology were worth $22,100,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Highline Wealth Partners LLC purchased a new stake in shares of Micron Technology in the third quarter worth approximately $26,000. Hobbs Group Advisors LLC bought a new position in shares of Micron Technology in the second quarter worth $28,000. Davis Capital Management purchased a new stake in shares of Micron Technology in the third quarter worth $30,000. Richard W. Paul & Associates LLC raised its position in shares of Micron Technology by 128.6% in the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer's stock worth $34,000 after buying an additional 144 shares in the last quarter. Finally, DT Investment Partners LLC raised its position in Micron Technology by 261.1% during the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer's stock valued at $34,000 after purchasing an additional 235 shares in the last quarter. Institutional investors own 80.84% of the company's stock.

Wall Street Analyst Weigh In

MU has been the topic of several analyst reports. KeyCorp decreased their price objective on Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a report on Tuesday, October 8th. Rosenblatt Securities lifted their target price on shares of Micron Technology from $225.00 to $250.00 and gave the company a "buy" rating in a report on Thursday, September 26th. Bank of America boosted their price objective on shares of Micron Technology from $110.00 to $125.00 and gave the stock a "buy" rating in a report on Thursday, September 26th. Morgan Stanley boosted their target price on shares of Micron Technology from $100.00 to $114.00 and gave the company an "equal weight" rating in a research note on Thursday, September 26th. Finally, Wells Fargo & Company decreased their target price on shares of Micron Technology from $190.00 to $175.00 and set an "overweight" rating for the company in a research note on Wednesday, September 18th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $143.04.

Micron Technology Stock Up 0.7 %

Shares of NASDAQ:MU opened at $98.37 on Thursday. Micron Technology, Inc. has a 1 year low of $72.93 and a 1 year high of $157.54. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. The firm has a market capitalization of $109.07 billion, a PE ratio of 144.66 and a beta of 1.18. The business has a 50 day simple moving average of $101.93 and a two-hundred day simple moving average of $112.42.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping analysts' consensus estimates of $0.97 by $0.21. The firm had revenue of $7.75 billion for the quarter, compared to analysts' expectations of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The business's revenue for the quarter was up 93.3% on a year-over-year basis. During the same period in the prior year, the business posted ($1.21) earnings per share. On average, equities analysts predict that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend was Monday, October 7th. Micron Technology's payout ratio is 67.65%.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the transaction, the executive vice president now directly owns 135,830 shares of the company's stock, valued at $15,348,790. This trade represents a 3.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.32% of the stock is owned by company insiders.

About Micron Technology

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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